Soliton (SOLY) IPO Opens Modestly Lower

February 19, 2019 11:40 AM EST

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Today's IPO for Soliton (NASDAQ: SOLY) opened for trading at $4.80 after pricing 2,086,391 share at $5.00 per share.

The offering was brought by Boustead Securities.

Soliton, Inc. is a pre-revenue stage medical device company with a novel and proprietary platform technology licensed from MD Anderson. The Company's first commercial product uses rapid pulses of designed acoustic shockwaves to dramatically accelerate the removal of unwanted tattoos. The Company is based in Houston, Texas, and is actively engaged in bringing this device to the market. The Company expects to file for premarket clearance with the U.S. Food and Drug Administration ("FDA") for its first device in the first quarter of 2019 and expects to receive clearance to market the device in mid-2019

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