Shares of Invizyne Technologies gained as much as 13% following the company’s $15M initial public offering on Wednesday.
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LATEST IPOS AND DIRECT LISTINGS:
Invizyne Technologies (IZTC) opened on November 13 at $11.10. Invizyne is a cell-free enzyme-based biomanufacturing technology company that says it is leveraging cell-free, multi-step, enzyme-based systems to “efficiently transform natural or renewable resources into highly sought after biochemicals,” such as Active Pharmaceutical Ingredients, or APIs, biofuels, food flavors, fragrances, and cosmetics. Invizyne intends to use the net proceeds from the 1.875M share offering for expanding production capabilities, expanding business development, sales and marketing, repayment of a related party loan, working capital and other general corporate purposes.
Alpha Cognition (ACOG) opened on November 12 at $7.00. The company had priced its upsized public offering of 8.659M common shares at a public offering price of $5.75 per share. Alpha Cognition intends to use the proceeds towards the commercialization and launch of Zunveyltm in Alzheimer’s Disease, further research and development of its pipeline product candidates, continued commercial CMC activities, and for working capital and general corporate purposes.
Aduro Clean Tech (ADUR) opened on November 7 at $4.25. The company had announced the pricing of its underwritten U.S. public offering of 941,177 common shares at a public offering price of $4.25 per common share. Aduro expects to use the net proceeds from this offering for ongoing research and development costs, expenditures related to the construction of its “Next Generation Process” unit and the remainder for general corporate purposes and working capital.
RECENT SPAC IPOS:
GSR III Acquisition (GSRT) opened on November 7 at $9.98.
Horizon Space Acquisition II (HSPT) opened on November 15 at $9.99
END OF THE WEEK PERFORMANCE:
- Invizyne Technologies – $11.12;
- Alpha Cognition – $5.37;
- Aduro Clean Tech – $5.86.
RECENT IPOS TO WATCH: Ingram Micro (INGM), WeRide (WRD), Septerna (SEPN), SAG Holdings (SAG), Synergy CHC (SNYR), High Roller Technologies (ROLR), FB Bancorp (FBLA), Founder Group (FGL), Li Bang (LBGJ) and Huhutech (HUHU) are among stocks that could see new coverage roll out this upcoming week as the quiet periods for banks that underwrote the companies’ IPOs expire.
UPCOMING IPOS: Upcoming IPO and direct listings expected include Pony AI (PONY), Infinity Natural Resources (INR), Basel Medical Group (BMGL), EPWK Holdings (EPWK), Fast Track Group (FTRK), Rivus, and ShipBob.
Click here to see upcoming IPO calendar on TipRanks.
Pony AI has filed with the SEC for an initial public offering of American depositary shares, or ADSs, representing Class A ordinary shares. The company has applied to list the ADSs representing its Class A ordinary shares on the Nasdaq Global Select Market under the symbol ” PONY.” Pony AI Inc. is a Cayman Islands holding company which does not have any substantive business operations by itself. In China, Pony AI Inc. conducts operations through its PRC subsidiaries. The prospectus filed with the SEC states: “Pony is a global leader in achieving large-scale commercialization of autonomous mobility… We aim to mass commercialize our revolutionary autonomous driving technology to deliver safe, sustainable, and accessible mobility to people and businesses around the world.”
Infinity Natural Resources filed for an initial public offering of its Class A common stock. The company intends to list its Class A common stock on the NYSE under the symbol “INR.” Infinity Natural Resources is an independent exploration & production company “dedicated to the Appalachian region.”
Basel Medical Group filed for an initial public offering on the Nasdaq under the symbol “BMGL.” Cathay Securities is serving as the underwriter on the deal. Basel is a healthcare provider across Singapore and Southeast Asia.
EPWK Holdings filed an initial public offering of 2.75M Class A ordinary shares. The company expects the initial public offering price will be between $4.00-$6.00 per Class A ordinary share, and has applied to list the shares on the Nasdaq Global Market under the symbol “EPWK.”
Fast Track Group filed for an initial public offering of 3M ordinary shares. It is currently estimated that the initial public offering price per share will be between $4.00-$5.00. The company has applied to list its shares on the Nasdaq Capital Market under the symbol “FTRK.”
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.
Rivus Pharmaceuticals, a drug developer focused on obesity treatments, is considering a US initial public offering as soon as 2024, Bloomberg’s Bailey Lipschultz reports, citing people familiar with the matter. The company is working with banks on a listing, said the people. Rivus, which counts RA Capital Management among its investors, may target raising more than $25M, one of the people said.
OTHER IPO NEWS: NielsenIQ is exploring an initial public offering that could value the consumer intelligence firm at about $10B, Bloomberg’s Ryan Gould and Dinesh Nair report, citing people familiar with the matter. NielsenIQ, which is backed by Advent International and KKR (KKR), has begun talking to potential advisers about a listing in 2025, the people said. No final decision has been made and the Chicago-based company could opt to stay private, the people said.
Opening Day” is The Fly’s recurring series of stories on the latest initial public offerings, their performance, and upcoming IPOs.