The Zhitong Finance App learned that Gravitics Holdings, which focuses on the development of large-scale spatial structures and orbital systems, lowered the proposed transaction size for its upcoming initial public offering (IPO) on Tuesday. The company currently plans to issue 3.2 million shares at $14-17 and raise $50 million. Earlier, documents submitted by the company showed that it plans to issue 8.1 million shares in the same issue price range. The size of the latest proposed funding is down 60% from the previous one.
Gravitics plans to be listed on the NASDAQ under the stock code “GVTX.” As part of this NASDAQ IPO, Gravitics will merge with OTC listed shell company Non-NIMU.US (NIMU.US). The latter ceased operations in 2019 and has been seeking reverse merger and acquisition partners ever since. Once the merger is complete, the surviving entity will be renamed “Gravitics Holdings”.
According to data, Gravitics was founded in 2021 and is engaged in the design, development and commercialization of large-scale space structures, including orbital carriers, cargo logistics spacecraft, space station segments, and related engineering and technical services. Gravitics' main customer base includes government entities and the commercial space industry. The company highlighted its $125 million fixed-price contract with associated party Axiom Space to develop and deliver a cargo aircraft that can dock with Axiom's commercial space station. According to the data, the company achieved revenue of 400,000 US dollars in the 12 months ending March 31, 2026.