Marijuana is the word of the day at the NASDAQ. Shares of Bright Green Corp. (BGXX), a federally licensed cannabis producer, are expected to be released for quotation on the NASDAQ today – Tuesday, May 17, 2022 – at 9:50 a.m. EDT. Trading is likely at around 10 a.m. This is a direct listing – NOT an IPO.
Bright Green Corp. offered 158.249 million shares of common stock via a direct listing on the NASDAQ, which set the reference price at $8 a share. EF Hutton served as the financial advisor.
The company intends to grow cannabis on its land and in its greenhouses in New Mexico.
Other than that, two micro-cap IPOs are also set to start trading today on the NASDAQ:
*OKYO Pharma Ltd. (OKYO) priced 625,000 American Depositary Shares (ADS) at $4.00 each on Monday night (May 16, 2022) to raise $2.5 million. The British pre-clinical biotech is developing its lead drug candidate, OK-101, to treat dry eye disease. ThinkEquity was the sole book-runner.
*Visionary Education Technology Holdings Group (VEDU) priced 4.25 million shares at $4.00 each on Monday night (May 16, 2022) to raise $17 million. The Canadian company is a licensed provider of private online and in person educational services for students who live in Canada as well as for international students. Joseph Stone Capital was the sole book-runner.
This week’s exceptionally light IPO Calendar is rounded out by a few SPACs.
Stay tuned.
(For more information about these companies, please go to our IPO Calendar and click on the company’s name, which has a hyperlink to the company’s IPO Profile and a link to its prospectus.)
(Never trade on proposed symbols. You might wind up owning something on the OTC Bulletin Board.)
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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