IPO Outlook: MGRX, YGF, GDHG

Here are some of the IPOs slated for the week ahead:

Mangoceuticals

This business is joining the NASDAQ under the ticker symbol ‘MGRX’ with an initial price of $4 per share. The IPO will consist of 1.25 million shares of common stock.

What Does Mangoceuticals Do?

This business is dedicated to connecting consumers to licensed healthcare professionals through its recently launched website at www.MangoRX.com. It also offers the provision of care via telehealth on its customer portal and plans to provide access for customers to a licensed pharmacy for online fulfillment and distribution of certain medications.

The business is particularly focused on men’s wellness telemedicine services and products, having identified it as a growing sector in recent years, especially related to the areas of erectile dysfunction products.

As such, the company has developed and is currently in the process of preparing to commercially market a new brand of erectile dysfunction product under the brand name “Mango”.

Who is Leading the MGRX IPO?

Boustead Securities LLC is leading the company’s listing.

Use of MGRX IPO Proceeds

Mangoceuticals says it currently intends to use the net proceeds for general corporate purposes.

A breakdown detailed by the company states 31% will go towards working capital, 41% will be used to finance the marketing and operational expenses associated with its Mango erectile dysfunction product, 21% will go towards hiring additional personnel and a final 7% is for capital expenditures for software development and maintenance.

In addition, Mangoceuticals says it may use a portion of the net proceeds to finance future acquisitions or invest in complementary businesses, though it does not have any agreements or commitments with respect to any such acquisitions or investments at this time.

YanGuFang International Group

YanGuFang International Group (NASDAQ: YGF) is listing 2.5 million shares, with an expected listing price of between $4 and $6.

What Does YanGuFang International Do?

YanGuFang Group is a holding company incorporated as an exempted company on May 28, 2020 under the laws of the Cayman Islands. As a holding company with no material operations of its own, it uses a VIE structure and conducts all its operations through its PRC subsidiary and the VIEs based in China.

The business is primarily engaged in the production, research and development, and sales of oat and grain products through its own sales team and distribution network.

The business says its mission is to build a new type of healthy food company with core values of safety, health, nutrition and sustainability.

Who is Leading the YGF IPO?

YanGuFan’s IPO is being led by EF Hutton, a division of Benchmark Investments LLC.

Use of YGF IPO Proceeds

The company plans to use the net proceeds from this offering as follows:

Around 30% for the construction of additional production facilities, purchase of new equipment and upgrades of existing equipment.
10% for the R&D of new products and technologies, upgrades of existing products and technologies, and new hires of R&D staff.
12% for global business expansion, primarily to North America, Southeast Asia and Japan.
20% for marketing and brand promotion.
28% for working capital and other general corporate purposes.

Golden Heaven Group Holdings

This business is listing 2 million ordinary shares with an expected price range of $4 to $5 each. The business is joining the NASDAQ index under the ticker symbol ‘GDHG’.

What Does Golden Heaven Group Do?

Through Chinese operating entities, Golden Heaven manages and operates six properties consisting of amusement parks, water parks and complementary recreational facilities.

Its parks occupy approximately 426,560 square meters and are easily accessible to an aggregate population of approximately 21 million people. Their offering includes both thrilling and family-friendly rides, water attractions, gourmet festivals, circus performances, and high-tech facilities.

As of the date of this prospectus, the parks collectively contain 139 rides and attractions.

Who is Leading the GDHG IPO?

The offering is being led by Revere Securities and R.F Lafferty & Co.

Use of GDHG IPO Proceeds

Golden Heaven says it plans to use the net proceeds of this offering as follows:

40% for expanding market share by constructing new amusement parks, as well as acquiring or investing in businesses engaged in amusement park development.
20% for upgrading existing amusement parks, software and systems.
10% for improving internal control.
10% for increasing brand recognition through marketing and promotional activities.
10% for working capital purposes.
5% for increasing employees’ compensation and benefit packages, as well as investment in job training.
The final 5% is earmarked for emergency funds to be used when needed.