General Enterprise Ventures, which makes a flame retardant for wildfire defense and treating lumber, announced terms for its IPO on Thursday. The company is currently quoted on the OTC under the symbol "GEVI."
The Cheyenne, WY-based company plans to raise $15 million by offering 1.3 million shares at a price range of $11 to $13. At the midpoint of the proposed range, General Enterprise Ventures would command a fully diluted market value of $258 million.
The company's current product is called CitroTech, which is utilized in wildfire defense and to treat lumber to inhibit fire. The product is sustainable, because it is made of food-grade ingredients derived from corn, fruits, and other renewable sources. General Enterprise's current customer base is mainly comprised of homeowners, developers, and fire departments in 11 Western States.
General Enterprise Ventures was founded in 1990 and booked $1 million in sales for the 12 months ended March 31, 2025. It plans to list on the NYSE American under the symbol MFB. Univest Securities is the sole bookrunner on the deal.
