NeoVolta, which makes energy storage systems for residential and commercial solar equipment, lowered the proposed deal size for its upcoming IPO on Friday. The company is currently listed on the OTCQB (NEOV).The Poway, CA-based company now plans to raise $6 million by offering 1 million units at a price range of $5 to $7. Each unit consists of one share of common stock and one warrant, exercisable at the IPO price. The company had previously filed to offer 1.7 million units at the same range. At the midpoint of the range, NeoVolta will raise 40% less in proceeds than previously anticipated and command a market value of $196 million.Because the company is offering units with warrants attached, NeoVolta will be excluded from Renaissance Capital’s 2022 IPO…
Energy storage system maker NeoVolta lowers unit offering by 40% ahead of $6 million Nasdaq uplisting
