Ecolomondo to price IPO of 2 million shares between $6.50 and $7.50

By Devika Patel

Knoxville, Tenn., March 26 – Ecolomondo Corp. Inc. will sell 2 million class A common shares in its initial public offering with a 45-day, 15% greenshoe, according to a Form F-1 filed Thursday with the Securities and Exchange Commission. The company has registered up to $16.1 million of stock.

The shares will be sold at a price expected to fall between $6.50 and $7.50 per share.

Chardan Capital Markets, LLC is the bookrunner.

Proceeds will be used for projects and expansion, including working capital.

The St. Laurent, Quebec-based company uses a Canadian-developed green technology process called Thermal Decomposition Process to convert hydrocarbon waste into marketable commodity end-products, namely carbon black substitute, oil, gas and steel. It expects its shares will trade on the Nasdaq under the symbol “EECO.”

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