The company priced its initial public offering at $6 a share and sold 4 million shares. Energous also included a 45-day option for underwriters to buy up to an additional 600,000 shares. If this happens, then gross proceeds from the IPO would total $27.6 million.
Energous is developing WattUp, a wire-free charging technology that would allow users to freely walk around with and use their mobile devices rather than have to leave them on a pad or other station to charge. The devices would charge through Wi-Fi, which could potentially revolutionize the business.
Must Read: Warren Buffett's 10 Favorite StocksSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more. STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
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