What Happened
Ties $125M IPO To Merger With Loss-Making Gravitics
Non-Invasive Monitoring Systems, Inc. is planning a $125 million initial public offering (IPO) tied to its merger with Gravitics, Inc. The company will offer 8,064,516 shares of common stock at an assumed price of $15.50 per share. Gravitics has a $125 million contract with Axiom Space, which may provide a significant revenue stream for the combined company. However, Gravitics has also reported significant net losses, which may impact the company’s financial stability. The merger is expected to significantly dilute existing NIMU shareholders’ ownership, with Gravitics stockholders owning approximately 96.5% of the combined company. This was reported by Stock Titan.