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Micro-cap CRM software provider Verb Technology sets terms for $20 million IPO


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Verb Technology, which provides video-based customer relationship management software for businesses, announced terms for its Nasdaq IPO on Thursday. The deal launched with warrants, and we are therefore no longer tracking the IPO or including it in our IPO stats.  It had previously been on file for an IPO under the name nF├╝sz, but updated its name and proposed ticker. 

The Los Angeles, CA-based company plans to raise $20 million by offering 2.6 million shares at a price of $7.65, the last close of its shares listed on the OTCQB (Ticker: FUZSD). The warrants will have a per-share exercise price of 125% of the IPO price and two warrants will be needed to purchase one share of common stock. At $7.65, Verb Technology would command a fully diluted market value of $122 million. 

Verb Technology Company was founded in 2012 and booked $32 thousand in sales for the 12 months ended December 31, 2018. It plans to list on the Nasdaq under the symbol VERB. A.G.P. is the sole bookrunner on the deal. 

The article Micro-cap CRM software provider Verb Technology sets terms for $20 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.





This article appears in: News Headlines , IPOs



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