Tekcapital portfolio company Guident has filed an updated S-1 form with the SEC, signalling preparations for its NASDAQ IPO are gathering pace.
The autonomous vehicle technology company filed its original S-1 confidentially towards the end of the summer, but was likely held up by the longest US government shutdown in history.
The SEC is reportedly facing a substantial backlog of filings, meaning a swathe of companies, including Guident, are waiting to progress with their listing plans.
Material details of the S-1 filed yesterday in the US were largely unchanged, with the indicative price range remaining at between $7.80 and $9.80.
While the delay will be frustrating for Tekcapital and Guident stakeholders, it may have been a blessing in disguise, as it means the firm has sidestepped market volatility during November.
Tekcapital holds around a 70% stake in Guident, which could be worth more than Tekcapital’s entire market cap when Guident lists.
The backlog at the SEC has created an opportunity for Guident to provide further details of commercial progress ahead of the IPO, such as the recent launch of a fresh MiCa autonomous shuttle deployment in Boca Raton.
“This launch marks a defining moment for Boca Raton and for the future of driverless mobility,” Harald Braun, Chairman and CEO of Guident at the time of the launch.
“The MiCa is managed by Guident’s RMCC platform, which bridges technology and human judgment, ensuring that every autonomous journey is monitored, secure, and safe.”