Soliton, which is developing a medical device for tattoo removal, raised $10.9 million by offering 2.2 million shares at $5. At offering, Soliton commanded a fully diluted market value of $86 million.
Soliton has been on file for a Regulation A+ IPO since June 2018, when the company filed to raise between $5 million and $15 million by offering shares at $5 apiece in a min-max, best-efforts offering. As such, Renaissance Capital does not include Soliton in our 2019 IPO stats.
Soliton began trading on the Nasdaq on Tuesday under the symbol SOLY, the first Reg A+ IPO on the Nasdaq or NYSE in over a year. Boustead Securities acted as sole underwriter on the deal.
