Mohawk Group Holdings, which sells consumer products based on market data gathered using its AI platform, announced terms for its IPO on Friday.
The New York, NY-based company plans to raise $50 million by offering 3.3 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Mohawk Group Holdings would command a fully diluted market value of $271 million.
Mohawk Group Holdings was founded in 2014 and booked $77 million in sales for the 12 months ended March 31, 2019. It plans to list on the Nasdaq under the symbol MWK. Roth Capital and A.G.P. are the joint bookrunners on the deal. It is expected to price during the week of June 10, 2019.
