Boston Omaha Corporation, an owner of billboards and real estate, provides surety insurance, announced terms for its IPO on Monday.
The Boston, MA-based company plans to raise $72 million by offering 5.5 million shares at a price range of $12 to $14. Insiders intend to purchase $47 million worth of shares in the offering. At the midpoint of the proposed range, Boston Omaha Corporation would command a fully diluted market value of $161 million.
Boston Omaha Corporation was founded in 2009 and booked $5 million in sales for the 12 months ended March 31, 2017. It plans to list on the Nasdaq under the symbol BOMN. Cowen & Company is the sole bookrunner on the deal. It is expected to price during the week of June 12, 2017.
