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Dermatology biotech Azitra (AZTR), lowered the proposed deal size for its upcoming IPO on Monday. The company now plans to raise $8 million by offering 1.5 million shares at a price range of $4.50 to $5.50. The company had previously filed to offer 2.4 million shares at the same range to raise $12 million at a $70 million market cap. At the midpoint, Azitra will raise 38% less in proceeds than previously anticipated.
Canadian renewables company SusGlobal Energy withdraws $12 million Nasdaq uplisting
SusGlobal Energy, a Canadian renewables company focused on developing waste-to-energy projects, withdrew its plans for an initial public offering on Tuesday. It had filed in January 2022 and set terms the following May, planning to raise $12 million by offering 2.4 million shares at $5. It had not updated its prospectus since then. The company is currently listed on the OTC under the symbol “SNRG.”
The Toronto, Canada-based company was founded in 2014 and booked $1 million in revenue for the 12 months ended December 31, 2021. It had planned to list on the Nasdaq under the symbol SNRG. Spartan Capital Securities and Revere Securities were set to be the joint bookrunners on the deal.
Highlight of the week was restaurant chain CAVA Group (CAVA) launched its $260 million offering and is expected to price in the week ahead. Holdover A
[See the full post at: US Weekly IPO and SPAC Monitor: Restaurant Chain CAVA Group, BranchOut Food ]
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