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Impinj Hopes To Raise $60M From IPO
- Jun 06, 2016 -

Impinj Hopes to Raise $60M From IPO

Seattle-based ultrahigh-frequency (UHF) RFID technology company Impinj registered with the Securities and Exchange Commission its plans to launch an initial public offering (IPO), with the goal of raising $60 million. The company says it has applied to list its common stock on the NASDAQ global market under the symbol "PI," but did not indicate how many shares it expects to issue, or the expected initial per-share offering price.

This is the second time Impinj has filed for an IPO. The firm sought to raise $100 million with an IPO in April 2011 (see Impinj Files for Initial Public Offering), but withdrew its bid 15 months later. Its revenue in 2011 was about half of what it is currently, making this year's offering a more measured approach, according to Bill McBeath, ChainLink Research's chief research officer. "It seems that they have a more tempered, realistic set of expectations this time," he says, adding that the offering is an indication of the upward trajectory of both Impinj and the industry. "I think it's a sign that the industry is healthy."

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