Monster Digital to price 2.5 million shares between $4.50 and $6.00

Bookrunners Axiom Capital Management, WestPark Capital will assist

By Devika Patel

Knoxville, Tenn., June 9 – Monster Digital, Inc. will sell 2.5 million common shares and 2.5 million warrants in its initial public offering with a 45-day greenshoe of 375,000 additional shares and 375,000 additional warrants, according to a Form S-1/A filed Thursday with the Securities and Exchange Commission. The company has registered up to $17.25 million of stock for the deal, which was announced on Jan. 11.

The shares will be sold at a price expected to fall between $4.50 and $6.00 per share. The warrants will be sold at $0.01 apiece.

Axiom Capital Management, Inc. and WestPark Capital, Inc. are the bookrunners.

Proceeds will be used for working capital.

The consumer electronics company is based in Simi Valley, Calif. The company intends to list its common stock on the Nasdaq stock exchange under the symbol “MSDI.”

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