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One Stop System goes public at $5 a share, below expected range
One Stop Systems, an Escondido maker of high performance computing systems, became a publicly traded company on Thursday, raising $19 million in the first public stock offering of the year for a San Diego company. The company's shares opened at $5, below the expected range of $6 to $8 in its prospectus. One Stop sold more shares than projected, offering 3.8 million compared with the 2.9 million targeted in the prospectus. The company will use the proceeds to pay down debt and for working capital. Roth Capital Partners was the lead underwriter on the deal, with Benchmark Co. as co-manager.