Impinj, which is leading provider of radio-frequency identification tags and reader chips, announced terms for its IPO on Monday.
The Seattle, WA-based company plans to raise $60 million by offering 4.6 million shares at a price range of $12 to $14. At the midpoint of the proposed range, Impinj would command a fully diluted market value of $247 million.
Impinj was founded in 2000 and booked $84 million in sales for the 12 months ended March 31, 2016. It plans to list on the Nasdaq under the symbol PI. RBC Capital Markets, Pacific Crest and Piper Jaffray are the joint bookrunners on the deal. It is expected to price during the week of July 18, 2016.
