Sidoti & Company, a leading provider of equity research on small- and micro-cap public companies, announced terms for its IPO on Friday.
The New York, NY-based company plans to raise $30 million by offering 3 million shares at a price range of $8.50 to $11.50. At the midpoint of the proposed range, Sidoti & Company would command a market value of $69 million.
The IPO is being marketed by the underwriters on a best efforts basis and will not occur if it fails to raise at least $25.5 million, the deal size at the low end of the range.
Sidoti & Company, which was founded in 1999 and booked $23 million in sales for the 12 months ended March 31, 2015, plans to list on the NASDAQ under the symbol SDTI. WR Hambrecht and Sidoti & Company are the joint bookrunners on the deal. No pricing date was disclosed.
