Amphitrite Digital IPO, an overview

One of the primary competitors includes companies like Fugro, which provides geo-data solutions for the maritime sector. Fugro specializes in collecting and analyzing data related to the earth’s surface and subsurface, offering services that range from hydrographic surveys to geophysical analysis, which are critical for offshore industries. Their expertise in geo-data and their extensive global reach make them a formidable competitor in terms of data-driven maritime solutions.

Another significant competitor is Teledyne Marine, a division of Teledyne Technologies. Teledyne Marine offers a wide array of underwater and surface monitoring equipment, including sensors, autonomous vehicles, and sonar systems. Their products are widely used in scientific research, defense, and commercial applications, making them a strong competitor in terms of hardware and integrated systems for marine data collection and analysis.

In the environmental and oceanographic monitoring space, Xylem Inc. competes by providing innovative solutions that address water challenges globally. Through its subsidiary, YSI, Xylem offers sensors, instruments, and systems for water quality monitoring, which are used in oceanography and coastal research. Their focus on sustainability and environmental monitoring aligns closely with Amphitrite Digital’s mission, making them a key competitor in this area.

Kongsberg Maritime, a part of the Kongsberg Group, is another noteworthy competitor. They provide advanced maritime automation, control, and monitoring systems, including integrated solutions for ships and offshore installations. Kongsberg’s long history in maritime technology and their broad portfolio, which includes everything from vessel control systems to underwater robotics, positions them as a leader in maritime digital solutions.

Furthermore, Ocean Infinity, a relatively newer but rapidly growing company, also competes by focusing on ocean exploration and data acquisition through autonomous underwater vehicles (AUVs) and remotely operated vehicles (ROVs). Their emphasis on using robotic technology for deep-sea exploration and data collection directly competes with Amphitrite Digital’s offerings in terms of innovation and advanced maritime technology.

Lastly, competitors also include various specialized startups and research-focused companies that are developing new technologies for ocean data analytics, environmental monitoring, and maritime operations. These companies often bring disruptive innovations to the market, posing a challenge to more established firms like Amphitrite Digital.

Overall, Amphitrite Digital faces competition from companies with strong technological capabilities, global reach, and expertise in integrating digital solutions with maritime and oceanographic needs. However, its focus on advanced digital integration, real-time data analytics, and environmental sustainability helps differentiate it in a crowded and highly specialized market.

Amphitrite Digital IPO

According to IPO Scoop, in March of 2024 the company withdrew its IPO, which was set to raise $7.0-million at a price range of $3.50 to $4.50.

This news followed on a January report from Renaissance Capital that the company had cut the size of the offering by 30%.

“Amphitrite Digital, which provides maritime tours and activities in the continental US and US Virgin Islands, lowered the proposed deal size for its upcoming IPO on Tuesday. In its latest filing, the company also changed its proposed listing exchange from the Nasdaq to the NYSE American, and replaced sole bookrunner Maxim Group LLC with Kingswood Capital Markets.

The US Virgin Islands-based company now plans to raise $7 million by offering 1.8 million shares at a price range of $3.50 to $4.50. The company had previously filed to offer 1.9 million shares at a range of $4.25 to $6.25. At the midpoint of the revised range, Amphitrite Digital will raise 30% less in proceeds than previously anticipated,” the site said. “Amphitrite Digital was founded in 2015 and booked $7 million in revenue for the 12 months ended September 30, 2023. It plans to list on the NYSE American under the symbol AMDI. Kingswood Capital Markets is the sole bookrunner on the deal”