Lianhe Sowell International Group, which provides machine vision products and solutions in China, raised $8 million by offering 2 million shares at $4, the low end of the range of $4 to $5. The IPO float is just 3.8% of basic shares outstanding.
Lianhe Sowell provides machine vision products and solutions in China, inventing and integrating technologies and solutions that address critical manufacturing and distribution challenges. Based on nine foundational technologies, its solutions integrate physical products with software to capture and analyze visual information. The company's machine vision products fall into four categories, based on application setting: industrial machine vision, artificial intelligence (face recognition and AI behavior analysis), intelligent weak current (building intelligence and intelligent transportation), and electronic customs clearance.
Lianhe Sowell International Group plans to list on the Nasdaq under the symbol LHSW. R.F. Lafferty & Co. acted as sole bookrunner on the deal.
