‘Twas the week before Christmas and all through the Street – bankers hope to price 10 deals – dreaming of a bonus so sweet. With a nod to Clement Clarke Moore, IPO bankers are preparing to increase their deal count and dollar volume in the last full work week of the year – during the countdown to Christmas and Hanukkah next week.
Pricing Tuesday Night, Dec. 17 – To Trade Wednesday, Dec. 18:
Four IPOs are on the pricing roster for Tuesday night, Dec. 17:
*Leishen Energy Holding Co., Ltd. (LSE Proposed) – Dominari Securities and Revere Securities joint book-runners – 1.375 million shares at $4.00 to $5.00 to raise $6.19 million – NASDAQ – Market Cap: $75.9 million
Leishen Energy Holding Co., Ltd., is a Beijing-based holding company whose 12 operating subsidiaries in China provide oil and gas companies with clean-energy equipment and technical services, according to the prospectus. Compressor units, wellhead heating systems and oil-water separation systems are among Leishen’s products. Its services include equipment leasing, the design and customization of pressurization gas injection units, maintenance services and marketing LNG (liquefied natural gas). The company is profitable. (Incorporated in the Cayman Islands)
*New Century Logistics (BVI) Ltd. (NCEW Proposed) – Craft Capital and R.F. Lafferty & Co. joint book-runners – 1.25 million shares at $4.00 to $5.00 to raise $5.63 million – NASDAQ – Market Cap: $95.6 million
New Century Logistics (BVI) Ltd. is the Hong Kong-based holding company for a business that specializes in the logistics of air and ocean freight forwarding. The company began operating as a freight forwarder in 2004. New Century provides air and ocean export and import freight forwarding services ranging from the sale of cargo space to cargo pick-up, off-airport air cargo security screening, palletization and preparation of shipping documentation to the arrangement of customs clearance and cargo handling at ports. New Century offers routes to over 140 countries to its customers. The company is profitable. (Incorporated in the British Virgin Islands)
*Youxin Technology Ltd. (YAAS Proposed) – Aegis Capital sole book-runner – 2.3 million shares at $4.00 to raise $9.1 million – NASDAQ – Market Cap: $167.8 million
Youxin Technology Ltd., based in Guangzhou, China, is a SaaS and a PaaS provider committed to helping retail enterprises digitally transform their businesses by using its cloud-based Software as a Service product and its Platform as a Service platform to develop, use and control business applications without the need to buy complex IT infrastructure. Its customers include companies in the consumer goods, cosmetics and food and drink sectors. Youxin Technology says that its PaaS platform empowered it to develop highly customized CRM SaaS products for some leading brands such as Procter & Gamble (Guangzhou) Technology Innovation Co., Ltd. and Pu’er Lancang Ancient Tea Co., Ltd. The company is not profitable. (Incorporated in the Cayman Islands)
*YSX Tech Co., Ltd. (YSXT Proposed) – Kingswood Capital Partners sole book-runner – 1.25 million shares at $4.00 to $6.00 to raise $6.25 million – NASDAQ – Market Cap: $110.4 million
YSX Tech Co., Ltd., based in Guangzhou, China, is a holding company that provides – through the YSX Operating Companies – a suite of comprehensive business solutions to insurance companies and brokerages in China. The YSX Operating Companies specialize in auto insurance aftermarket value-added services, software development and information technology services, as well as customer development services and other customized services. For fiscal year 2023, the YSX Operating Companies served 52 clients, including 26 insurance companies and 10 insurance brokerages. Some of its customers are well-known names in China, including China Ping An Property Insurance Co., Ltd. and CPIC (China Pacific Insurance Group). The company is profitable. (Incorporated in the Cayman Islands)
Pricing Wednesday Night, Dec. 18 – To Trade Thursday, Dec. 19:
Three IPOs are scheduled for pricing on Wednesday night, Dec. 18:
*Cortigent (CRTG Proposed) – ThinkEquity sole book-runner – 1.5 million shares at $10.00 to raise $15.0 million – NYSE – American Exchange – Market Cap: $50.0 million
Cortigent Inc., based in Valencia, California, in northwestern LA County, is developing electrical neurostimulation systems to provide artificial vision – perceptions of light and shapes – the prospectus said. The FDA approved Argus II, its first commercial system, in March 2013. Cortigent has completed an early feasibility trial of Orion, a more advanced system for artificial vision. Argus II users undergo surgery to implant an electrode array inside the eye on the retina’s surface and affix a small electronics case (like a metal button) and an antenna to the eye’s outer surface. Orion users undergo cranial surgery to implant an electrode array on the visual cortex on the brain’s surface with a small electronics case and an antenna implanted on the outside of the skull, but completely covered by the scalp. The company is not profitable. (Incorporated in Delaware)
*Health in Tech (HIT Proposed) – American Trust Investment Services sole book-runner – 2.3 million shares at $4.00 to $5.00 to raise $10.35 million – NASDAQ – Market Cap: $243.3 million
Health in Tech, based in Stuart, Florida, is an insurance technology platform which offers a marketplace that aims to improve processes in the healthcare industry through vertical integration, process simplification and automation. Insurance companies can list various stop-loss policy options for self-funded benefits plans on our platform. Licensed brokers registered on our platform can log in, upload certain required information, select policy plans, obtain a bindable quote and sell them to small businesses, the prospectus said, adding: “Our technology enables us to medically underwrite insurance policies and usually produce bindable quotes within approximately two minutes, allowing us to deliver an integrated and seamless sales cycle.” The company is profitable. (Incorporated in Nevada)
*Range Capital Acquisition (RANGU Proposed) – EarlyBirdCapital sole book-runner – 10.0 million units at $10.00 each to raise $100.0 million – NASDAQ – Market Cap: $225.0 million – Each unit consists of one share of stock and one right to receive one-tenth (1/10th) of a share of stock upon the consummation of its initial business combination.
Range Capital Acquisition is a SPAC – also known as a blank-check company – based in Cold Spring Harbor, New York. Range Capital Acquisition intends to focus on acquisition or business combination targets in the American market with $500 million or more of enterprise value, low leverage, and owners interested in growth capital who are willing to roll over significant equity, the prospectus said. Tim Rotolo, the chairman, CEO and CFO of Range Capital Acquisition, is the CEO and founder of Range Fund Holdings, an investment platform for ETF asset managers. Range Capital Acquisition’s management “will look for sectors that are capital constrained, overlooked or out of favor,” including energy, nuclear energy, defense tech, specialty finance and women’s health, the prospectus said. (Incorporated in the Cayman Islands)
Pricing Thursday Night, Dec. 19 – To Trade Friday, Dec. 20:
One IPO is on the pricing roster for Thursday night, Dec. 19:
*Park Ha Biological Technology Co., Ltd. (PHH Proposed) – Dawson James Securities and D. Boral Capital (ex-EF Hutton) joint book-runners – 1.2 million shares at $4.00 to $6.00 to raise $6.0 million – NASDAQ – Market Cap: $131.0 million
Park Ha Biological Technology Co., Ltd., based in Wuxi, Jiangsu Province, in the People’s Republic of China, manufactures skincare products, including anti-aging products and exfoliation products. The company sells its skincare and beauty products in its two physical stores and through a network of franchisees throughout China. (Incorporated in the Cayman Islands)
Pricing the Week Before Christmas & Hanukkah:
Two IPOs – Fast Track Group (FTRK Proposed) and Zhengye Biotechnology Holding Limited (ZYBT Proposed) – are possibilities for pricing sometime during the week of Dec. 16, 2024, according to the Street. Both are NASDAQ listings.
Christmas, Hanukkah & New Year’s Mode
Next week – the week of Christmas and Hanukkah – many on Wall Street will switch their status to “out of the office” as they take time off to celebrate the holidays. Nevertheless, two small IPOs are tentatively set for pricing during this four-day work week. Please see the IPO Calendar for details.
The U.S. stock market will be closed on Wednesday, Dec. 25, 2024, for Christmas Day. Hanukkah will begin the same day – Wednesday, Dec. 25 – at sundown.
The following week – the short work week of New Year’s Eve and New Year’s Day – Wall Street will once again be lightly staffed – in holiday mode. Four micro-sized IPOs are tentatively set for pricing – either before or after New Year’s Day. Please see the IPO Calendar for details.
The U.S. stock market will be closed for the holiday on Wednesday, Jan. 1, 2025, for New Year’s Day. Wall Street will get back to work on Thursday, Jan. 2, 2025, although many will still be in “out of office” mode.
Stay tuned.
(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on the IPOScoop.com website.)
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.
To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.
Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.