These are the upcoming IPOs (initial public offerings) for the week of January 6 to January 10, based on TipRanks’ IPO Calendar. An IPO refers to the public market debut of a private company. Following the IPO, the company’s shares become available for trade (sale/buy) on the stock exchange.
Stay Ahead of the Market:
- Discover outperforming stocks and invest smarter with Top Smart Score Stocks
- Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener
There are several advantages and disadvantages of a company going public. The positives include gaining the ability to raise capital, greater liquidity, and improved brand recognition. On the other hand, a publicly traded company faces stringent financial reporting norms, is constantly in the public eye and answerable to shareholders, and experiences high costs related to maintaining compliance with regulatory requirements.
With this background in mind, let’s quickly look at the upcoming IPOs for this week.
FBS Global Ltd.
Singapore-based and Cayman Islands-incorporated FBS Global operates through its wholly owned subsidiary, Finebuild Systems Pte Ltd. The company offers a full suite of engineering services, including supply of building materials, precast concretes, recycling of industrial wastes, and pavement consultancy services. The company caters to large, medium, and small-scale infrastructure projects.
FBS Global seeks to issue 2.25 million of its common stock for an offer price between $4.50 and $5 a share on the estimated date of January 7. The company intends to list its shares on the Nasdaq Capital Market exchange under the ticker symbol “FBGL.”
Moreover, the company intends to raise $8.5 million in net proceeds from the offering, assuming the offering price of $4.50 per share. Notably, FBS Global intends to use 30% of the net proceeds toward M&A activities, 30% for expanding its existing locations and manpower, 10% for working capital and general corporate purposes, and rest 30% for research and development and AI (artificial intelligence) analytics.
Cortigent, Inc.
Cortigent is engaged in developing precision (targeted) neurostimulation systems that stimulate specific areas of the brain and enable patients to restore their critical body functions. The company’s technology is based on its proprietary neuroscience, microelectronics, software, and data processing capabilities.
Cortigent seeks to issue 1.5 million ordinary common shares (15% over-allotment option) on the estimated date of January 8 at an offer price of $10 apiece. The stock is expected to be listed on the NYSE under the ticker symbol “CRGT.”
Furthermore, the company intends to raise $14.99 million in net proceeds (considering full overallotment by underwriters) from the offering. Specifically, the net proceeds will be used for various purposes, including research and development studies for Orion and the stroke recovery system, manufacturing and assembly of new devices, trials, repayment of amounts due to third parties, and general working capital requirements.