The initial public offering (IPO) market was exciting last week, with Corebridge Financial launching the biggest offering of 2022 so far, raising $1.7 billion. Four other companies joined Corebridge last week, and the week ahead plans to be equally as active.
In the largest IPO so far this year, Corebridge Financial, Inc. (NYSE: CRBG) priced its shares at the low end to raise $1.7 billion. The retirement and life insurance company is one of the ten largest life and annuity companies in the United States. The stock ended the week down 1%.
Third Harmonic Bio, Inc. (NASDAQ: THRD) priced its upsized offering at the midpoint to raise $185 million. The biotech is developing an oral therapy for allergic and inflammatory diseases, with its lead candidate, THB001, currently completing a Phase 1a clinical trial. The stock finished the week up 6%.
LINKBANCORP, Inc. (NASDAQ: LNKB) raised $34 million from its uplisting from the OTC. The community bank's consolidated assets, net loans, deposits and shareholders' equity totaled $1.1 billion, $786.5 million, $902.4 million and $104.8 million, respectively, as of June 30, 2022. The stock ended the week flat.
Wearable Devices Ltd. (NASDAQ: WLDS) raised $16 million in its debut. The company is developing neural input technology for consumer electronics. The stock finished down 41%.
Nexalin Technology, Inc. (NASDAQ: NXL) raised $10 million in its debut. The company designs and develops innovative neurostimulation products for the treatment of mental health issues including anxiety and insomnia. The stock ended the week flat.
Here's listings to look out for in the week ahead:
Jupiter Neurosciences, Inc. (NASDAQ: JUNS) plans to raise $17.5 million from 2.5 million shares priced between $5 to $7 each. The neuro-inflammation focused biotech's sole candidate, JOTROL, is being developed for various neuro and rare disease indications.
Alopexx, Inc. (NASDAQ: ALPX) plans to raise $17.25 million from 3 million shares priced at $5 each. The infectious disease focused biotech is developing novel immune therapeutics for the preventions, treatment and mitigations of bacterial, fungal, and parasitic inflations that express the antigenic target poly N-acetylglucosamine (PNAG).
Laser Photonics Corp. (NASDAQ: LASE) plans to raise $15 million from 3 million shares priced at $5 each. The company manufactures photonics-based industrial products and solution, primarily disruptive to laser cleaning technologies.
Loop Media, Inc. (NYSE: LPTV) plans to raise $12 million from 2.4 million shares priced between $4.50 to $5.50 each. The company provides media streaming boxes to bars, hotels, and stores, through which it generates advertising revenues.