IPO Outlook: MBLY, ASPI, INTS

By Duncan Ferris

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The coming week's IPOs could include offerings from Mobileye Global (NASDAQ: MBLY), ASP Isotopes (NASDAQ: ASPI) and Intensity Therapeutics (NASDAQ: INTS)

Here are the IPOs expected to take place this week:

Mobileye Global (NASDAQ: MBLY)

This business is offering 41 million shares, with an expected initial public offering price of between $18.00 and $20.00 per share.

What Does Mobileye Global Do?

Jerusalem-based business Mobileye aims to lead the mobility revolution with its autonomous-driving and driver-assist technologies by using computer vision, machine learning, mapping, and data analysis.

The company’s technology enables self-driving vehicles and mobility solutions, powers industry-leading advanced driver-assistance systems, and delivers valuable intelligence to optimize mobility infrastructure.

Mobileye says it has pioneered technologies as True Redundancy sensing, REM crowdsourced mapping, and Responsibility Sensitive Safety (RSS) technologies that are driving the advanced driver assistance systems (ADAS) and automated vehicle (AV) fields towards the future of mobility.

The company was founded in 1999 by Amnon Shashua, a professor of computer science at the Hebrew University in Jerusalem. He now also serves as senior vice president at Intel Corporation after the tech giant acquired Mobileye for around $15.3bn in 2017.

The company says that more than 40 million cars have its technology installed, adding that its products had been selected for implementation in serial production of 313 car models from 27 OEM partners by 2017.

At present, the company’s goal seems to be establishing and growing a robotaxi business of automated vehicles for ride hailing. Then, using the lessons from this venture, the company is seeking to create a consumer AV.

Who is Leading the MBLY IPO?

The offering is being led by Goldman Sachs & Co and Morgan Stanley.

Use of MBLY IPO Proceeds

The company says it intends to use the net proceeds for working capital and general corporate purposes to the extent that it has $1.0bn in cash, cash equivalents or marketable securities immediately after the completion of this offering.

Mobileye Global says it will use the remainder to repay a portion of the indebtedness owed to Intel under the Dividend Note.

Check out our previous write-up on the Mobileye IPO.

ASP Isotopes (NASDAQ: ASPI)

This business is joining the NASDAQ with 2 million shares of common stock, which the company expects will have an initial share price of between $5 and $7 each.

What Does ASP Isotopes Do?

ASP is a pre-commercial stage advanced materials company dedicated to the development of technology and processes that, if successful, will allow for the production of isotopes that may be used in several industries.

The company’s initial focus is on the production and commercialization of enriched Molybdenum-100 (Mo-100).

Klydon Proprietary Ltd, which originally developed and exclusively licensed the technology used by ASP, has agreed to provide the business with a first commercial-scale Mo-100 enrichment plant located in South Africa with a manufacturing capacity of 20 kg/year of 95% enriched Mo-100 when fully operational.

ASP says it believes that the Mo-100 it may develop has significant potential advantages for use in the preparation of nuclear imaging agents by radiopharmacies and others in the medical industry.

Who is Leading the ASPI IPO?

Revere Securities LLC will act as book running manager for ASP Isotopes’ IPO.

Use of ASPI IPO Proceeds

ASP Isotopes says that the principal purpose of this offering is to increase its capitalization and financial flexibility, create a public market for its common stock and enable access to the public equity markets for the business and its stockholders.

Beyond this, the business intends to use a portion of the net proceeds to expand production to up to 20 kg/year of 95% enriched Mo-100.

The remainder of the net proceeds will be used for research and development for potential additional isotopes that the business may seek to offer in the future, as well as headcount costs, working capital and other general corporate purposes.

Intensity Therapeutics (NASDAQ: INTS)

Intensity Therapeutics is offering 2,222,223 shares of its common stock, with an expected price per share of between $4 and $5. Additionally, the offering’s underwriters have an option to purchase up to 333,333 additional shares of common stock at the initial public offering price less the underwriting discounts and commissions.

What Does Intensity Therapeutics Do?

Intensity Therapeutics is a clinical stage biotechnology company committed to the field of localized cancer reduction leading to anti-cancer immune activation. The company’s approach involves the direct injection into tumors of a unique product created from its DfuseRx℠ discovery platform.

The company’s lead product candidate, INT230-6, consists of two proven anti-cancer cytotoxic agents, cisplatin and vinblastine sulfate, mixed with the amphiphilic molecule (SHAO), all in a single vial.

Want to find out more about Biopharma stocks? Click Here to find out if they could boost your portfolio!

Who is Leading the INTS IPO?

The listing’s joint book running managers are Roth Capital Partners and The Benchmark Company.

Use of INTS IPO Proceeds

The company says it intends to use the net proceeds from this offering for the following purposes: 

  • Around 25% toward initiating/conducting a Phase 3 sarcoma and/or Phase 2/3 early-stage breast cancer studies (IT-03 and IT-04).

  • Approximately 35% toward current clinical trials and related operations.

  • Roughly 5% toward the development of the company’s second product candidate, INT33X.

  • Approximately 35% toward general corporate purposes and working capital.

Want more from Value the Markets? Check out our Daily Stock Watch and Earnings Preview analysis!

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In this article:

Topics:
IPO
Biotechnology
Industries:
Healthcare

Author: Duncan Ferris

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Duncan Ferris does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the above article.

Duncan Ferris has not been paid to produce this piece by the company or companies mentioned above.

Digitonic Ltd, the owner of ValueTheMarkets.com, does not hold a position or positions in the stock(s) and/or financial instrument(s) mentioned in the above article.

Digitonic Ltd, the owner of ValueTheMarkets.com, has not been paid for the production of this piece by the company or companies mentioned above.

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