The first Israeli public subscription is expected to take place on the Nasdaq Stock Exchange in 2025 soon, when it is the technology company OdySight.ai (OTC: Odys) will seek to raise $ 21.5 million in the evaluation of the company of $ 129 million.
Although this is the most modest of subscription subscriptions, the company has major customers and a list of well -known capital market investors. Odysight.ai is currently trading in the Wall Street market without a prescription with the maximum market of $ 111 million. The price of its share has a positive momentum, although trading sizes are small and the company still spreads a loss of relatively low revenues.
Odysight.ai (previously known as Scoutcam) was established in 2013, and since 2022 he managed the CEO Yehu Offer, the former commander of the SDE DOV air base, who held a great executive position in that Elbit Systems Ltd. (Nasdak: Eslt;; level:Eslt). The company develops, manufactures and markets a unique sensor solution that allows continuous monitoring of components, infrastructure and machines, using artificial intelligence -based analysis and machine learning. The OdySight solution is used by NASA, and other prominent customers include the Israeli Air Force and the Ministry of Defense, as well as the French company Safran.
The company also recently announced cooperation with the Israeli railway, as it will develop an artificial intelligence monitoring system to increase safety on the travel of the train. According to the bulletin provided by OdySight, its solution was initially dedicated to the medical devices market, but later it was shown to be suitable for industries such as aviation and space, where visual assessments are very important to the safety and performance of the systems.
In an interview with Globes a few months ago, the company’s president and founder of the company told Professor Benad Goldwasser (who was previously one of the founders of Medical Device Giant Medinol), how NASA came to Odyssey when she was looking for a permanent camera: “NASA decided to fuel shuttle to refueling in The outer space; all this satellite costs 200 million dollars, and when it is no longer transferred, it becomes scrap. To minus 147 degrees.
NASA wanted a solid camera that could suit the refueling tube, not exceeding 4 mm in diameter. “NASA has searched the Internet – until she arrived at an Israeli company from Omer that in 2012 she announced that she was able to develop the smallest video camera in the world, with a diameter of 1.2 mm,” says Goldwasser. The company was Medigus, which developed medical cameras in general, and Goldwasser, a physician and businessman in the medical industry identified the obtained Medigus activity, which was established Odysight on the basis.
Related articles
NASA to integrate Odysight.ai cameras into air spacecraft
Medigus no longer has shares in OdySight. The company’s dominant shareholder is businessman Mori Arkin who has a 51.1 % stake, at a value of $ 69.7 million, and his contract is expected to shrink to 44.6 % after float.
Goldwasser has a 5.5 % stake in 2.5 %. Founding Investors Phoenix Financial (26.5 %), Meitav (10.9 %) and MOR (7.4 %) also have large classes.
According to IVC Research, Odysight has raised $ 60.3 million in several rounds. The latest fundraising was implemented last July at an arrow price of $ 4.8, as the company raised $ 10.3 million in a special offer for current investors, including Arkin. The company includes 61 employees – all in Israel in its offices in Ramat Gan and order.
The company’s financial results indicate rapid growth, but the numbers are still modest. In the first three quarters of 2024, Odysight recorded revenues of $ 2.66 million, an increase of 145 % over the corresponding period of 2023, while the net loss reached $ 8.2 million. In total, OdySight “burned $ 42 million”. At the end of the third quarter, Odiait’s cash balance was $ 20.9 million. Another number provided by the company in the issuance bulletin is the accumulation of requests, which was at the end of 2024 $ 15 million, compared to $ 2.6 million at the end of 2023.
The public subscription is expected later this week. The version of the version was mentioned $ 8.50 per share, although the Odysight share is currently trading on OTC at $ 8.80. At $ 8.5, the amount that was raised will be $ 21.5 million, with the company’s evaluation of $ 129 million. The amount may increase by an additional $ 3.2 million at a later time, if the books in the offer choose to practice the option to buy additional shares. The Lead Leadwriter is the standard company and law firms that support flotation are Greenberg Traurig, Herzog Fox Neeman and Sheppard Mullin Richter & Hampton.
Posted by Globes, Israel Business News – En.globes.co.il – on February 5, 2025.
© Globes Publisher Itonut (1983) Ltd. , 2025.
The post Israeli co Odysight.ai set for Nasdaq IPO first appeared on Investorempires.com.