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5G network tech developer Wytec International files for a $20 million IPO

December 22, 2021
WYTC

Wytec International, which makes small cell tech and wide area networks for 5G cell phone network coverage, filed on Wednesday with the SEC to raise up to $20 million in an initial public offering.

The company states that it is a designer and developer of small cell technology and wide area networks designed to support 5G cell phone network coverage deployments across the US. Wytec International holds five patents directly related to local multipoint distribution service ("LMDS") utilized in broadband wireless access technology and originally designed for digital television transmission. The company currently has a contract to provide cellular enhancement to 42 buildings within the Laredo Independent School District in Laredo, TX.

The San Antonio, TX-based company was founded in 2011 and booked $1 million in revenue for the 12 months ended September 30, 2021. It plans to list on the Nasdaq under the symbol WYTC. EF Hutton is the sole bookrunner on the deal. No pricing terms were disclosed.