Water treatment company Shimmick to offer 4.55 million shares in IPO priced at $10 to $12 each

Shimmick Corp.
SHIM,
,
a water treatment company, set terms for its initial public offering on Tuesday with plans to offer 4.55 million shares, priced at $10 to $12 each. The company would raise $54.6 million at the top of that range at a valuation of $318 million. The company has applied to list on Nasdaq under the ticker “SHIM.” Roth Capital Partners and Craig-Hallum Capital Group are underwriting the deal. “We are a leading provider of water and other critical infrastructure solutions nationwide,” the company says in its filing documents. The company had a net loss of $19.6 million in the first half, after income of $3.7 million in the year-earlier period. Revenue rose to $319.3 million from $293.6 million. The Renaissance IPO ETF
IPO,
+0.43%
has gained 23% in the year to date, while the S&P 500 has gained 9.8%.