2d illustrations and photos/iStock via Getty Images Energy storage systems provider NeoVolta (OTCQB:NEOV) has downsized its proposed initial public offering to $6M from $9M. NeoVolta said in a filing that now is looking to offer 1.5M units priced between $3.50 and $4.50 per unit, which would raise around $6M if priced at the midpoint. Each unit would consist of one share plus two warrants to buy one share apiece. Underwriters would be granted at 45-day option to buy up to 225K additional shares and or warrants. Maxim Group is serving as sole bookrunner. In a filing made on June 3, NeoVolta said it was seeking to offer 1.5M units priced between $5 and $7 per unit, which would have raised approximately $9M if priced at the midpoint. Each unit was to consist of one share plus one warrant to buy one share. NeoVolta also plans to uplist its shares from the OTC market to Nasdaq, with…
Energy storage systems maker NeoVolta downsizes proposed IPO to $6M (OTCMKTS:NEOV)
