February's initial public offering (IPO) remained slow last week, with three micro-cap listing raising a total of $63 million in their debut. The week ahead plans to be just as quiet, with just two previous micro-cap delays planning to list.
Here's last week's debuts in order of offering amount:
Arena Group Holdings Inc. (NYSE: AREN) raised $30 million in its debut. Previously listed on the OTC as theMaven (MVEN), the company uplisted onto the New York Stock Exchange and began trading on Wednesday. Arena Group is a media holding company operating brands including Sports Illustrated and TheStreet. The stock ended the week flat.
Sky Technologies Corp. (NASDAQ: SKYX) raised $23 million after pricing its upsized offering above its range. The company offers products mainly used for light fixtures and ceiling fans. Despite pricing up, the stock ended the week down over 24%.
HeartCore Enterprises, Inc. (NASDAQ: HTCR) raised $15 million after pricing shares at the midpoint of its downsized range. The Japanese firm provides software through two business units: customer experiences management and digital transformation. The company finished the week down 17%.
Here's the companies slated to price in the week ahead:
Cariloha, Inc. (NASDAQ: ALOHA) plans to raise about $25 million from 2 million shares priced between $9 to $11 each. Cariloha is an omni-channel brands focused on soft and sustainable bedding, clothing and bath goods made of eco-friendly viscose-from-bamboo. The company offers product mainly through its e-commerce channel as has relationships with cruise lines.
Ocean Biomedical (NASDAQ: OCEA) plans to raise $22 million from offering 2 million shares priced between $10 to $12 each. The preclinical biotech's is pursuing programs in oncology, fibrosis, infectious disease and inflammation, and seeks to bridge the "bench-to-bedside" gap by leveraging its strong relations with research universities to licence and develop technology to treat various disease. It's pipeline includes various humanized mABs for non-small cell lung cancer and glioblastoma multiforme, a small molecule for the treatment of Idiopathic Pulmonary Fibrosis, a malaria vaccine, and two malaria therapeutics.