Adtech platform developer NYIAX narrows price range for proposed $8M IPO

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Initial public offering hologram, night panoramic city view of Bangkok. The financial center for multinational corporations in Asia. The concept of boosting the growth by IPO process. Double exposure. — 2d illustrations and photos/iStock via Getty Images

NYIAX (NYX), which has developed an adtech platform with Nasdaq technology, has narrowed its price range for a proposed $8M initial public offering.

NYIAX said it is now looking to raise $8M by offering 1.64M shares priced between $4.50 and $5.50. Underwriters would be granted a 30-day option to buy up to $1.23M additional shares.

NYIAX hopes to list its shares on Nasdaq under the symbol NYX. Boustead and WestPark are serving as lead bookrunners.

Based in New York City, NYIAX has developed a blockchain-based marketplace with Nasdaq where advertising inventories, campaigns and audiences can be listed, bought and sold. The platform’s technology is jointly patented by NYIAX and Nasdaq (NDAQ).

NYIAX first filed for an IPO in June 2022, seeking $20M.

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