The ebitda+ is more a product of the financial services revenue, which was one of the first applications of Nviso's technology. Clearly though the vehicle segment is where the growth (and excitement) comes from in the future. In-cabin facial recognition and smart vehicle technology is a very large and growing market, with room for multiple participants. Look up startups like Affectiva, who raised $26m last year. Or EyeSight, who raised $15m. Plus, a few larger, more established players.
The 2:1 structure of the pre-IPO round at 16c, means anyone who participated has to buy 2 shares at 20c IPO, for every 1 share bought at 16c. So an 18.7c average. An interesting and smart way to underwrite an IPO and means, there'll only be ~$2m left for punters/instos after underwriting obligations are honoured. Bombora will own ~16% of the float at IPO, which, I believe is the cap for a single holding in that fund. I'm a fan of Bombora, as they not only do very detailed due diligence on fund investments but go above and beyond many funds, by actually working with and assisting small companies to reposition for growth. PKS, a good recent example.
A larger broker like Taylors getting the mandate also gives us confidence of getting to market and on time, which I believe is pegged as March, at this stage.
