The initial public offering (IPO) market had one of its biggest weeks in over a year last week as four offerings raised over $100 million. The week ahead plans to remain similarly active, but with much smaller offerings.
Here's last week's recap:
In the year's largest offering so far, NEXTracker, Inc. (NXT ) raised over $638 million after pricing shares above the range in its upsized offering. The company's integrated solar tracker and software solutions enable solar panels to follow the sun's movements across the sky to optimize performance. The stock ended the week up 29%.
Enlight Renewable Energy Ltd. (ENLT ) praised $252 million after pricing shares below its range. The Israel-based company's utility-scale renewable energy projects include some of the largest onshore wind and solar project across the United States, Western, Central and Eastern Europe, and Israel. The company finished the week down 1%.
Mineralys Therapeutics, Inc. (MLYS ) raised $192 million after pricing its upsized offering at the high end of its range. The cardiorenal disease focused biotech's sole candidate is initially being developed for uncontrolled hypertension. Mineralys plans to initiate a Phase 2 trial in the first half of 2023 for uncontrolled hypertension and resistant hypertension, followed by a Phase 3 trial in the second half of the year. The stock finished up 15%.
Hesai Group (HSAI ) raised $190 million after pricing its upsized offering to the high end of its range. The Chinese LiDAR developer is a leading provider of three-dimensional LiDAR products for ADAs, autonomous mobility, and last-mile delivery robots. The stock ended up 17%.
Lichen China Ltd. (LICN ) raised 16 million in its debut. The Chinese financial and taxation service provider ended the week up 2%.
In the week's smallest offering, Lucy Scientific Discovery, Inc. (LSDI ) raised $7.5 billion in its downsized offering. The Canadian psychotropics maker finished the week down 29%.
Here's what to look out for in the week ahead:
SONDORS, Inc. (SODR ) plans to raise $27 million from 4 million shares priced between $4 to $6 each. The company make premium electric bikes and offers its entry level model to Costco (COST ) customers through a partnership.
Interactive Strength, Inc. (TRNR ) plans to raise $18 million from 2 million shares priced between $6 to $8 each. The fitness equipment brand sells home fitness equipment and offers personal training classes under the brand Forme.
Alopexx, Inc. (ALPX ) plans to raise $17 million by pricing 3 million shares at $5 each. the biotech is developing novel immune therapeutics for the prevention, treatment and mitigation of bacterial, fungal, and parasitic infections. Alopexx's first vaccine candidate has been shown to be well tolerated with no serious adverse events.
Intensity Therapeutics, Inc. (INTS ) plans to raise about $10 million from over 1.7 million shares priced at $4.50 each. The biotech's lead candidate is currently in two Phase 2 trials, one for late-stage diseases and another for early-stage breast cancer. It is expected to enter Phase 3 trials in last 2023 or early 2024.