Simwon America (SWA.US) files for Nasdaq IPO, plans to raise up to $50 million.

Electric vehicle structural component manufacturer Simwon America filed for an IPO with the U.S. Securities and Exchange Commission (SEC) last Friday, seeking to raise up to $50 million. The company was spun off from South Korea's MS Autotech. According to the offering terms, Simwon America plans to offer 2.5 million shares, of which 40% are secondary shares, at a price range of $18 to $22 per share. Based on the midpoint of the price range, the company would have a fully diluted market capitalization of approximately $295 million. Following the offering, South Korea's Simwon Techa wholly owned subsidiary of Myoung Shin Industrywill hold 81% of the equity, making Simwon America a controlled company. The company primarily manufactures body-in-white structural components, including door ring assemblies, B-pillars, and side body structures. It is a Tier 1 supplier to Tesla, which accounts for nearly all of its revenue; in fiscal year 2026, the Model 3 Highland and Model Y together accounted for 98.5% of its revenue. The company operates three factories in Lathrop, California, adjacent to Tesla's Fremont assembly center, with processes covering hot stamping, cold stamping, laser cutting, and Siasun Robot&Automation welding. The Lathrop, California-based company was founded in 2016 and recorded revenue of $324 million for the 12 months ended June 30, 2026. The company plans to list on the Nasdaq under the ticker "SWA" and confidentially submitted its application on April 1, 2026. WallachBeth Capital is serving as the sole bookrunner for the transaction.