Beamr Imaging, an Israeli provider of video encoding and image optimization software, announced terms for its IPO on Tuesday.
The Herzeliya, Israel-based company plans to raise $15 million by offering 1.4 million shares at a price range of $10 to $12. At the midpoint of the proposed range, Beamr Imaging would command a fully diluted market value of $143 million.
Beamr states that it provides video encoding, transcoding, and optimization solutions that enable high quality, performance, and unmatched bitrate efficiency for video and images. The company currently licenses three core video and image compression products: a suite of video compression software encoder solutions; Beamr JPEGmini photo optimization software solutions; and hardware solution Beamr Silicon IP block. Beamr's customers include tier one over-the-top, content distributors, video streaming platforms, and Hollywood studios, with enterprise customers including Netflix, ViacomCBS, Microsoft, and Walmart.
Beamr Imaging was founded in 2009 and booked $3 million in revenue for the 12 months ended December 31, 2021. It plans to list on the Nasdaq under the symbol BMR. ThinkEquity is the sole bookrunner on the deal.
