Key upcoming IPOs in focus include:
SONDORS
This business intends to list 2.5 million shares as it joins the NASDAQ index, with an expected price of between $8 and $10 per share. The company is joining the index under the ticker symbol “SODR”.
What is SONDORS?
This California-based company designs and manufactures electric bicycles, or e-bikes, and electric motorbikes. When it comes to e-bikes, SONDORS says it has delivered over 51,000 units in 72 countries since 2015.
In order to make this possible, the company says it has sought to make e-bikes more accessible to customers through pricing and ease of access. Its Smart Step entry level model is sold by Costco and other models are sold direct-to-customer by SONDORS. The e-bikes are customizable, with purchasers able to alter suspension, tires and more.
Then there is SONDORS’ newest product category: e-motorcycles. The MetaCycle is the company’s lone product in this category at the moment. SONDORS says it is optimistic that the model’s ease of operation, combined with its advanced styling features and all-electric nature, will expand the potential addressable market for riders who have never considered motorcycle ownership previously.
Additionally, it says the MetaCycle’s price point is significantly more affordable than other leading e-motorcycle models, such as Harley-Davidson’s LiveWire ONE and Energica’s Eva Ribelle. The business has received pre-orders for approximately 11,000 units of the MetaCycle.
In addition to these products, 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 products besides. These planned product offerings are being designed with a focus on developing an industry-leading style, exceptional performance and affordability.
Who is Leading the SODR IPO?
The company’s sole book-running manager for this listing is Lake Street.
SODR IPO Use of Proceeds
The business says it intends to use the proceeds for the repayment of the portion of its senior secured notes (including interest thereon) that are not converted into shares of common stock at the closing of this offering.
The remaining proceeds will be used for new product research and development, existing product development and commercialization, the development of international markets, and to fund growth or other general corporate purposes.
ParaZero Technologies
This business is expected to join the NASDAQ index under the ticker symbol “PRZO.” The business’ much-delayed listing is expected to see it offer 1.6 million shares for an anticipated price of between $4.25 to $6.25.
What is ParaZero Technologies?
This business is an aerospace company with a focus on drone safety systems. The company is currently engaged in the business of designing, developing, and providing what it believes are best-in-class autonomous parachute safety systems for commercial drones, also known as unmanned aerial systems or UAS.
The company was founded by a group of aviation professionals, together with veteran drone operators, to address the drone industry’s safety challenges. ParaZero’s goal is to enable the drone industry to realize its potential by increasing safety and mitigating operational risk.
ParaZero says its solutions have proven critical to enabling commercial drone operations over populated areas and beyond-visual-line-of-sight. These require prior approval from aviation regulators, but this has been successfully sought in the US, Canada, Israel, Brazil, Singapore, Australia, Ireland and the UK, among other countries.
The business says it has a global distribution footprint and partnerships in India, South Korea, the US, Latin America and Europe. Additionally, its technology has been sold to or used by companies such as LIFT Aircraft, Airobotics, SpeedBird Aero and Doosan Corporation, as well as brands and entities such as CNN, the New York Times, Hensel Phelps, Verizon Media and Fox Television Station.
Who is Leading the PRZO IPO?
The listing is being led by the sole book-running manager Aegis Capital Corp.
PRZO IPO Use of Proceeds
The company says it expects to use the proceeds for the following purposes:
Approximately $3m for research and development of new technologies as well as existing products.
$2m for marketing and sales efforts in new territories.
Around $250,000 to discharge indebtedness to Medigus Ltd. under a loan agreement which the business entered into on August 4, 2022, and used for the operation of its business activities, including preparation for this offering.
The remainder is for working capital and general corporate purposes, and possible future acquisitions.
BullFrog AI Holdings
The company is listing 1,317,647 units, each of which consists of one common stock and one warrant to purchase a share of common stock at an as-yet-unknown exercise price before the warrant expires five years from issuance.
The anticipated IPO price for each unit is $6.375, and the stock will be listed on the NASDAQ under the ticker BFRG.
What Does BullFrog AI Do?
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 developing these treatments.
The company's platform technology, called bfLEAP, is an AI and machine learning platform that addresses the challenges of scalability and flexibility 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 with the goal of streamlining data analysis in therapeutics development and reducing costs. The ultimate aim is to improve the lives of patients who may not have access to the treatments they need.
Who is Leading the BFRG IPO?
The company's IPO is being headed by Viewtrade Securities and Wallachbeth Capital.
Use of BFRG IPO Proceeds
BullFrog says it intends to use the net proceeds for investing in research and development (25%), the repayment of debt (10%) and the remainder for working capital and general corporate purposes.
