Ecolomondo, which has developed equipment that can recycle hydrocarbon waste into carbon black and oil, announced terms for its IPO on Thursday.
The Quebec, Canada-based company plans to raise $14 million by offering 2.0 million shares at a price range of $6.50 to $7.50. At the midpoint of the proposed range, Ecolomondo would command a market value of $155 million.
Ecolomondo, which was founded in 2007, plans to list on the NASDAQ under the symbol EECO. Chardan Capital Markets is the sole bookrunner on the deal. No pricing date has been announced.
