February's initial public offering (IPO) market continues to welcome only small issuers with only two healthcare micro-caps raising a total of just $46 million last week. The shortened-holiday week ahead is slated to be even quieter, with only one cannabis pure-play set to debut.
Here's last week's debuts in order of offering amount:
Meihua International Medical Technologies Co, Ltd. (NASDAQ: MHUA) priced its downsided offering at the midpoint to raise $36 million; the stock is the first listing from a Chinese issuer in the United States in months. Meihua provides disposable medical devices to hospitals, pharmacies, medical institutions, and medical equipment companies mostly based in China. The stock ended the week down 18%.
Blue Water Vaccines, Inc. (NASDAQ: BMV) priced shares at its midpoint to raise just about $20 million. This infectious disease biotech is focused on the research and development of transformational vaccines. The company's lead candidate, BMV-101, is being developed as a transformational novel universal influenza vaccine. The stock finished the week up 538% in its blockbuster debut.
For the week ahead:
Akanda Corp. (NASDAQ: AKAN) plans to raise $16 million from 4 million shares priced at $4 each. This British-based company plans to supply medicinal-grade cannabis biomass, cannabis flower, and cannabis concentrates to international wholesalers.
Despite February's slow IPO market, a number of issuers are eligible to debut, according to ReniannceCapital. These potential launches include pharmaceutical Bausch Health Companies, Inc. (NYSE: BHC) spin-offs Solta Medical International Inc. and Bausch + Lomb, ad-tech firm Aleph Group, Inc., India-based IT services firm Coforge, Ltd., RIA services platform Dynasty Financial Partners, Inc., thrift store chain Savers Value Village, Inc., and mattress retailer Mattress Firm, Inc.