Mota Group (stock) (MOTA) Announces June 22nd IPO

Mota Group (stock) (MOTA) plans to raise $7 million in an initial public offering (IPO) on Thursday, June 22nd, IPO Scoop reports. The company will issue 700,000 shares at $9.99 per share.

In the last year, Mota Group (stock) generated $5.3 million in revenue and had a net loss of $3.3 million. Mota Group (stock) has a market cap of $21.6 million.

Joseph Gunnar and Axiom Capital Management served as the underwriters for the IPO.

Mota Group (stock) provided the following description of their company for its IPO: ” We design, manufacture and market consumer products — including recreational and commercial drones, smart wearables and innovative mobile accessories for smartphone and camera users. We try to identify opportunities where users can benefit from new technology, identify the gaps and areas that can be simplified and enhanced, and develop these opportunities into products. Since 2012, we have sold and shipped over 1.7 million units of our products to consumers worldwide. “.

Mota Group (stock) was founded in 2003 and has 20 employees. The company is located at 81 Daggett Drive, San Jose, CA 95134, US and can be reached via phone at (408) 370-1248 or on the web at http://www.mota.com..

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