urban-gro, which provides equipment and services for the commercial indoor horticulture market, announced terms for its IPO on Thursday. The company originally filed in November 2020.
The Lafayette, CO-based company plans to raise $20 million by offering 3 million shares at $6.60, the December 21, 2020 close of its shares on the OTCQX (UGROD). At the proposed price, urban-gro would command a fully diluted market value of $51 million.
urban-gro engineers and designs indoor controlled environment agriculture facilities and then integrates complex environmental equipment systems into those facilities, providing clients with high-performance indoor cultivation facilities to grow specialty crops, including leafy greens, vegetables, herbs, and plant-based medicines like cannabis and hemp.
urban-gro was founded in 2014 and booked $24 million in sales for the 12 months ended September 30, 2020. It plans to list on the Nasdaq under the symbol UGRO. ThinkEquity is the sole bookrunner on the deal.
