Dais Analytic plans $15M IPO

ODESSA — Dais Analytic Corp. filed for an initial public offering this week, hoping to raise $15 million through the sale of its common stock.

Dais will put 3.75 million shares of its stock on the market, at a price between $3 and $5 per share, according to a filing with the Securities and Exchange Commission. The Odessa firm used the midpoint of that range to come up with its $15 million expectation from the sale.

The company's stock is currently available over the counter (symbol: DLYT.OB), and was last sold Sept. 15 for $0.49. Before issuing its IPO, Dais will complete a reverse stock split on a 10-to-1 basis, pushing per-share values up to its preferred price point.

MDB Capital Group LLC is the listing agent for the IPO, the SEC filing shows.

Dais was featured in a December issue of the Gulf Coast Business Review (see “Damage Control,” Dec. 3, 2010). Its goal is to use nanotechnology research to create new solutions for air and water purification, heating and cooling, and power storage that use less energy.