Curative Biotechnology (CUBT)
Curative Biotechnology is joining the NYSE American index under the ticker symbol CUBT with an offering of 1,333,333 units of securities, with each Unit consisting of one share of common stock and one warrant to purchase one share of Common Stock of Curative Biotechnology, Inc., a Florida corporation, at a public offering price of $6.00 per Unit based on a reverse stock split ratio of 1-for-400. The Company estimates the price will be between $6 and $7 per share.
The Company is presently traded on the OTC Pink Marketplace operated by OTC Markets Group Inc., also under the symbol CUBT.
CUBT is scheduled to IPO on January 31, 2023, according to FactSet.
What Does Curative Biotechnology Do?
Curative Biotechnology Corp. is a life sciences company focused on developing, licensing, and acquiring assets in the therapeutic and medical device sectors. It has licensed four pre-clinical assets and is currently focusing on four indications, including rabies, glioblastoma, age-related macular degeneration and Covid-19 vaccinations in patients with kidney failure.
Who is Leading the CUBT IPO?
Aegis Capital is the sole underwriter on the CUBT IPO.
CUBT IPO Use of Proceeds
With the funds from this offering, the Company plans to repay debt, fund pre-clinical research and fund manufacturing in preparation for submitting applications to the FDA. If any of its applications are approved, the Company will use any remaining funds for manufacturing, clinical trials, and general corporate expenses.
Specifically, the Company intends to spend:
$1.8m on preparing its rabies treatment for human trials
$500k on a brain tumor treatment
With assistance from the National Eye Institute, $2m on preparing its dry AMD treatment for clinical trials.
$250k on getting patents filed and promoting its treatment for kidney failure patients during Covid-19.
Elephant Oil Corp (ELEP)
Elephant Oil Corp is scheduled to IPO on February 2, 2023, according to FactSet.
The Company is listing 1,827,957 units, each consisting of one share of common stock and one warrant to purchase one share of Common Stock.
The anticipated IPO price for each Unit is between $4.15 and $5.15, and the stock will be listed on the NASDAQ under the ticker ELEP.
What Does Elephant Oil Corp Do?
Elephant Oil Corp is an independent oil and gas exploration stage company led by an experienced management, and technical team focused on under-explored African regions.
Its current asset portfolio includes exploration prospects onshore in Benin and an exploration license onshore in Namibia. To date, it has not drilled any wells. Additionally, the Company continues to review other potential assets for expansion.
Who is Leading the ELEP IPO?
Spartan Capital Securities are underwriting the Company's IPO.
Use of ELEP IPO Proceeds
The Company plans to use the funds raised as follows:
Approximately $4.5m to mobilize a drilling rig to Benin, commence exploration and drilling activities, additional surveys on Block B, and pay license fees in Benin.
Approximately $0.3m for initial surveys and license fees in Namibia.
Approximately $0.2m for further expansion of portfolio or further exploration activity of existing assets.
Approximately $0.9m for repayment of debt.
Approximately $0.1m for working capital and selling, general and administrative purposes.
NeurAxis, Inc (NRXS)
NeurAxis plans to join the NASDAQ index under the ticker symbol NRXS, offering 1,875,000 shares of common stock at an estimated public offering price between $7 and $9 per share.
NRXS is scheduled to IPO on February 2, 2023, according to FactSet.
What Does NeurAxis Do?
NeurAxis, Inc. is a growth-stage company focused on developing neuromodulation therapies to address chronic and debilitating conditions in children.
The Company's first product, IB-Stim, is a PENFS system intended to be used in patients 11-18 years of age with functional abdominal pain associated with IBS. IB-Stim is a US FDA Class II medical device that has received one regulatory clearance: DEN180057, under the regulation name of "non-implanted nerve stimulator for functional abdominal pain relief."
Who is Leading the NRXS IPO?
Alexander Capital is the underwriter on the CUBT IPO.
NRXS IPO Use of Proceeds
The Company plans to use the funds raised as follows:
$5m for sales and marketing
$3m for R&D
$3.55m to repay debt
$1.19m Executive Officer contract payments
$0.55m for general corporate purposes
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