Medical device manufacturer Marizyme (OTCQB: MRZM) reduced a proposed initial public offering on Nasdaq to $10 million from $15 million.
In a recent profile, Marizyme said they are currently looking to provide 1.4 million units are priced between $6 and $8. Each unit will include one share plus two warrants per share. Underwriters will receive a 45-day call option to purchase up to 15% of the units sold at the IPO price to cover any overallocation.
Marizyme also hopes to list its shares on Nasdaq under the symbol MRZM. Its shares are currently trading OTC under the same symbol.
The company is developing devices for vascular transplantation, kidney disease screening, and dental care for pets. In 2021, Marizyme reported a net loss of $11 million on revenue of $210k.
In February, Marizyme filed to list its shares and an increase of about 15 million dollars.