Mobia Medical, Odyssey Therapeutics and Others Go Public This Week
New listings continued to roll out this week, with Mobia Medical, Odyssey Therapeutics, Suja Life, and HawkEye 360 all making their public market debuts.LATEST IPOS AND DIRECT LISTINGS:Mobia Medicalopened on May 8 at $14. The company priced 10M shares at $15.00. The deal priced at the midpoint of the $14.00-$16.00 range. Mobia is a commercial-stage medical device company that says it is "redefining stroke recovery for survivors living with life-altering motor impairments."Odyssey Therapeuticsopened on May 8 at $20. The company priced 15.5M shares at $18.00. The deal size was increased to 15.5M shares from 13.2M and priced at the top end of the $16.00-$18.00 range. Odyssey is a clinical-stage biopharmaceutical company that says it is "seeking to transform the standard of care for patients suffering from autoimmune and inflammatory diseases by developing medicines that are designed to precisely target disease pathology."Suja Lifeopened on May 7 at $18.00. The company priced 8.89M shares at $21.00. The deal priced at the low-end of the $21.00-$24.00 range. Suja Life is a maker of organic, cold-pressed juices, wellness shots, and "better-for-you" sodas.HawkEye 360opened on May 7 at $33.80. The company priced 16M shares at $26.00. The deal priced at the high-end of the $24.00-$26.00 range. HawkEye 360 delivers space-based collection, proprietary signal processing, and AI-powered analytics to the U.S. Government and allied partners.RECENT SPAC IPOS:Starlink AI Acquisitionopened on May 8 at $10.00. The blank check company intends to conduct a search for target businesses without being limited to a particular industry.Shreya Acquisition Groupopened on May 7 at $10.00. The blank check company intends to focus on companies engaged in the health and wellness, hospitality, media and entertainment, shipping infrastructure and waterways tourism sectors.Vernal Capital Acquisitionopened on May 6 at $10. D. Boral Capital is acting as sole book-running manager of the offering.PERFORMANCE:Prices as of 11:00 am ET on Monday, May 11 -Mobia Medical – down over 2% at $11.50;Odyssey Therapeutics – up almost 4% at $17;Suja Life – down 1% at $17.66;HawkEye 360 – down about 3% at $32.46.RECENT IPOS TO WATCH:Madison Airand Arxisare already seeing coverage roll out, while AEVEX, Alamar Biosciencesand Kailera Therapeuticsare among stocks that could see new coverage this week as the quiet periods for banks that underwrote the companies' IPOs expire.UPCOMING IPOS:Upcoming IPO and direct listings expected include Inspire Brands, Csquare, Tarsier Pharma, and Quantinuum.Clickto see upcoming IPO calendar on TipRanks.Inspire Brandsannounced that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. Inspire Brands expects to use the net proceeds of the proposed offering to repay outstanding indebtedness under its existing term loan facility and pay offering fees and expenses. Inspire is a multi-brand restaurant company whose portfolio includes the Dunkin' Donuts, Arby's, Buffalo Wild Wings, Sonic Drive-In, Jimmy John's and Baskin-Robbins chains.Csquarefiled confidentially for a U.S. initial public offering, a signal that more data center companies are lining up to sell shares for the first time over the coming year, Bloomberg's Bailey Lipschultz. The provider of colocation and data center services announced on Friday that it had submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission. The Brookfield Infrastructure Partners-backed company joins a rush of new listings as the companies building out the backbone to support AI's energy needs seek to raise funds, the author notes.Tarsier Pharma Ltd.filed for an initial public offering of its ordinary shares and applied to list its ordinary shares on the NYSE American under the symbol "TARX". The prospectus stated, "Tarsier Pharma is developing TRS01 and TRS02, novel product candidates based on dazdotuftide, a new molecule with a new mechanism of action for uveitis and uveitic glaucoma. We are attempting to address a significant, underserved market opportunity and have engaged closely with the FDA on our clinical development strategy, including a Special Protocol Assessment agreement for our planned pivotal trial... Although we are still early in this journey, I believe we have the technology, the team, the discipline, and the persistence required to build an enduring company."Honeywellannounced thatQuantinuumhas publicly filed a registration statement on Form S-1 with the U.S. SEC relating to a proposed initial public offering of shares of its Class A common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. Quantinuum intends to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol "QNT." J.P. Morgan and Morgan Stanley are acting as joint lead active book-running managers for the proposed offering. Jefferies and Evercore ISI are also acting as active book-running managers.OTHER IPO NEWS:SpaceX's IPO filing indicates governance provisions that would give Elon Musk near-total control through supervoting shares and other restrictive measures, significantly limiting typical shareholder rights and avenues for investor oversight, Reuters' Anirban Sen, Ross Kerber and Suzanne McGee."Opening Day" is The Fly's recurring series of stories on the latest initial public offerings, their performance, and upcoming IPOs.
