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Smart Speaker Maker Sonos Prices IPO at $17 to $19 per Share

Santa Barbara, Calif.-based smart speaker maker Sonos is looking to add much as $105 million to its coffers when it goes public in the coming weeks, the company announced in a SEC filing Monday. Sonos said that it will price its shares between $17 and $19.

Sonos itself plans to sell 5.55 million shares, while stockholders will sell an additional 8.3 million shares. Altogether, Sonos and its shareholders could raise as much as $303 million.

The company first filed to go public two weeks ago, announcing that it plans to list shares on Nasdaq under the symbol SONO.

Back then, it revealed that it has sold more than 19 million speakers thus far. Sonos generated $992.5 million in revenue in its fiscal 2017, and booked a net loss of $14.2 million.

Variety was first to report of the company’s plans to go public in April. Its IPO could be impacted by the Trump administration’s ongoing trade war with China, with a recent report indicating that Sonos speakers could be subject to a 10% tariff.

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