The Zhitong Finance App learned that agricultural equipment manufacturer Opti-Harvest (OPHV.US) submitted an initial public offering (IPO) application to the US Securities and Exchange Commission (SEC) last Friday local time. The Los Angeles-based company plans to issue 2 million shares at a price of 4 US dollars and plans to raise 8 million US dollars. Based on the planned release price, Opti-Harvest's fully diluted market capitalization would be $110 million. The company was founded in 2016 and plans to be traded on the NASDAQ under the code “OPHV”. WestPark Capital is the sole bookkeeper for the deal.

According to reports, Opti-Harvest's Opti-Filter products aim to accelerate the growth of newly planted crops (Opti-Gro, Opti-Shield, ChromaGro) and increase the yield of mature vineyards and orchards (Opti-Skylights, Opti-Panels) by using sunlight in a novel way. The company commercialized its Opti-GRO and Chromagro products in 2021, commercialized its Opti-Shield and Opti-Panel in 2022, and plans to commercialize its Opti-Skylight series products in 2023. Its Opti-View series products are currently in the development stage, and commercial products are expected to be launched this year as well.