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Visual collaboration company T1V ups share offering, changes lead bank ahead of $17 million IPO

May 24, 2023

T1V, which provides a hybrid software system for visual collaboration, raised the proposed deal size for its upcoming IPO on Wednesday. In its latest filing, the company also disclosed financials for the three months ended March 31, 2023, and replaced sole bookrunner EF Hutton with R.F. Lafferty & Co.

The Charlotte, NC-based company now plans to raise $17 million by offering 3.3 million shares at a price range of $4 to $6. The company had previously filed to offer 3 million shares at the same range. At the midpoint, T1V will raise 9% more 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 $16 million in revenue for the 12 months ended March 31, 2023. It plans to list on the Nasdaq under the symbol THNK. R.F. Lafferty & Co. is the sole bookrunner on the deal.