Eco Wave Power Global AB

General Information
Business:

(Note: This is NOT a traditional IPO. This is an uplift of American Depositary Shares to the NASDAQ from the Nasdaq First North Growth Market, where the company’s common shares traded under the symbol “ECOWVE.” The closing price of our shares on Nasdaq First North on June 15, 2021 was SEK 8.8 per share, which equals a price of $1.06 per share based on the SEK/U.S. dollar exchange rate of SEK 8.3083 to $1.00 as of such date. Each ADS equals eight common shares.)

We are a wave energy company primarily engaged in the development of a smart and cost-efficient wave energy conversion, or WEC, technology that converts ocean and sea waves into clean electricity. Our corporate mission is to revolutionize energy production with our proprietary wave technology, and to become a leader in the renewable energy industry, which, according to an analysis by Frost & Sullivan, is expected to see $3.4 trillion in new investment in the next decade. Our WEC technology is implemented onshore or nearshore, as opposed to offshore systems, and draws energy from incoming waves by converting the rising and falling motion of the waves into an efficient and clean energy generation process.

(Note: Eco Wave Power Global AB priced its micro-cap IPO on June 30, 2021, at $8 – well below its $10-to-$12 price range – and sold 1 million American Depositary Shares – or 200,000 more ADS than the 818,181 ADS in the prospectus – to raise $8 million.)

 

Industry: Renewable Energy - Ocean Waves
Employees: 13
Founded: 2019
Contact Information
Address 52 Derech Menachem Begin St. Tel Aviv-Yafo, Israel 6713701
Phone Number +972-3-509-4017
Web Address https://www.ecowavepower.com/
View Prospectus: Eco Wave Power Global AB
Financial Information
Market Cap $41.74mil
Revenues $0 mil (last 12 months)
Net Income $-1.97 mil (last 12 months)
IPO Profile
Symbol WAVE
Exchange NASDAQ
Shares (millions): 1.0
Price range $8.00 - $8.00
Est. $ Volume $8.0 mil
Manager / Joint Managers A.G.P.
CO-Managers -
Expected To Trade: 7/1/2021
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change