Soliton, Inc.’s $10.4 Million Initial Public Offering

Hunter Taubman Fischer & Li LLC acted as U.S. legal counsel to the underwriter. Schiff Hardin LLP acted as counsel to the Company in connection with the IPO.

Boustead Securities, LLC’s client, Soliton, Inc. (NASDAQ:SOLY), a pre-revenue stage medical device company with a novel and proprietary platform technology licensed from The University of Texas on behalf of the MD Anderson Cancer Center has held the initial closing of its Regulation A+ Tier 2 offering.

Soliton sold 2,086,391 shares of its common stock at the IPO price of $5.00 each in today’s closing resulting in aggregate gross proceeds of $10,431,955 to the Company, before deducting underwriting commissions and other related expenses. Soliton has been approved to begin trading its shares on the Nasdaq Capital Market under the symbol “SOLY” on Tuesday February 19, 2019. Boustead Securities, LLC was the sole underwriter of the Soliton IPO.

The Company intends to use the net proceeds of this offering primarily to develop and commercialize the Rapid Acoustic Pulse (“RAP”) device; conduct clinical trials for new indications; pay license fees and fund research and development; and for general working capital.

Hunter Taubman Fischer & Li LLC acted as U.S. legal counsel to Boustead Securities, LLC acting as underwriter on the offering with a team led by Louis Taubman (Picture).

Involved fees earner: Louis Taubman – Hunter Taubman Fischer & Li LLC;

Law Firms: Hunter Taubman Fischer & Li LLC;

Clients: Boustead Securities LLC;

Author: Ambrogio Visconti