ShotSpotter, which provides law enforcement with a sensor-based service for detecting gunshots, announced terms for its IPO on Friday.
The Newark, CA-based company plans to raise $31 million by offering 2.8 million shares at a price range of $10 to $12. At the midpoint of the proposed range, ShotSpotter would command a fully diluted market value of $118 million.
ShotSpotter was founded in 2004 and booked $17 million in sales for the 12 months ended March 31, 2017. It plans to list on the Nasdaq under the symbol SSTI. Roth Capital is the sole bookrunner on the deal. It is expected to price during the week of June 5, 2017.
