Impact Biomedical (IBO), a subsidiary of DSS (NYSE:DSS), has disclosed updated terms for a downsized $6M initial public offering.

The company said in a recent SEC filing that it was now looking to offer 1.5M shares priced between $3 and $5, which would raise around $6M if priced at the midpoint. Underwriters would receive a 45-day option to buy up to 225K additional shares to cover any over-allotments.

Impact plans to list its shares on NYSE American under the symbol IBO. Revere Securities is serving as bookrunner on the deal.

In February, Impact Biomedical said in a filing that it was considering offering 2M shares priced between $3 and $5, which would have raised around $8M if priced at the midpoint. Aegis Capital was serving as bookrunner.

Based in Texas, Impact Biomedical discovers, confirms and patents unique sciences and technologies in the healthcare and wellness sectors that can be developed with external partners.