RV rental platform Rvelocity (RVGO) has been filed to raise around $10 million through an initial public offering.
Rspeed not indicated in your presentation the number or price of the shares to be offered, but indicated in a presentation fee schedule that it was looking to offer up to $10 million of its shares, with existing shareholders offering up to $5 million in additional shares.
The company expects to list its shares on Nasdaq under the symbol RVGO. Boustead Securities serves as the primary book broker.
Based in Arizona, Rvelocity bills itself as the Airbnb of RV rentals. Renters, or “guests,” may rent RVs from participating RV owners, or “hosts,” through the Rvelocity platform www.rvngo.com. The company charges guests a 3% processing fee on transactions. “Hosts” are not charged any fees.
The company has been operating in the red. For the nine-month period ending August 31, Rvelocity reported a net loss of $6.4M on revenue of $314K.
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