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Shares of Invizyne Technologies gained as much as 13% following the company's $15 million initial public offering on Wednesday.

Latest IPOs and Direct Listings

Invizyne Technologies (IZTC) opened on Nov. 13 at $11.10. Invizyne is a cell-free enzyme-based biomanufacturing technology company that says it is leveraging cell-free, multi-step, enzyme-based systems to "efficiently transform natural or renewable resources into highly sought after biochemicals," such as Active Pharmaceutical Ingredients, or APIs, biofuels, food flavors, fragrances, and cosmetics.

Invizyne intends to use the net proceeds from the 1.875 million share offering for expanding production capabilities, expanding business development, sales, and marketing, repayment of a related party loan, working capital, and other general corporate purposes.

Alpha Cognition (ACOG) opened on Nov. 12 at $7.00. The company had priced its upsized public offering of 8.659 million common shares at a public offering price of $5.75 per share. Alpha Cognition intends to use the proceeds towards the commercialization and launch of Zunveyltm in Alzheimer's Disease, further research and development of its pipeline product candidates, continued commercial CMC activities, and for working capital and general corporate purposes.

Aduro Clean Tech (ADUR) opened on Nov. 7 at $4.25. The company had announced the pricing of its underwritten U.S. public offering of 941,177 common shares at a public offering price of $4.25 per common share. Aduro expects to use the net proceeds from this offering for ongoing research and development costs, expenditures related to the construction of its "Next Generation Process" unit, and the remainder for general corporate purposes and working capital.

Recent SPAC IPOs

• GSR III Acquisition (GSRT) opened on Nov. 7 at $9.98.
• Horizon Space Acquisition II (HSPT) opened on Nov. 15 at $9.99.

End-of-the-Week Performance

• Invizyne Technologies closed the week at $11.12;
• Alpha Cognition closed the week at $5.37;
• Aduro Clean Tech closed the week at $5.86.

Recent IPOs to Watch

Ingram Micro (INGM), WeRide (WRD), Septerna (SEPN), SAG Holdings (SAG), Synergy CHC (SNYR), High Roller Technologies (ROLR), FB Bancorp (FBLA), Founder Group (FGL), Li Bang (LBGJ), and Huhutech (HUHU) are among stocks that could see new coverage roll out this upcoming week as the quiet periods for banks that underwrote the companies' IPOs expire.

Upcoming IPOs

Upcoming IPO and direct listings expected include the likes of Pony AI, Infinity Natural Resources, Basel Medical Group, EPWK Holdings, Fast Track Group, Rivus, and ShipBob.

Pony.ai has filed with the SEC for an initial public offering of American depositary shares, or ADSs, representing Class A ordinary shares. The company has applied to list the shares on the Nasdaq Global Select Market under the symbol " PONY." Pony.ai is a Cayman Islands holding company which does not have any substantive business operations by itself. In China, Pony.ai conducts operations through its PRC subsidiaries.

The prospectus filed with the SEC states: "Pony is a global leader in achieving large-scale commercialization of autonomous mobility... We aim to mass commercialize our revolutionary autonomous driving technology to deliver safe, sustainable, and accessible mobility to people and businesses around the world."

Infinity Natural Resources filed for an initial public offering of its Class A common stock. The company intends to list its stock on the NYSE under the symbol "INR." Infinity Natural Resources is an independent exploration & production company that is "dedicated to the Appalachian region."

Basel Medical Group filed for an initial public offering on the Nasdaq under the symbol "BMGL." Cathay Securities is serving as the underwriter on the deal. Basel is a healthcare provider across Singapore and Southeast Asia.

EPWK Holdings filed an initial public offering of 2.75 million Class A ordinary shares. The company expects the initial public offering price will be between $4.00-$6.00 per Class A ordinary share, and has applied to list the shares on the Nasdaq Global Market under the symbol "EPWK."

Fast Track Group filed for an initial public offering of 3 million ordinary shares. It is currently estimated that the initial public offering price per share will be between $4.00-$5.00. The company has applied to list its shares on the Nasdaq Capital Market under the symbol "FTRK."

ShipBob has selected JPMorgan (JPM) to lead its planned listing, Bloomberg's Amy Or, Gillian Tan, and Ryan Gould reported earlier this year, citing people familiar with the situation. The Chicago-based e-commerce fulfillment service provider has also chosen Citigroup (C) as part of the syndicate, the authors said. An initial public offering could occur as soon as later this year and could value the company at $4 billion, the authors noted.

Rivus Pharmaceuticals, a drug developer focused on obesity treatments, is considering a US initial public offering as soon as 2024, Bloomberg's Bailey Lipschultz reported last month, citing people familiar with the matter. The company is working with banks on a listing, said those cited. Rivus, which counts RA Capital Management among its investors, may target raising more than $25 million, one of the people added.

Other IPO News

NielsenIQ is exploring an initial public offering that could value the consumer intelligence firm at about $10 billion, Bloomberg's Ryan Gould and Dinesh Nair reported earlier this month, citing people familiar with the matter.

NielsenIQ, which is backed by Advent International and KKR (KKR), has begun talking to potential advisers about a listing in 2025, those cited said. No final decision has been made and the Chicago-based company could opt to stay private, the people added.

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