It’s worth noting that several of these companies, namely Alopexx, Intensity Therapeutics, SONDORS and BullFrog AI Holdings, have previously been slated for IPO only for the week to pass by without their listing occurring. However, that doesn’t mean they won’t finally make the leap over the coming days.
That being said, here are some of the key IPOs slated for the week ahead:
Alopexx
This business intends to list 3 million shares of its common stock for an anticipated price of $5.00 a pop. The offering will see the company joining the NASDAQ under the ticker symbol “ALPX”.
Upon completion of this offering, Alopexx’s President and CEO, Daniel Vlock, will hold a majority of the voting power of the company’s capital stock through his ownership of 52%.
What is Alopexx?
Alopexx is a clinical stage biotechnology company developing novel immune therapeutics for the prevention, treatment and mitigation of bacterial, fungal, and parasitic infections that express the antigenic target poly N-acetyl glucosamine (PNAG).
The company says that, in a first-in-man trial, its vaccine candidate, AV0328, was shown to be well tolerated with no serious adverse events observed. It was noted to induce protective antibodies against all PNAG-expressing pathogens tested.
The company claims the vaccine’s broad-spectrum potential will allow it to be used for the long-term prevention of a wide range of infections including pneumococcal pneumonia, methicillin-resistant Staphylococcus aureus (MRSA), meningitis, and sexually transmitted diseases.
Alopexx has also developed a fully human monoclonal antibody, F598, that targets PNAG. The business says this has been shown to be well tolerated and no serious adverse events were noted in phase 1 and pilot phase 2 trials. Alopexx claims it could provide immediate protection lasting 2-3 months.
Who is Leading the ALPX IPO?
The IPO is being helmed by ThinkEquity.
ALPX IPO Use of Proceeds
Alopexx says it currently intends to use the net proceeds as follows:
$5.5m to initiate a proof-of-concept trial of vaccine AV0328, including manufacturing, and correlative laboratory studies.
$4.5m to initiate a proof-of-concept trial of our monoclonal antibody in ICU patients.
The remainder for general corporate purposes, including working capital, operating expenses and capital expenditures, as well as potential expansion of our research pipeline.
The NFT Gaming Company
This business is listing 1,686,747 shares of common stock as it joins the NASDAQ index under the ticker symbol “NFTG”. The initial public offering price is expected to be $4.15 per share.
What is The NFT Gaming Company?
This business is developing a digital gaming platform that will offer its proprietary games as well as games developed and published by third parties.
The company says its vision is to develop, design, acquire, and manage conventional digital games and to combine them with novel methods, such as the ability to create and mint unique in-game features, such as skins, characters, weapons, gear, in the form of non-fungible tokens (NFTs).
The business plans to initially launch games which are simple and fun to play, and that offer gamers the ability to mint their own affordable NFTs within the platform.
Who is Leading the NFTG IPO?
The business’ sole book-running manager for the IPO is Laidlaw & Company (UK) Ltd.
NFTG IPO Use of Proceeds
Without going into specific figures, the company says it will allocate the net proceeds to product development, marketing, working capital and general corporate purposes. It also stated that it could use a portion of the proceeds for acquisitions of complementary businesses, technologies, or other assets.
The business also stated that it believed the net proceeds from this offering, along with its existing cash, cash equivalents, and investments, will be sufficient to fund its current operations for at least twelve to eighteen months.
Interactive Strength (Forme)
This business is listing 2 million shares of common stock at an anticipated price per share of between $6.00 and $8.00. The IPO will see the company join the NASDAQ under the ticker symbol “TRNR”.
What is Interactive Strength?
This business, which also operates under the name Forme, operates a digital fitness platform that combines premium connected fitness hardware products with personal training and coaching to deliver an immersive experience aimed at producing better outcomes for both consumers and trainers.
The company’s offering can be accessed at home through video-on-demand or in live 1-to-1 formats. Further health coaching services are accessible via download or streaming through its connected fitness hardware products and via streaming through the Forme Studio app, available through iOS mobile devices and most iOS tablets and computers.
Who is Leading the TRNR IPO?
Aegis Capital Corp is heading the IPO for Interactive Strength.
TRNR IPO Use of Proceeds
In its most recent prospectus, the business was unable to specify the particular uses for the net proceeds.
However, the business has stated it currently intends to use the net proceeds from this offering primarily for general corporate purposes, including working capital, sales and marketing activities, technology development, general and administrative matters, and capital expenditures.
Additionally, Interactive Strength stated it could use a portion of the net proceeds to acquire complementary businesses, products, services, or technologies.
Intensity Therapeutics
This business is offering 1,777,778 shares of its common stock as it seeks to join the NASDAQ under the ticker symbol “INTS”. The anticipated price of these shares is $4.50 each.
What is Intensity Therapeutics?
Intensity Therapeutics is a clinical stage biotechnology company working on using localized cancer reduction to stimulate anti-cancer immune activation. The business’ current approach involves the direct injection into tumors of a unique product created from its DfuseRx℠ discovery platform.
The company uses this platform to create patented anti-cancer product candidates comprising active anti-cancer agents and amphiphilic molecules.
Intensity Therapeutics’ lead product candidate, INT230-6, is in the midst of a Phase 1 and 2 dose escalation study in patients with refractory or metastatic cancers. The same candidate is also undergoing a phase 2 study in Canada as a pre-surgery treatment for breast cancer.
Who is Leading the INTS IPO?
The book-running manager of Intensity Therapeutics’ IPO is The Benchmark Company.
INTS IPO Use of Proceeds
The company says it intends to use the net proceeds from this offering for the following purposes:
5% toward initiating/conducting a Phase 3 sarcoma study.
10% toward initiating/conducting a Phase 2/3 early-stage breast cancer studies.
40% toward current clinical trials and related operations.
5% toward development of a second product candidate, INT33X.
40% toward general corporate purposes and working capital.
SONDORS
This company is selling 4 million shares of common stock with an estimated price of between $4.00 and $6.00 each. It will join the NASDAQ under the ticker symbol “SODR”.
Following the offering, the business’ CEO and Secretary, Storm Sondors, will own approximately 76.0% of its common stock.
What is SONDORS?
The business is a California-based electric mobility business which designs, manufactures and delivers electric bicycles and motorbikes. The business states that its efforts developing, manufacturing and selling one of the first e-bikes at scale both domestically and internationally has seen it deliver over 63,000 units in 72 countries since 2015.
Additionally, the company offers an e-motorcycle. The MetaCycle represents the company’s newest product category. It aims to combine the weight and agility of a motorized scooter, the styling of a motorcycle, the ease of learning and use of an e-bike and the price point of a motorized scooter.
SONDORS says the e-motorcycle’s price point is significantly more affordable than other leading models such as Harley-Davidson’s LiveWire ONE and Energica’s Eva Ribelle. The business adds that it currently has pre-orders for over 10,000 units of the MetaCycle.
Looking ahead, the business is currently designing an electric all-terrain vehicle (ATV), an electric dirt bike, a larger version of the MetaCycle, MetaCycle-stylized e-bikes and other e-mobility products.
Who is Leading the SODR IPO?
The listing is being helmed by sole book-running manager AGP.
SODR IPO Use of Proceeds
The business has stated that it intends to use up to $5.9m of the net proceeds of this offering for the repayment of the portion of its senior secured notes that are not converted into shares of common stock at the closing of this offering.
The remaining $11.6m of the net proceeds from this offering has been earmarked for new product research and development, existing product development and commercialization, the development of international markets and to fund our growth and to fund other general corporate purposes.
BullFrog AI Holdings
This business is seeking to join the NASDAQ through an initial public offering of 1,317,647 units. Each of these units will be comprised of one share of common stock, one tradeable warrant and one non-tradeable warrant.
The tradeable warrant allows for the purchase one share of common stock at an anticipated exercise price of $7.80 per share. Meanwhile, the non-tradeable warrant allows for the purchase one share of the company’s common stock at an exercise price of $8.125.
The anticipated price of each unit is $6.50 each.
The common stock will be listed under the ticker symbol “BFRG”, while the tradeable warrants will be listed under the ticker symbol “BFRGW”.
What is BullFrog AI Holdings?
BullFrog AI is a company that uses artificial intelligence and machine learning to advance the development of medicines for internal and external projects. The company's approach is driven by the high failure rate and costs associated with developing new therapeutics. As a result, BullFrog's mission is to increase the probability of success and decrease the time and cost involved in creating these treatments.
The company's platform technology, bfLEAP, is an AI and machine learning platform that addresses scalability and flexibility challenges in data analysis. This allows researchers and clinicians to gain a more precise, multi-dimensional understanding of their data.
BullFrog is using bfLEAP at various stages of development for its internal programs and through partnerships and collaborations to streamline data analysis in therapeutics development and reduce costs. The ultimate aim is to improve patients' lives who may not have access to the treatments they need.
Who is Leading the BFRG IPO?
The listing is being headed by Wallachbeth Capital LLC and Kingswood Capital Markets.
BFRG IPO Use of Proceeds
The company says it intends to use the net proceeds in the following ways:
$2.0m on expenditures related to its licensed programs and collaborations.
Approximately 10% for repayment of debt incurred related to the engagement of consultants and employees directed at developing the operations and supporting our public listing as well as other trade liabilities.
The remainder for working capital and other general corporate purposes.
