Israel, China and the healthcare sector are in play today (Thursday, Aug. 25, 2022) as Wall Street starts to wrap things up for the last full week of August. Up to six IPOs are set for pricing tonight with combined IPO proceeds estimated at $126.53 million.
Two Israeli companies are in the mix today:
–Mobilicom Ltd. (MOB/ MOBBW) – priced Wednesday night (Aug. 24, 222) – started trading today on the NASDAQ. This drone and robotics hardware and software company’s unit IPO was priced at $4.13 per unit, below its assumed IPO price, with more units sold in the IPO – 2.86 million units sold, up from 1.56 million units in the prospectus – to raise $11.8 million. Mobilicom’s American Depositary Shares (ADS) slipped to $4.00, down 13 cents, at the opening trade at 11:18 a.m. EDT today on volume of 563,306 shares, according to NASDAQ. Mobilicom’s ADS then rebounded to trade at midday at $5.80 – up $1.80 from its IPO price for a gain of 43.58 percent. Mobilicom’s stock (ADS) closed at $5.47, up $1.34 or 32.5 percent from the IPO price. Mobilicom’s warrants (MOBBW) opened at 62 cents and closed at 74.9 cents, NASDAQ records show. ThinkEquity was the sole book-runner.
–Jeffs’ Brands Ltd. (JFBR proposed) is expected to price tonight (Thursday, Aug. 25, 2022): 2.5 million units at $5.20 to $7.20 to raise $16.0 million. Aegis Capital is the sole book-runner. Jeffs’ Brands is a holding company for Amazon resellers of consumer products.
China is on the IPO marquee – as it has been for most of the summer of 2022. Jianzhi Education Technology Group Company Ltd. (JZ proposed) is expected to price its small-cap IPO tonight (Thursday, Aug. 25, 2022). This Chinese EdTech company provides digital education content to higher education institutions and career training content online to individuals. The IPO consists of only 5.0 million shares at $5.00 to $7.00 to raise $30.0 million. AMTD, the Hong Kong-based investment bank, and Univest Securities are the joint book-runners.
Jianzhi Education Technology is profitable, according to the prospectus.
China is the common thread connecting six small-cap IPOs – all priced this summer – that scored big gains in the aftermarket.
Malaysia is the common denominator of two more small-cap IPOs that popped in their “summer of ‘22” debuts: Starbox Group Holdings Ltd. (STBX) (priced on Monday night, Aug. 22, 2022) and Treasure Global, Inc. (TGL) (priced on Aug. 10, 2022).
Two Micro-Cap Healthcare IPOs
A pair of tiny healthcare IPOs are scheduled for pricing tonight (Thursday, Aug. 25, 2022). Let’s take a look.
bioAffinity Technologies, Inc. (BIAF proposed), a San Antonio-based biotech developing CyPath Lung, its non-invasive test to help doctors detect early-stage non-small cell lung cancer (NSCLC), expects to price its tiny IPO tonight. WallachBeth Capital is the sole book-runner. The IPO consists of 1.3 million units at $6.00 to $6.25 to raise $7.9 million.
PaxMedica (PXMD proposed), a Tarrytown, N.Y.-based early clinical biopharmaceutical company developing its lead drug candidate, PAX-101 (IV form of suramin), to treat the core symptoms of autism spectrum disorder (ASD), expects to price its tiny IPO tonight. Craft Capital and R.F. Lafferty & Co. are the joint book-runners. The deal’s size: 1.55 million shares at $4.50 to $6.50 to raise $8.5 million.
A SPAC IPO & A Small Website Manager’s IPO
Two more deals – a SPAC IPO and the IPO of a small specialty website management company – are also expected to price tonight (Thursday, Aug. 25, 2022) for trading Friday.
Aquaron Acquisition Corp. (AQUNU proposed), a new energy-focused SPAC based in New York, expects to price its small IPO – 5.0 million units at $10 each to raise $50 million – tonight. Chardan is the sole book-runner.
Onfolio Holdings Inc. (ONFO proposed), a holding company that owns or runs 18 small specialty websites, expects to price its small-cap IPO tonight. EF Hutton as the sole book-runner. The deal’s size: 3.1 million units at $4.50 to raise $14.1 million.
Big Bank Sighting
A trio of big banks – Morgan Stanley, Jefferies and Cowen – was spotted on an S-1 filing this week by Third Harmonic Bio, Inc. (THRD proposed). Seeing these names as the joint book-runners for a sizable IPO gave IPO players more reason to hope that the IPO Calendar will pick up speed after Labor Day. This rare disease biotech’s IPO proceeds are estimated at $150 million.
Week of Aug. 29, 2022
Get ready to channel your inner Cheech & Chong. A hemp cigarette maker’s tiny IPO – Hempacco (HPCO proposed) – is the only deal on the IPO Calendar so far for the week of Aug. 29, 2022. This is usually one of the slowest weeks of the year as investment bankers, IPO investors and other Wall Street denizens head for Bermuda or other lovely locales to get ready for the long Labor Day holiday weekend.
This year’s August slowdown, however, departed from the playbooks of yesteryear. Smaller investment banks and their syndicate desks kept their pinstripes (or polo shirts) close to the proverbial grindstone as they continued to price IPOs at a steady pace.
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.
To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.
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