Opening Day: Actuate Therapeutics makes public debut

Actuate Therapeutics is the latest biotech to join Nasdaq, opening for trading at $9.88 on Tuesday.

LATEST IPOS AND DIRECT LISTINGS:

Actuate Therapeutics (ACTU) opened on August 13 at $9.88. The clinical stage biopharmaceutical company focused on developing therapies for the treatment of “high impact, difficult to treat cancers” had priced its initial public offering of 2.8M shares at a price of $8.00 per share.

RECENT SPAC IPOS:

HCM II Acquisition (HOND) opened on August 16 at $9.99. The blank check company’s primary focus will be in “completing a business combination with an established business of scale poised for continued growth, led by a highly regarded management team.”

SilverBox Corp IV (SBXD) opened on August 16 at $10. The blank check company intends to focus its search on a target business in an industry “where it believes the expertise of its management team will provide it with a competitive advantage in completing a successful initial business combination.”

Voyager Acquisition (VACH) opened on August 9 at $10. The blank check company will seek to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities.

EQV Ventures Acquisition (EQV) opened on August 7 at $9.95. The blank check company is sponsored by an affiliate of the EQV Group and formed for the purpose of entering into a business combination with one or more businesses, priced its initial public offering of 35M units at a price of $10.00 per unit.

END OF THE WEEK PERFORMANCE:

• Actuate Therapeutics – $8.70.

UPCOMING IPOS: Upcoming IPO and direct listings expected include Clario, YXT.com (YXT), Solera (SLRA), ShipBob, and StubHub.

Click here to see upcoming IPO calendar on TipRanks.

Clario, a provider of software to help drugmakers advance treatments through clinical trials, has filed confidentially for an initial public offering and is targeting a valuation of more than $10 billion, Bloomberg’s Michelle F Davis, Dinesh Nair, and Ryan Gould report, citing people familiar with the matter.

YXT.com has filed with the SEC for an initial public offering of American depositary shares, or ADSs. The prospectus states in part, “We are a leader and disruptor of the digital corporate learning industry in China, a market with massive rigid-demand and a total size of RMB126.0 billion in 2023, according to Frost & Sullivan. We have innovated a SaaS model that integrates software and content, effectively assisting customers in the digital transformation of corporate learning. According to Frost & Sullivan, we are the largest digital corporate learning solution provider in China in terms of total revenue, subscription revenue and number of subscription customers in 2023. With our software, we help customers efficiently deploy cloud-based learning platforms at scale. We also offer a broad range of high-quality content, covering the entire corporate learning process of our customers.”

Solera has filed for an initial public offering on the New York Stock Exchange. The company says it is a global provider of software-as-a-service solutions to the vehicle lifecycle ecosystem, providing asset intelligence. For the 2024 fiscal year, 90% of its total revenues were recurring. In 2024 fiscal year, Solera generated revenue of $2.4B, operating income of $591.7M, operating cash flow of $203.9M, a net loss of ($486.3M), adjusted EBITDA of $1.0B and free cash flow of $93.5M.

ShipBob has selected JPMorgan (JPM) to lead its planned listing, Bloomberg’s Amy Or, Gillian Tan, and Ryan Gould report, citing people familiar with the situation. The Chicago-based ecommerce fulfillment service provider has also chosen Citigorup (C) as part of the syndicate, the authors say. An initial public offering could occur as soon as later this year and could value the company at $4B, the authors note.

Opening Day” is The Fly’s recurring series of stories on the latest initial public offerings, their performance, and upcoming IPOs