RV Rental Platform RVeloCITY Sets Terms for $15M IPO
RVeloCITY (dba RVnGO), an online platform for peer-to-peer RV rentals, announced terms for its IPO, according to a release.
The Phoenix, AZ-based company plans to raise $15 million by offering 3.3 million shares at a price range of $4 to $5. At the midpoint of the proposed range, RVeloCITY would command a fully diluted market value of $89 million.
Concurrently, selling shareholders have registered 2.6 million shares, which may be offered and sold from time to time pursuant to the separate resale prospectus.
Doing business as RVnGO, the company provides an online peer-to-peer marketplace for recreational vehicle (RV) rentals. The company currently generates revenues from its ‘protection plan,’ processing fees paid by guests, and optional 24/7 roadside assistance services.
RVeloCITY (RVnGO) was founded in 2015 and plans to list on the Nasdaq under the symbol RVGO. Boustead Securities and Sutter Securities are the joint bookrunners on the deal.
Source: https://rvbusiness.com/rv-rental-platform-rvelocity-sets-terms-for-15m-ipo/
