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Electric bicycle manufacturer SONDORS (SODR.US) lowered its IPO price to 6-8 US dollars and plans to raise 18 million US dollars
The Zhitong Finance App learned that electric vehicle manufacturer SONDORS (SODR.US) lowered its IPO price on Tuesday local time. The company now plans to issue 2.5 million shares at a price of $6 to $8 to raise $18 million. The company had previously applied to issue the same number of shares at a price of $8 to $10. Based on the median value of the revised issue price range, its plan will raise 22% less capital than previously anticipated. SONDORS was founded in 2013 and had sales of $22 million for the 12 months ending September 30, 2022. It is planned to be replaced by shares