Image Source: www.gotcredit.com via FlickrShares of Infinity Natural Resources jumped almost 11% in their NYSE debut, valuing the oil and natural gas producer at $1.3 billion. The listing arrived amid a more fossil fuel-friendly White House administration. Of note, President Trump declared a national energy emergency last week as he looks to boost production of U.S. oil and gas.
Latest IPOs and Direct Listings
Metsera (MTSR) opened on Jan. 31 at $25.50. The clinical-stage biotechnology company developing next-generation injectable and oral nutrient stimulated hormone analog peptides to treat obesity and related conditions had priced 15.28 million shares at $18.00.Maze Therapeutics (MAZE) opened on Jan. 31 at $16.12. The company had priced its upsized 8.75 million share IPO at $16.00, the midpoint of the $15.00-$17.00 target range.Maze, a clinical-stage biopharmaceutical company that says it is “harnessing the power of human genetics to develop novel, small molecule precision medicines for patients living with common diseases,” has a pipeline led by two wholly owned lead programs, MZE829 and MZE782, each of which represents a novel precision medicine-based approach for chronic kidney disease.Infinity Natural Resources (INR) opened on Jan. 31 at $22.16. The company had priced 13.25 million shares at $20.00, in the middle to upper part of its $18.00-$21.00 range. Infinity is a “growth oriented, free cash flow generating,” independent energy company focused on the acquisition, development, and production of hydrocarbons in the Appalachian Basin.Beta Bionics (BBNX) opened on Jan. 30 at $22. The company, which is engaged in the development of advanced diabetes management solutions, had priced its upsized initial public offering of 12 million shares of common stock at a price to the public of $17.00 per share. The deal size was increased to 12 million shares from 10 million, and it was priced at the high end of the $16.00-$17.00 range.Beta Bionics says the iLet Bionic Pancreas is “the first FDA-cleared insulin delivery device that autonomously determines every insulin dose and offers the potential to substantially improve overall outcomes” across broad populations of insulin-requiring people with diabetes.MSC Income Fund (MSIF) opened on Jan. 29 at $15.43. The externally managed business development company had priced its public offering of 5.5 million shares of its common stock at $15.53 per share.Smithfield Foods (SFD) opened on Jan. 28 at $21.05. The company had priced its initial public offering of 26,086,958 shares of its common stock at a public offering price of $20.00 per share. Smithfield Foods is an American food company, focusing on packaged meats and fresh pork products.
Recent SPAC IPOs
Stellar V Capital (SVCC) opened on Jan. 30 at $10.02. The blank check company was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.FG Merger II (FGMC) opened on Jan. 29 at $9.89. The newly organized blank check company intends to focus its search for a target business in the financial services industry in North America.Drugs Made In America Acquisition (DMAA) opened on Jan. 29 at $10.01. The company “believes that it is possible to mitigate risks in the U.S. medical supply chain by investing in companies that will reduce America’s over-reliance on production of pharmaceuticals from concentrated geographic regions through investments in strategic on-shoring of advanced domestic manufacturing technologies for critical drugs,” it has stated.
End-of-the-Week Performance
Recent IPOs to Watch
Mint (MIMI), 3 E Network Technology (MASK), and Zhengye Biotechnology (ZYBT) are among stocks that could see new coverage roll out this upcoming week as the quiet periods for banks that underwrote the companies’ IPOs expire.
Upcoming IPOs
Upcoming IPO and direct listings expected include the likes of DailyPay, Odyssey Therapeutics, JAJI Global, and ShipBob.DailyPay, a financial services firm that helps workers access their pay early, has kicked off preparations for a potential U.S. stock market listing that could come as soon as the second half of the year, Reuters’ David French and Milana Vinn recently reported, citing people familiar with the matter.The New York-based company is in talks to hire investment bankers for its planned initial public offering that could value the company between $3-$4 billion, the sources said. DailyPay, which charges its customers a small fee for the service, counts the likes of Target (TGT), Kroger (KR), and Hilton (HLT) among its clients.Odyssey Therapeutics has filed with the SEC for an initial public offering of shares of common stock. The company has applied to list its common stock on the Nasdaq Capital Market under the trading symbol “ODTX.” The prospectus filed with the SEC states the following:
“Odyssey is a clinical-stage biopharmaceutical company led by a team and board of drug hunters seeking to transform the standard of care for patients suffering from autoimmune and inflammatory diseases…
“Our most advanced programs include OD-07656, a small molecule scaffolding inhibitor of receptor-interacting protein kinase 2, or RIPK2, for which we intend to commence a Phase 2a monotherapy trial for ulcerative colitis, or UC, in the first quarter of 2025 and a Phase 2a combination trial with vedolizumab in the first half of 2026, and two preclinical programs: a small molecule scaffolding inhibitor of interleukin-1 receptor-associated kinase 4, or IRAK4, and OD-00910, an agonistic protein therapeutic targeting tumor necrosis factor receptor 2, or TNFR2, built from camelid heavy chain variable regions, or VHH, domains.”
CLPS (CLPS) announced that its majority-owned subsidiary, JAJI Global, has filed a registration statement on Form F-1 with the U.S. SEC relating to a proposed initial public offering of JAJI Global’s ordinary shares. Following the offering, CLPS expects to hold a significant voting interest in JAJI Global along with a corresponding economic interest in its subsidiaries.The number of shares to be offered and the price range for the offering have not yet been determined. JAJI Global intends to list its common stock on The Nasdaq Capital Market. According to the F-1, JAJI Global currently has a total share capital of 10 million shares, of which CLPS holds 60%. The funds raised from this IPO will primarily be used for product development, mergers and acquisitions, global expansion, and company operations to drive JAJI Global’s sustained growth.ShipBob selected JPMorgan (JPM) to lead its planned listing, Bloomberg’s Amy Or, Gillian Tan, and Ryan Gould reported last 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.
Other IPO News
HistoSonics, a medical device company whose backers include Johnson & Johnson’s (JNJ) venture capital arm, is weighing a U.S. initial public offering as soon as this year, Bloomberg’s Amber Tong, Manuel Baigorri, and Michelle F Davis reported, citing people familiar with the matter. The company has held discussions with investment banks as it evaluates a potential share sale that could raise a few hundred million dollars, the people said.Unilever (UL) is considering New York as a potential venue for a listing of its ice cream business, people with knowledge of the matter said, a move that might trigger a backlash in the unit’s home market of the Netherlands, Bloomberg’s Aaron Kirchfeld, Swetha Gopinath, and Dasha Afanasieva reported.The company and its advisers are evaluating a range of options including a listing in the US, which is the biggest market for its ice cream brands like Ben & Jerry’s and Breyers, the people said.More By This Author:What You Missed On FridayWall Street’s Top 10 Stock Calls This Week – Saturday, Feb. 1Trump Trade: President to place 25% tariff on Mexico, Canada imports
