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.
(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.
Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums), is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute change.