NIMU Sets $125M IPO Terms at $15.50/Share in Gravitics Reverse Merger
Summary
NIMU's amended S-1 sets the terms for its $125 million IPO at $15.50 per share, to be completed alongside its reverse merger with space infrastructure company Gravitics. The offering will leave existing NIMU holders with only about 3.5% of the combined company.
Key Events · Financing and Capital Events · NIMU
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IPO Terms Finalized
8,064,516 shares offered at an assumed $15.50 per share (range $14.00-$17.00) for $125 million gross proceeds, with a 45-day over-allotment option for 1,209,677 additional shares.
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Massive Dilution for Existing Holders
Post-merger, existing NIMU stockholders will own only about 3.5% of the combined company. After the offering, new investors will own about 20%, and the post-offering share count will be 39,452,564.
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Underwriter and Fees
Lucid Capital Markets is the sole bookrunner, receiving a 6.5% underwriting discount ($8.125 million) plus Underwriter Warrants for 5% of shares sold at a $17.05 exercise price.
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Use of Proceeds
Net proceeds of approximately $121.7 million will fund $50M manufacturing expansion, $20M R&D, $20M M&A, $15M infrastructure, $1.3M debt repayment, and working capital.
Analysis · NIMU · Manufacturing
This amendment finalizes the terms of the $125 million public offering that will fund the reverse merger with Gravitics. The assumed price of $15.50 per share is far above the current OTC price of $0.07, reflecting the post-merger entity's expected Nasdaq listing and the space infrastructure business being acquired. The offering will dramatically dilute existing NIMU shareholders — they will own only about 3.5% of the combined company after the merger, and the new investors will own about 20% after the offering. The filing also reveals a $1 million bridge loan with a 50% original issue discount per 30-day period, an extremely expensive financing that underscores the company's cash constraints before the deal closes.
How filings like this one have moved
In the 30 days to Oct 19, 2026, 37.9% of the 895 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.87%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, NIMU was trading at $0.07 on OTC in the Manufacturing sector, with a market capitalization of approximately $10.8M. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.