Mobilicom Limited (MOB) expects to raise $10 million in an initial public offering (IPO) on Thursday, June 23, IPO Scoop reports. The Company will issue 2,200,000 shares at a price of $4.65 per share.
In the last 12 months, Mobilicom Limited generated revenue of $2.6 million and had a net loss of $1.8 million. The company has a market cap of $20 million.
ThinkEquity acted as underwriter for the IPO.
Mobilicom Limited provided the following description of their company for their IPO: “(Note: This is an initial public offering of American Depositary Shares (ADS) on the NASDAQ. The ordinary shares are traded on the Australian Securities Exchange.) We are a provider of hardware products and software – and cybersecurity solutions that we design, develop and manufacture and that are embedded in small drones or small unmanned aerial vehicles that we call SUAVs and robotic systems or robotics. We have both patented technology and unique know-how. We aim to continue growing our global customer base by increasing our number of design wins and targeted pilots, and ultimately selling our other solutions to the same customers to become a leading end-to-end provider of SUAV and robotic systems manufacturers or OEMs, who in turn sell their systems to the security and surveillance, process industries (converting bulk goods into other products), infrastructure inspection, first responders, homeland security and courier services market segments. By “design win” we mean the large-scale and exclusive adoption of our component products by our OEM customers on an ongoing basis. The “pilot projects” relate to initial distribution and small-scale implementation. As an “end-to-end” provider, he is one who provides all the key components that his customers need for their products. Our goal is to penetrate the commercial segment of our markets by leveraging the experience we have gained in the defense segment of our markets. We believe that our key competitive advantage lies in our ability to offer our customers an end-to-end solution, allowing us to have an insider’s view of our customers’ needs. This is evidenced by our recent design wins and pilot projects, such as the integration of our technology into the unmanned systems of a leading designer and manufacturer of thermal imaging cameras and sensors, and our partnership with a US-based designer and manufacturer of RF/microwave amplifiers and integrated radio systems, to integrate our multifunction radios into its powerful radio solutions. We also believe that our products have performed well under harsh environmental conditions. Our solutions are used by our various customers worldwide including United States, Europe, Israel, Japan and other Asian countries. Historically, we have generated most of our revenue from selling our hardware products and have recently started selling our cloud-based software and cybersecurity solutions. “.
Mobilicom Limited was founded in 2006 and employs 28 people. The company has its registered office at 1 Rakefet Street, Shoham, Israel 6083705 and can be reached by phone on +61 3 8630 3321 or online at https://mobilicom-ltd.com.au/.
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