Beamr Imaging, an Israeli provider of video encoding and image optimization software, raised $8 million by offering 2.0 million shares at $4, below the proposed price of $5. The company offered 0.6 million more shares than anticipated. Beamr revised the terms several times ahead of pricing, most recently earlier this month. It originally planned to offer 1.4 million shares at a range of $10 to $12.
Beamr provides video encoding, transcoding, and optimization solutions for video and images, and currently licenses three core video and image compression products. Beamr's customers include tier one over-the-top, content distributors, video streaming platforms, and Hollywood studios.
Beamr Imaging plans to list on the Nasdaq under the symbol BMR. ThinkEquity acted as sole bookrunner on the deal.
