Vizio, an American privately held consumer electronics company based in Irvine, California, filed a prospectus with U.S. regulators to raise up to $172.5 Million in an initial public offering of Class A common stock.
BofA Merrill Lynch, Deutsche Bank Securities and Citigroup are among the underwriters of the IPO, Vizio disclosed these facts to the Securities and Exchange Commission in an elementary prospectus.
Apart from that, the company didn’t reveal in the documents how many shares would be made available or which market it would list on. But the company intends to list its Class A common stock under the symbol “VZIO.”
Founded in 2002, Vizio is well-known for selling inexpensive consumer electronics, including smart televisions and home audio products. In addition to this, Vizio has mentioned in its prospectus that it has sold over 65 Million consumer electronics products and has streamed almost three billion hours of entertainment content through its devices.