Image Source: Kevin Smith on FlickrChinese digital textbook provider Jinxin Technology and San Jose education technology provider zSpace made their public debuts this week, as another slow IPO year approaches its end.
Latest IPOs and Direct Listings
Jinxin Technology (NAMI) opened on Dec. 6 at $4.25. The company had priced its initial public offering of 1.25 million American depositary shares at a price to the public of $4.00 per share. Headquartered in Shanghai, China, Jinxin is a digital content service provider.zSpace (ZSPC) opened on Dec. 5 at $5.80. The company had priced 1.875 million shares at $5.00. The deal size was reduced to 1.875 million shares from 2.0 million, and was priced at the midpoint of the $4.50-$5.50 target range.zSpace, which says it delivers “innovative augmented and virtual reality experiences for STEM, CTE, and career readiness programs,” notes its solutions are used by over 3,500 public school districts, technical centers, community colleges, and universities.Linkers Industries (LNKS) opened on Dec. 5 at $4.25. The company had priced its initial public offering of 1.9 million Class A ordinary shares at $4.00 per share. The company intends to use the net proceeds to acquire companies and/or form joint ventures within the value chain of the wire/cable harnesses industry; to purchase machinery/equipment; to promote marketing and set up global sales offices, particularly in the U.S.; and to fund working capital.Jupiter Neurosciences (JUNS) opened on Dec. 3 at $4. The company had priced 2.75 million shares at $4.00. The deal priced at the low end of the $4.00-$5.00 range. Jupiter Neurosciences is a clinical stage pharmaceutical company advancing a pipeline targeting neuroinflammation with its “unique resveratrol platform product,” the company states.
Recent SPAC IPOs
Shepherd Ave Capital Acquisition (SPHA) opened on Dec. 5 at $10. SPAC Advisory Partners, a division of Kingswood Capital Partners, is acting as the sole book running manager for the initial public offering.Tavia Acquisition (TAVI) opened on Dec. 4 at $10. The blank check company says it is “strategically focused on sectors pivotal to advancing sustainability and innovation, including energy transition and critical materials, circular economy initiatives, and innovative agricultural and food technologies.”
End-of-the-Week Performance
Upcoming IPOs
Upcoming IPO and direct listings expected include Infinity Natural Resources, Basel Medical Group, EPWK Holdings, Fast Track Group, Rivus, and ShipBob.Infinity Natural Resources filed for an initial public offering of its Class A common stock. The company intends to list its stock on the NYSE under the symbol “INR.” Infinity Natural Resources is an independent exploration & production company that is “dedicated to the Appalachian region.”Basel Medical Group filed for an initial public offering on the Nasdaq under the symbol “BMGL.” Cathay Securities is serving as the underwriter on the deal. Basel is a healthcare provider across Singapore and Southeast Asia.EPWK Holdings filed an initial public offering of 2.75 million Class A ordinary shares. The company expects the initial public offering price will be between $4.00-$6.00 per Class A ordinary share, and has applied to list the shares on the Nasdaq Global Market under the symbol “EPWK.”Fast Track Group filed for an initial public offering of 3 million ordinary shares. It is currently estimated that the initial public offering price per share will be between $4.00-$5.00. The company has applied to list its shares on the Nasdaq Capital Market under the symbol “FTRK.”ShipBob has selected JPMorgan (JPM) to lead its planned listing, Bloomberg’s Amy Or, Gillian Tan, and Ryan Gould reported earlier this year, citing people familiar with the situation. The Chicago-based e-commerce fulfillment service provider has also chosen Citigroup (C) as part of the syndicate, the authors said. An initial public offering could occur as soon as later this year and could value the company at $4 billion, the authors noted.Rivus Pharmaceuticals, a drug developer focused on obesity treatments, is considering a US initial public offering as soon as 2024, Bloomberg’s Bailey Lipschultz reported earlier, citing people familiar with the matter. The company is working with banks on a listing, said those cited. Rivus, which counts RA Capital Management among its investors, may target raising more than $25 million, one of the people added.More By This Author:Wall Street’s Top 10 Stock Calls This Week – Saturday, Dec. 7Here’s What Wall Street Experts Are Saying About Salesforce Ahead Of Earnings Pony AI Shares Climb 19% After IPO
