Verb Technology, which provides video-based customer relationship management software for businesses, announced terms for its Nasdaq IPO on Thursday. The deal launched with warrants, and we are therefore no longer tracking the IPO or including it in our IPO stats. It had previously been on file for an IPO under the name nFüsz, but updated its name and proposed ticker.
The Los Angeles, CA-based company plans to raise $20 million by offering 2.6 million shares at a price of $7.65, the last close of its shares listed on the OTCQB (Ticker: FUZSD). The warrants will have a per-share exercise price of 125% of the IPO price and two warrants will be needed to purchase one share of common stock. At $7.65, Verb Technology would command a fully diluted market value of $122 million.
Verb Technology Company was founded in 2012 and booked $32 thousand in sales for the 12 months ended December 31, 2018. It plans to list on the Nasdaq under the symbol VERB. A.G.P. is the sole bookrunner on the deal.
