The initial public offering (IPO) market ended the short trading week much quieter than expected, with just one small traditional offering pricing, while Ivanhoe Electric, the only major deal on the calendar, delayed its pricing to the week ahead. This week also plans to
In the week's only offering, Golden Sun Educations Group Ltd (NASDAQ: GSUN) priced its offering at the low end of its range to raise $17.6 million in its debut. The China-based company provides Spanish tutorial services in China, with several facilities located in the Yangtze River Delta. The stock popped over 300% on its first trading day, and finished the week up nearly 400%.
For the week ahead:
Holdover Ivanhoe Electric Inc. (NYSE: IE) plans to raise $174 million from 14.4 million shares offered between $11.75 to $12.50 each. The company, led by billionaire Robert Friedland, has multiple mining projects that are in the exploration stage in the United States. While those projects are not expected to generate revenue for the foreseeable future, the company garners revenues from its oil and gas data processing from and battery development.
bioAffinity Technologies, Inc. (NASDAQ: BIAF) plans to raise over $11.6 million from 1.5 million shares priced at $6.75 each. The company is addressing the need for noninvasive diagnosis of early-stage cancer and diseases of the lung, and targeted cancer treatment. Its first diagnostic test, CyPath Lung, addresses the need for early detection of lung cancer.
Onfolio Holdings, Inc. (NASDAQ: ONFO) plans to raise more than $10.75 million from 1.7 million shares priced between $4.50 to $5.50 each. The company acquires and manages a portfolio of small websites, operating in sectors including pets, arts and crafts, business-to-business SEO services, molecular hydrogen supplements, computers, graphic design, and people search. Onfolio booked $2 million in sales for the 12 months ended march 31, 2022.