NEW YORK, NEW YORK, USA, February 7, 2022 /EINPresswire.com/ — ISI, an early-stage technology company, today announced that Amendment 4 to its S-1 IPO Registration Statement became effective on 12/22/2021 for a initial public offering of 2 million shares of its Class A common stock offered by the company and 517,000 shares held by the original investors pursuant to its S1 resale registration statement filed on Form S-1 Amendment 10 filed with the Securities and Exchange Commission (the SEC).
ISI intends to use 90% of the net proceeds to purchase the controlling shares of an innovative technology company traded on Borsa Istanbul, currently under LOI review and the remaining net proceeds to pay for the offering and merger and acquisition legal fees. Following the IPO, ISI intends to complete an additional $50 million offering to complete a free float tender offer for the acquisition target, and the remaining net proceeds to pay the offering costs, reorganization costs and general corporate expenses which include facilitating the growth and expansion plans of ISI’s existing technology projects as new product offerings and/or expansion into new new lines of business, including public sector markets or geographic markets in the United States, throughout Europe and the Middle East.
“Our team of advisors and technologists explore cutting-edge research areas and create disruptive technology that will be revolutionary in biometrics, cybersecurity and the Internet of Things. We want to push the boundaries of technological achievement and push the boundaries to reach new frontiers in engineering and science,” said ISI Chief Technology Officer Dr. Mathew Liotine.
Initial public offering shares and resale shares are registered with the SEC at $5 per share, but the initial public offering price is not yet determined as the issuer seeks to engage with a investment bank to secure its IPO. Class A shares are expected to trade on the NASDAQ Capital Market under the symbol “ISI”.
“We are currently looking for an investment bank to underwrite our IPO and subsequent offering. We welcome technology-focused investment banks as underwriters best positioned to appreciate the value of strategically aligning our technology and IP strategies with the public technology company being acquired and supporting. best achieve ISI’s long-term goals,” said Lynda. Chervil, general manager of ISI.
Registration statements relating to the sale of these securities have been filed with and declared effective by the Securities Exchange Commission on 12/22/21. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, and there will be no sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or territory.
Internet Sciences Inc., is a diversified early-stage information communication technology company specializing in information technology, telecommunications technology infrastructure, data warehousing, biometrics, Internet of Things , cybersecurity, cloud computing, technical and engineering services and space science technology.
We want to be recognized globally as a company known for its technical expertise, deep industry knowledge and spirit of innovation.
Alliance Capital Equity Group