The post-Labor Day holiday initial public offering market was notably quiet last week, with only one small offering pricing. However, the week ahead is expected to be more active, with four expected offering set to raise a total of $2.4 billion in their collective debuts. That large total is due to the largest anticipated deal so far in 2022 from Corebridge Financial at over $2 billion.
Here is last week's recap:
Yoshiharu Global Co. (NASDAQ: YOSH) raised $12 million after pricing its shares at the low end. The company operates eight ramen-focused Japanese restaurants in California, and plans to double its operation by the end of the year. The stock ended the week up 4%.
Offerings to watch in the week ahead:
Corebridge Financial, Inc. (NYSE: CRBE) plans to raise $2.2 billion from 80 million shares priced between $21 to $24 each. The company is one of the largest providers of retirement and insurance products in the United States, with its core business including individual retirement, group retirement, institutional markets, and life insurance.
Third Harmonic Bio, Inc. (NASDAQ: THRD) plans to raise $186 million from 9 million shares priced between $16 to $18 each. The biotech is focused on treating allergic and inflammatory diseases, and is developing an oral therapy which it believes can treat multiple indications, including urticaria and asthma.
Lichen China, Ltd. (NASDAQ: LICN) plans to raise $28 million from 6.25 million shares priced at $4 each. The China-based financial and taxation service provider's offerings include education support services, taxation solutions, and software and maintenance services.
Jupiter Neurosciences, Inc. (NASDAQ: JUNS) plans to raise $17.5 million from 2.5 million shares priced between $5 to $7 each. The clinical-stage pharmaceutical company is developing a resveratrol platform that primarily targets the treatment of neuro-inflammation.