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Monster Digital sets terms for $15 million IPO

January 11, 2016
MSDI

Monster Digital, which sells action cameras, memory products and other branded consumer electronics, announced terms for its IPO on Monday. 

The Simi Valley, CA-based company plans to raise $15 million by offering 1 million units at a price of $15; each unit represents two shares of common stock and three warrants exercisable at 125% of the offering price. At the proposed price, Monster Digital would command a fully diluted market value of $58 million. Monster Digital originally filed in November 2015 to raise $30 million.

Monster Digital, which was founded in 2007 and booked $9 million in sales for the 12 months ended September 30, 2015, plans to list on the Nasdaq under the symbol MSDI. Joseph Gunnar & Co. and Axiom Capital Management are the joint bookrunners on the deal. It is expected to price during January 2016.