Minim, which provides Motorola branded routers and modems, completed its uplisting from the OTC Markets to the Nasdaq on Wednesday. Minim kept its OTC ticker of MINM. The company's stock closed at $4.12 on Wednesday (+2%); only about 44,000 shares were traded during its first day. The company's stock price has jumped 32% over the past week on low volume, likely around news of the uplisting.
According to an S-1 filed on Friday, Minim plans to raise up to $29 million in a follow-on offering underwritten by B. Riley Securities, which should improve liquidity.
Because Minim did not complete an initial public offering in connection with its Nasdaq listing, it will be excluded from our 2021 IPO stats.
Formerly known as Zoom Telephonics, the company merged with Minim in November 2020 and took the target's name. Following the merger, the company began selling a software subscription service (1% of 1Q21 sales), which it states provides consumers with an AI-driven smart home WiFi management and security platform.
