Consumer electronics company Vizio Inc. has filed with U.S. regulators to raise up to $172.5 million in an initial public offering (IPO) of Class A common stock.
Key Players in Vizio’s IPO
The underwriters for Vizio’s IPO include major financial institutions such as BofA Merrill Lynch, Deutsche Bank Securities, and Citigroup, as stated in the preliminary prospectus submitted to the U.S. Securities and Exchange Commission (SEC). For further details, refer to the prospectus.
About Vizio
Based in Irvine, California, Vizio is renowned in the consumer electronics industry for producing affordable flat-screen televisions and a variety of audio/video equipment. Their product lineup includes high-definition surround sound systems, LCD monitors, and HDTV accessories, making them a popular choice among consumers looking for high-quality electronics at competitive prices.
IPO Details
The filing did not disclose the number of shares Vizio plans to sell or their expected price. The company intends to list its Class A common stock under the symbol “VZIO”.
Financial Implications
The amount of money a company aims to raise in its initial IPO filings is primarily used to calculate registration fees. It’s important to note that the final size of the IPO could differ from the initial amount stated.
By taking this significant step, Vizio is poised to strengthen its position in the consumer electronics market, further expanding its reach and influence in the industry.