Image Source: www.gotcredit.com via FlickrShares of Boundless Bio fell almost 10% after raising about $100 million in the company’s initial public offering. Bayer (BAYRY) is one of the biggest investors for the therapeutics company.
Latest IPOs and Direct Listings
Boundless Bio (BOLD) opened on March 28 at $16. The company had priced 6.25 million shares at $16.00, at the midpoint of the $15.00-$17.00 target range. Boundless Bio is a clinical stage oncology company interrogating extrachromosomal DNA, or ecDNA, biology to deliver therapies to patients with previously intractable oncogene amplified cancers.U-BX Technology (UBXG) opened on March 28 at $5. The company had priced 2 million shares at $5.00 per share. U-BX Technology is an artificial intelligence-driven, value-added services and products provider to insurance carriers.Alta Global (MMA) opened on March 28 at $4.75. The company had priced 1.3 million shares at $5.00. The deal priced at the midpoint of target $4.00-$6.00 range.Alta Global describes itself as “a technology company that is enabling the global martial arts and combat sports industry to maximize the monetization opportunities available to the sector by increasing consumer participation in the sport and building upon existing community offerings within the sector.”
SPAC IPOs This Week
IB Acquisition (IBAC) opened on March 26 at $10.01. The blank check company intends to focus its initial search on target businesses in North America, Europe, or Asia, with an enterprise value of approximately $500 million. The proceeds of the offering will be used to fund such business combination.
End of the Week Performance
Upcoming IPOs
Upcoming IPO and direct listings expected include Origin Life Sciences, Chime Financial, and Rubrik.Rubrik, a cloud and data security startup backed by Microsoft (MSFT), appears to be on track for an initial public offering, Bloomberg’s Amy Or and Katie Roof reported last year, citing people familiar with the matter. The IPO could bring in $500-$700 million, the authors stated, noting that the timing and amount to be raised could be subject to change.Origin Life Sciences said it is offering 1.875 million shares of its common stock at an assumed price of $4.00 per share in an initial public offering. The company has applied to list its common stock for trading on NYSE American under the symbol “OLSI.”Origin Life Sciences is a clinical-stage biotechnology company that has been developing a high-energy plasma device that generates nitric oxide in the form of a plasma/NO stream and delivers it to targeted locations of the body. “The stream can potentially be used for various therapeutic purposes, including as an anti-infective, anti-inflammatory and tissue-regenerative therapy for chronic wounds and skin and soft tissue infections,” the company said in a regulatory filing.Chime Financial, a financial technology, or “fintech,” company that has been a closely watched IPO candidate for a few years, is planning to list in the U.S. next year, a person familiar with the matter told Bloomberg‘s Paige Smith. Chime has yet to engage banks on the expected initial public offering, the report added.More By This Author:Wall Street’s Top 10 Stock Calls This Week – Saturday, March 30Reddit Jumps Nearly 50% In Market DebutWall Street’s Top 10 Stock Calls This Week – Saturday, March 23
