Israeli smart glass company Gauzy falls in Nasdaq debut
06/06/2024 19:02
** Shares of Israeli smart glass company Gauzy GAUZ.O fall
as much as 7.1%, last down 2.9% at $16.51 in its Nasdaq debut
** Stock opened at $16.70/shr vs $17/shr IPO price
** Tel Aviv, Israel-based GAUZ valued at $309.2 mln at open
** GAUZ raised $75 mln in its upsized IPO by selling 4.4 mln
shares priced at $17/shr, the lower end of its marketed range of
$17-$19/shr
** Company had initially planned on selling ~4.2 mln shares
** Investment firm Orion Infrastructure Capital had
indicated an interest in purchasing up to 833,333 shares or 20%
of the offering
** GAUZ develops smart glass technology that allows glass to
change from transparent to opaque
** Barclays Capital is the lead underwriter of the IPO
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))