The technology company Cybervan The submission is an open prospectus to the SEC, the U.S. Securities and Exchange Commission, prior to the IPONASDAQ. The company, managed by Uri Gilboa, has developed and markets technology designed to prevent distractions from the cell phone while driving.
The company was first issued on the Tel Aviv Stock Exchange in mid-2020 at a value of NIS 87 million “before the money” and then raised NIS 26 million. Since the IPO, the share has fallen by about 40%, and as of today it reflects a company value of only NIS 70 million. Cybervan has not yet reported what value it is aiming for in the IPOWall StreetBut it can be estimated that it strives to achieve a higher value, and to flood value for investors in making the move.
Following the IPO, a cybervan will be traded on the Nasdaq (Capital Market) sub-list when trading will be in the company’s ADS, securities tracking certificates traded abroad (in this case in Israel).
The prospectus provides cybervan details of the market it is targeting, and says the total cost of accidents in the U.S. reaches $ 850 billion annually, and 660,000 U.S. drivers try to use their cell phones while driving at any given moment.
Cybervan is still at the beginning of the road when it comes to commercial activity and revenue, after a period of pilots with various entities. In 2021, the company recognized revenues of NIS 450,000, an increase from NIS 316,000 in 2020. At the same time, it recorded a net loss of NIS 26.5 million, compared with a loss of NIS 13.6 million in 2020.
The most prominent shareholders in Cybervan are Ronen Weisserberg, Ituran, Universal Motors, Yaakov Tenenbaum and Moore Investment House.