Gauzy, an Israel-based manufacturer of smart glass films, announced terms for its IPO on Wednesday.
The Tel Aviv, Israel-based company plans to raise $75 million by offering 4.2 million shares at a price range of $17 to $19. An affiliate intends to purchase $15 million worth of shares in the offering (20% of the deal). At the midpoint of the proposed range, Gauzy would command a fully diluted market value of $357 million.
Gauzy provides a variety of PDLC and SPD films which are laminated or retrofitted onto glass. The films can dim light, or show transparent displays. Major end markets for Gauzy include the automotive, aerospace, and construction sectors. The company sells its products in over 30 countries through direct fulfillment and certified distribution channels.
Gauzy was founded in 2009 and booked $85 million in revenue for the 12 months ended March 31, 2024. It plans to list on the Nasdaq under the symbol GAUZ. Barclays, TD Cowen, Stifel, and B. Riley Securities are the joint bookrunners on the deal. It is expected to price during the week of June 3, 2024.
