NV5 Holdings, a provider of professional and technical engineering and consulting solutions, raised $9.7 million through the Initial Public Offering of 1.61 million units priced at $6 per unit, conducted under the Jumpstart Our Business Startups Act of 2012 (the JOBS Act).
Each unit is comprised of one share of NV5 Holdings'' common stock and one five-year warrant to purchase one share of the company's common stock at a price of $7.80 per share. The units will trade solely as units until September 27, 2013, at which time the units, shares, and warrants may trade separately under the symbols "NVEEU," "NVEE," and "NVEEW," respectively.
"This successful completion of our initial public offering and our new status as a public company creates a stronger platform upon which to further build NV5 as the preferred, single-source provider of engineering and technical services in our market verticals," Dickerson Wright, chairman and CEO of the NV5 Holding stated in a recent press release. "It better aligns our employees, shareholders and strategic partners in this common vision, and helps to facilitate the further expansion of our market share both organically and through acquisition."
The JOBS Act, which was signed into law by President Obama in April 2012, is in support of small businesses and startup funding.
As an emerging growth company, NV5 Holdings recently said it may take advantage of key provisions in the act such as specified reduced reporting and other requirements that are generally reserved only for public companies. The company can exercise these provisions for up to five years or at the time it is no longer considered an "emerging growth company."
For more information, visit www.NV5.com
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