Israeli sensible glass producer Gauzy has filed a prospectus for an IPO on Nasdaq. The Tel Aviv-based firm is but to report the quantity it plans to lift and at what firm valuation. Barclays, TD Cowen and Stifel will function underwriters.
In the prospectus, Gauzy disclosed that it has income of $78 million in 2023, up 59% from the earlier 12 months. Net loss grew from $37.9 million in 2022 to $79.3 million in 2023. At the tip of 2023, the corporate had solely $4.6 million in money.
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The firm, which was based in 2009, has developed a expertise that permits higher management of the passage of sunshine by way of the glass for the automotive and aviation industries, whereas the corporate believes that its merchandise might even have purposes in different fields. Gauzy’s expertise replaces conventional mechanical merchandise with superior options that embody nanotechnology, digital, and different capabilities.
Gauzy’s traders embody Ibex Partners (32.1%), Olive Tree (13%), Gauzy cofounder and CEO Eyal Peso (7.9%) and cofounder CTO Adrian Loffer (3.3%).
Published by Globes, Israel enterprise information – en.globes.co.il – on April 21, 2024.
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