The initial public offering (IPO) market keep with its recent trend of only small deal debuts last week, with six companies raising about $95 million all together. The week ahead plans to be a tad slower, with only three small deals slated to list as August comes to a close.
Here's last week's recap:
Jianzhi Education Technology Group Co Ltd. (NASDAQ: JZ) priced its shares at the low end to raise $25 million. The Chinese company provides digital educational content for higher education institutions and libraries, with its content library containing more than 30,000 online videos and courses as of 12/31/21. Popping over 3,000% in its first day, the stock ended the week up 275%.
Starbox Group Holdings Ltd. (NASDAQ: STBX) priced shares at the low end to raise $20 million. The company is creating a fintech ecosystem targeting micro, small and medium enterprises in Malaysia. Soaring 285% on its first day, the stock finished up 33%.
Jeffs' Brands Ltd. (NASDAQ: JFBR) priced shares below its range to raise $15 million. The e-commerce company operates primarily on Amazon's (NASDAQ: AMZN) platform and serves consumers in U.S. and E.U. markets. The stock finished down 9%.
Onfolio Holdings, Inc. (NASDAQ: ONFO) priced shares above its range to raise $14 million. The company acquires and manages a portfolio of websites, currently holding websites operating in markets including pets, arts and crafts, B2B SEO services, molecular hydrogen supplements, computers, graphic design, and people search. The stock finished down 25%
Mobilicom Ltd. (NASDAQ: MOB) priced below its range to raise $12 million. The Israeli-based company designs, develops, and manufacturers hardware, software, and cybersecurity products for drones and robotics.
PaxMedica, Inc. (NASDAQ: PXMD) priced shares around its midpoint to raise $8 million. The neurodevelopment-focused biotech's lead candidate, PAX-101, produced positive topline data from its Phase 2 trial for the treatment of autism spectrum disorder, the company announced in February 2021. The stock ended the week down 6%.
Listing to look out for in the week ahead:
Hempacco Co. Inc. (NASDAQ: HPCO) plans to raise $6 million from 1 million shares priced at $6 each. The company manufactures hemp cigarettes, with its products being sold in over 200 retail locations in San Diego.
Holdovers tech company Wearable Devices Ltd. (NASDAQ: WLDS) and lung diagnostics developer bioAffinity Technologies, Inc. (NASDAQ: BIAF) may also price in the week ahead.