RV rental platform RVeloCITY discloses terms for proposed $15M IPO
March 27, 2023
RV rental platform RVeloCITY (RVGO) has disclosed more terms for a proposed $15M initial public offering.
RVeloCITY said in an SEC filing that it was looking to offer 3.3M shares priced between $4 and $5, which would raise around $15M if priced at the midpoint.
The company has filed to list its shares on Nasdaq under RVGO. Boustead Securities and Sutter Securities are serving as lead bookrunners, according to the filing.
Based in Arizona, RVeloCITY bills itself as the Airbnb of RV rentals. Renters, or “guests,” are able to rent RVs from participating RV owners, or “hosts,” through RVeloCITY’s platform www.rvngo.com. The company charges guests a 3% processing fee on transactions. “Hosts” are not charged any fees.
RVeloCITY first filed for the IPO in January, indicating it was interested in offering up to $10M of its stock, with existing shareholders offering up to $5M additional shares.