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Visual collaboration company T1V removes warrants and lowers proposed deal size ahead of $15 million IPO

March 10, 2023

T1V, which provides a hybrid software system for visual collaboration, lowered the proposed deal size for its upcoming IPO on Friday. The company originally filed in January but planned to offer warrants, so it was ineligible for tracking.

The Charlotte, NC-based company now plans to raise $15 million by offering 3 million shares at a price range of $4 to $6. The company had previously filed to offer 3.2 million units at a range of $4.15 to $6.15, with each unit containing one share of common stock and one warrant. At the midpoint of the revised range, T1V will raise 8% less in proceeds than previously anticipated.

T1V provides hybrid collaboration software for enterprise, education, commercial, and healthcare markets. The company's ThinkHub product is a visual collaboration solution for global teams, available as a room-based product or cloud-based product. Its T1V Story product is a software solution that allows brands to reconfigure their assets, like logos and color palettes, into an interactive, touch-based experience. T1V's revenue model includes a non-recurring and recurring revenue stream, and each sale includes a combination of non-recurring and recurring revenue.

T1V was founded in 2007 and booked $15 million in sales for the 12 months ended December 31, 2022. It plans to list on the Nasdaq under the symbol THNK. EF Hutton is the sole bookrunner on the deal.