Escondido-based One Stop Systems priced its initial public offering at $5 per share, below the $6 to $8 range it had anticipated.

The $19 million deal is San Diego’s first IPO of the year.

The business made the announcement on Feb. 1. It plans to sell 3.8 million shares, and the offering is expected to close Feb. 5.

Shares were trading at $4.75 in midday trading Feb. 1.

One Stop Systems (Nasdaq: OSS) specializes in ultra-dense, high-performance computing systems.

The business said it plans to use proceeds to pay down debt, for working capital and for general corporate purposes.

For the nine months ended Sept. 30, One Stop Systems had a net income of $218,000 on revenue of $20.5 million. In the same period of 2016, the business reported a net loss of $19,000 on revenue of $12.4 million.

One Stop Systems and a selling stockholder have granted underwriters a 45-day option to purchase up to 570,000 additional shares at the IPO price, less the underwriting discount, to cover over-allotments, if any.

Roth Capital Partners is the sole book-running manager for the offering.