It’s not exactly dim sum. More like light bites: Eight micro-cap deals – seven tiny IPOs and one small SPAC IPO – are on the IPO Calendar for the week of Feb. 13, 2023. Three deals are expected to start trading on Valentine’s Day – Tuesday, Feb. 14, 2023. Bankers expect to raise $147.6 million, if all eight deals get done. That’s a change of pace from last week’s run of eight deals – including three big IPOs – and a grand total of about $1.5 billion in proceeds.
Health care is the dominant sector this week. Four of this week’s eight deals so far are from the health-care realm or adjacent to it:
- Bullfrog AI Holdings (BFRG/ BFRGW proposed) – An AI-driven platform for drug R&D – a deal carried over from previous weeks – 1.32 million units (stock and warrants) at $6.50 to raise $8.6 million – WallachBeth Capital and Kingswood Capital Markets joint book-runners – set to price Monday night , Feb. 13, 2023, to trade Tuesday, Feb. 14, aka Valentine’s Day
- Intensity Therapeutics, Inc. (INTS proposed) – A Phase 2 cancer biotech with Merck and Bristol-Myers Squibb collaborations – 1.78 million shares at $4.50 to raise $8.0 million – The Benchmark Company sole book-runner – set to price Monday night, Feb. 13, 2023, to trade Tuesday (V-Day)
- Alopexx, Inc. (ALPX proposed) – A biotech working on a vaccine and a monoclonal antibody to prevent and treat bacterial, fungal and parasitic infections – MRSA, for example – that express the PNAG (poly N-acetyl glucosamine) pathogen – 3.0 million shares at $5.00 to raise $15.0 million – ThinkEquity sole book-runner – set to price Tuesday night, Feb. 14, to trade Wednesday, Feb. 15, and
- Neuraxis, Inc. (NRXS proposed) – A medical device company whose lead product, the IB-Stim, uses its proprietary technology to give pain relief to children ages 11-12 and teens ages 13-18 suffering from the chronic abdominal pain of IBS (irritable bowel syndrome) – 1.88 million shares at $7.00 to $9.00 to raise $15.0 million – Alexander Capital sole book-runner – set to price Wednesday night, Feb. 15, to trade Thursday, Feb. 16.
Rounding out this week’s line-up are a small-cap SPAC IPO along with tiny IPOs from a fitness company, a digital gaming company and an electric bike company:
- Mars Acquisition Corp. (MARXU proposed) – New York-based SPAC focused on EVs (electric vehicles), health care, FinTech (financial technology), AI and other sectors says it will not enter into a business combination with any entity in China, Hong Kong or Macau – 6.0 million units at $10.00 each to raise $60.0 million – Maxim Group sole book-runner – set to price Monday night, Feb. 13, to trade Tuesday, Feb. 14, Valentine’s Day
- Interactive Strength, Inc. (FORME) (TRNR proposed) – Digital fitness and personal training platform with connected equipment – 2.0 million shares at $6.00 to $8.00 to raise $14.0 million – Aegis Capital Corp. sole book-runner – set to price Tuesday night, Feb. 14, to trade Wednesday, Feb. 15
- NFT Gaming Co. Inc. (The) (NFTG proposed) – Digital gaming company that gives gamers the ability to mint their own affordable NFTs (non-fungible tokens) within the gaming platform – 1.69 million shares at $4.15 to raise $7.0 million – Laidlaw & Co. (UK) Ltd. sole book-runner – set to price Tuesday night, Feb. 14, to trade Wednesday, Feb. 15, and
- SONDORS Inc. (SODR proposed) – Malibu-based maker of electric bikes (e-bikes) and an electric motorcycle – 4.0 million shares at $4.00 to $6.00 to raise $20.0 million – A.G.P. sole book-runner – set to price Tuesday night, Feb. 14, to trade Wednesday, Feb. 15.
All are NASDAQ listings. Some of these names are carry-overs from last week or the past few months as they awaited NASDAQ approval. Small-cap IPOs have faced a longer and much more winding road to going public since last September, when NASDAQ stepped up its review process for this segment of the IPO market.
No Chinese IPOs are on this week’s roster. But that could change on Monday morning after the SEC opens the blinds again on its filing window.
Stay tuned.
(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on IPOScoop.com’s website.)
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.
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 changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.