Gauzy, an Israel-based manufacturer of smart glass films, raised $75 million by offering 4.4 million shares at $17, the low end of the range of $17 to $19. The company offered 0.2 million more shares than anticipated. An affiliate had indicated on $15 million worth of shares in the offering (20% of the deal).
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 plans to list on the Nasdaq under the symbol GAUZ. Barclays, TD Cowen, Stifel, and B. Riley Securities acted as joint bookrunners on the deal.
