The summer initial public offering (IPO) market has come to a close following the long Labor Day weekend. Last week, four small companies raised about $50 million in total, while the shortened week ahead plans to only add two listings.
In IPO news, Chobani announced it was withdrawing its plans for an initial public offering, according to a regulatory filing on Friday. The food and beverage company filed in November to go public on the Nasdaq Exchange using the ticker "CHO", and was expected to be a large IPO later this year.
In an email statement to CNBC, Chobani cited current market conditions for the withdrawal. "Our focus remains on strong execution and driving profitable growth, and we continue to be excited about the future of Chobani," the company said in the statement.
Here's last week's listing recap:
Addentax Group Corp. (NASDAQ: ATXG) raised $25 million in its debut. The Chinese garment company soared more than 13,000% in the largest first-day pop on record, according to Renaissance Capital. Ultimately, the stock ended the week up 92%.
Shuttle Pharmaceuticals Holdings, Inc. (NASDAQ: SHPH) raised $10 million last week. Shuttle is a discovery and development stage specialty pharmaceutical company focused on improved outcomes for cancer patients treated with radiation therapy. The stock finished down 2%.
Holdover bioAffinity Technologies, Inc. (NASDAQ: BIAF) raised about $8 million in its debut. The company develops proprietary non-invasive diagnostic tests and cancer therapeutics for lung cancer. The stock finished down 28%.
Hempacco Co., Inc. (NASDAQ: HPCO) raised $6 million in its pricing. The San Diego-based company sells nicotine-free cigarettes in over 200 retail locations, and plans to expand distribution through about 600 vending machines. The stock ended the week down 6%.
Pricings to look out for in the week ahead:
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 research and development pharmaceutical company has developed an unique resveratrol platform product to treat neuro-inflammation, called JOTROL.
Know Labs, Inc. (NYSE: KNW) plans to raise $6 million from 3 million shares priced at $2 each. The company is focused on the development and commercialization of proprietary biosensor technologies, using the technology to develop a non-invasive glucose monitor.