- 30 Aug '22 at 7:04 am #42742
Hemp-based cigarette maker Hempacco prices IPO at $6
August 30, 2022
Hempacco, which manufactures nicotine-free cigarettes made from hemp, raised $6 million by offering 1 million shares at $6, as expected. The company originally planned to offer 3 million shares at a range of $4 to $6 before revising the terms in late July.
Hempacco plans to list on the Nasdaq under the symbol HPCO. Boustead Securities acted as sole bookrunner on the deal.30 Aug '22 at 7:06 am #42743
Singapore-based T20 Holdings cuts deal size by 50%, removes warrants ahead of $10 million US IPO
August 29, 2022
T20 Holdings, which provides energy services in Papua New Guinea, lowered the proposed deal size for its upcoming IPO on Monday, and removed warrants from the offering.
The Singapore-based company now plans to raise $10 million by offering 2 million shares at a price range of $4 to $6. The company had previously filed to offer 3.3 million units at a range of $5 to $7. Each unit was to consist of one share of common stock and one warrant, exercisable at 125% of the IPO price. At the midpoint of the revised range, T20 Holdings will raise -50% less in proceeds than previously anticipated, and command a fully diluted market value of $98 million.
Operating through various subsidiaries such as Twenty20 Energy Systems, T20 Holdings has seven years of experience with energy and construction focused projects concentrated in Papua New Guinea (PNG). One of its larger projects is a 45 MW gas-fired power station, which delivers electricity for its client and the national utility (PNG Power) to feed into the Port Moresby power grid. The company also has a multiyear, national PNG project in its pipeline with a signed contract to design, supply, and construct a 66 MW gas-fired power plant using the local LNG supply in the PNG Hela region. Other services include hydrogen liquification and storage, usage metering and billing systems, and project implementation planning, among others.
T20 Holdings was founded in 2014 and booked $12 million in revenue for the 12 months ended June 30, 2022. It plans to list on the Nasdaq under the symbol TWEN. EF Hutton is the sole bookrunner on the deal.31 Aug '22 at 7:53 am #42811
Chinese garment maker Addentax Group prices Nasdaq uplisting at $5
August 31, 2022
Addentax Group, which manufactures textiles and garments and provides logistics services in China, raised $25 million by offering 5 million shares at $5, below the last close of its shares on the OTC ($7.50).
The company’s garment manufacturing business consists of sales made principally to wholesalers located in China. Its logistics services business consists of delivery and courier services covering 79 cities in seven provinces and two municipalities in China, with a target to develop an additional 20 logistics points in existing serving cities in 2023.
Addentax Group plans to list on the Nasdaq under the symbol ATXG. Network 1 Financial Securities acted as sole bookrunner on the deal.31 Aug '22 at 7:54 am #42812
Tech-focused SPAC Israel Acquisitions decreases deal size by 25% ahead of $150 million IPO
August 31, 2022
Israel Acquisitions, a blank check company targeting Israeli or Israel-related tech businesses, lowered the proposed deal size for its upcoming IPO on Wednesday.
The Bee Cave, TX-based company now plans to raise $150 million by offering 15 million units at $10. Each unit contains one share of common stock, and one whole warrant, exercisable at $11.50. The company had previously filed to offer 20 million units at $10, with each unit containing one share of common stock, one-half of a warrant, and one right to receive one-tenth of a share. At the revised deal size, Israel Acquisitions will raise -25% less in proceeds than previously anticipated.
Israel Acquisitions is led by CEO and Director Ziv Elul, co-founder and former CEO of adtech company Inneractive, and Chairman Izhar Shay, a venture partner at Disruptive AI, Chairman of Kendago, and Israel’s former Minister of Science and Technology. The company plans to focus on high-growth technology companies that are domiciled in Israel, that carry out all or a substantial portion of their activities in Israel, or that have some other significant Israeli connection.
The company was founded in 2021 and plans to list on the Nasdaq under the symbol ISRLU. BTIG is the sole bookrunner on the deal.31 Aug '22 at 7:54 am #42813
Radiation therapy-focused biotech Shuttle Pharmaceuticals prices IPO at $8.13
August 31, 2022
Shuttle Pharmaceuticals, a Phase 2-ready biotech developing drugs to improve radiation therapy, raised $10 million by offering 1.2 million units at $8.13, as expected. Each unit consists of one share of common stock and one warrant, exercisable at $0.01. The company revised terms several times ahead of pricing, originally planning to offer 3 million shares at a range of $4.50 to $5.00.
Because the company offered units with warrants attached, Shuttle Pharmaceuticals will be excluded from Renaissance Capital’s 2022 IPO stats.
Formed by faculty members of the Georgetown University Medical Center, Shuttle Pharmaceuticals is a discovery and development stage specialty pharmaceutical company focused on improving the outcomes of cancer patients treated with radiation therapy (RT). Its sole clinical candidate, Ropidoxuridine (IPdR), is an orally available halogenated pyrimidine with strong cancer radiation sensitizing properties being developed for glioblastoma and sarcoma. The company believes it is positioned to initiate Phase 2 studies with Ropidoxuridine and RT in 2022.
Shuttle Pharmaceuticals plans to list on the Nasdaq under the symbol SHPH. Boustead Securities and Valuable Capital acted as joint bookrunners on the deal.03 Sep '22 at 3:00 pm #42692Super HarleyParticipant
Heading into September IPOs are still small in number, though August delivered the most IPO issues for the year with 12. In a shortened Labor Day week
[See the full post at: US Weekly IPO and SPAC Monitor: Bio-RFID AI Company Know Labs and Neural Biotech Wearable Devices]
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