PogoTec Plans to Launch an IPO

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NEWPORT BEACH, Calif.—Wearable device maker PogoTec, Inc., filed documents on November 16 with the Securities and Exchange Commission to launch an initial public offering. The move came on the same day the company announced the purchase availability of PogoCam, a small, lightweight attachable eyewear camera.

According to an offering statement filed with the SEC, PogoTec plans to launch a Regulation A+ IPO, through which it hopes to raise between $10 million and $32 million through sales of its common stock on the NASDAQ Capital Market, pending approval by NASDAQ. PogoTec said it had 15,0007,538 shares of common stock as of Nov. 3, 2017. The per share price has not yet been set.

WR Hambrecht + Co. is the exclusive underwriter for PogoTec’s planned IPO.

PogoTec’s additional proprietary products include PogoLoop, a universal connector that allows PogoCam to attach magnetically to virtually all eyewear as well as PogoTrack, a metal track embedded in the temple design of modern eyewear that allows PogoCam and other wearable devices to attach and detach magnetically to PogoTrack frames. PogoTec has licensed PogoTrack to three global frame manufacturers, including ClearVision Optical, FGX International and Argus Vision. The company’s commercial strategy focuses on its e-commerce site, optical retail including eyecare professionals, and traditional retail to drive sales, plus specialty and TV retail.

PogoTec was founded in 2014 by Ronald Blum, whose previous optical ventures include Innotech and PixelOptics. Brendan Sheil, a longtime optical industry executive, serves as PogoTec’s president and CEO.