BioLingus (Cayman) Limited (SUBL) Stock, NCI Stock, MAMO Stock, SCRP Stock, WETH Stock, MTRS Stock, AMDI Stock, JBDI Stock, WCT Stock, IPO, KYTX Stock, CGON Stock, SPGC Stock, SRM StockNiloofer Shaikh,
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The U.S. IPO market is slowly reviving after a two-year pause that has been attributed to an aggressive tightening cycle by the Federal Reserve and geopolitical uncertainty. Drug developers have scored recent wins, as seen with the successful IPOs of Kyverna Therapeutics (NASDAQ:KYTX) and CG Oncology (NASDAQ:CGON), highlighting the growing demand for healthcare innovations and investment opportunities in the sector. The Renaissance IPO ETF (NYSEARCA:IPO) is still down nearly 2% YTD, trailing the S&P 500, which recently topped the 5,000-point milestone and has gained at least 5.4% during the same period.
Here are some of the other major headlines in the IPO market:
Coming IPOs that are expected to price this week
- Amphitrite Digital (AMDI) is raising $7M by issuing 1.8M shares at an estimated price range of $3.50-$4.50 per share. Description: A maritime tour operator in the U.S. and U.S. Virgin Islands.
- Metros Development (MTRS) is raising $6.4M by offering 1M shares at a price of $6.4 per share. Description: A real estate consulting company based in Tokyo, Japan.
- Wetouch Technology (OTCQB:WETH) is raising $24M by offering 4M shares at price estimated between $5-$7 per share. Description: China based touchscreen manufacturer.
- Scripps Safe (SCRP) is raising $6M by issuing 1.2M shares estimated to price at $5 per share. Description: A pharmaceutical supply chain solutions platform.
- Massimo Group (MAMO) is raising $5.9M by issuing 1.3M shares at an estimated price range between $4-$5 per share Description: A powersport vehicle and motor boat maker.
- NYIAX (NYX) is raising $8.4M by issuing 2.1M shares estimated to price at $4 per share. Description: An advertising contract marketplace.
- Neo-Concept International Group Holdings (NCI) is raising $10.4M by offering 2.3M shares at a price range of $4-$5 per share. Description: A Hong Kong-based apparel retailer and supply chain services provider.
- BioLingus Cayman Limited (SUBL) is raising $7.2M by offering 0.4M shares priced at $20 per share. Description: A Swiss biotech company.
Note: Delays and last-minute changes may impact IPO debuts.
New notable filings
- Invizyne Technologies (IZTC) has filed with the SEC to raise up to $17M in an initial public offering. The company plans to offer 4.3M shares at $4. The company, founded in 2019, plans to list on Nasdaq under the symbol IZTC. Description: A California-based biomanufacturing platform developer.
- Wellchange Holdings (WCT) has filed with the SEC to raise up to $9 million in an initial public offering. The company plans to offer 2 million shares at a price range of $4 to $5, with a market value of $95 million at the midpoint. Wellchange Holdings, founded in 2012 plans to list on Nasdaq under the symbol WCT. Description: A Hong Kong-based software solutions provider for small and medium-sized businesses.
- Singapore-based JBDI Holdings (JBDI) has filed with the SEC to raise up to $10M in an initial public offering by offering 2.3M shares (22% secondary) at a price range of $4 to $5. JBDI Holdings, founded in 1983 plans to list on the Nasdaq under the symbol JBDI. Description: A supplier of new and reconditioned steel and plastic drums.
Terms and changes
- TessPay (TPI) has announced its terms for an IPO. The company plans to raise $7M by offering 1.3M shares at a price range of $4 to $6. TessPay, which uses blockchain technology for financial transactions, has been deployed in the wholesale telecommunications industry and has expanded into funding providers and major projects in the commercial construction industry. The company, founded in 2017 plans to list on the NYSE American under the symbol TPI.
- SolarJuice (SJA), a Sydney-based solar energy equipment and services provider spun out of SPI Energy, has reduced its proposed deal size for its upcoming IPO. The company now plans to raise $19M (58% less in proceeds than previously anticipated) by offering 3.8M shares at a price range of $4 to $6. The company previously filed to offer 9 million shares at the same range. It plans to list on the Nasdaq under the symbol SJA.
Lockup period expirations
- Sacks Parente Golf (NASDAQ:SPGC) on 2/12/2024. Price movement over the past six months: -97%.
- SRM Entertainment (NASDAQ:SRM) on 2/12/2024. Price movement over the past six months: -68.3%.
