Reticulate Micro, which provides video compression-based software and hardware products, filed on Monday with the SEC to raise up to $12 million in an initial public offering.
The Palm Bay, FL-based company plans to raise $12 million by offering 2 million shares at a price range of $5 to $7. At the midpoint of the proposed range, Reticulate Micro would command a market value of $75 million.
Reticulate Micro is focused on developing, marketing, and delivering video compression-based software and hardware products, built on its proprietary and patented Video Assured Secure Transmission (VAST) video compression coding and decoding algorithms and methodologies. Its primary business focus is the development and delivery of resilient and secure internet communications technologies (ICTs) that enhance customer experiences with high-quality and low-latency video. Its secondary business focus is the virtual training and education platform from its subsidiary, EdWare.
Reticulate Micro was founded in 2020 and plans to list on the NYSE American under the symbol RMIC. The company filed confidentially on July 12, 2023. Boustead Securities is the sole bookrunner on the deal.
