The microcap IPO flow picked up in March and remains steady, with six companies on the calendar.
Companies include a Phase 2 biotech developing brain cancer therapies, a manufacturer and distributor of power sports vehicles and motor boats, a cleantech company that designs, manufactures, and sells ASVs, a China waste treatment company that designs, develops, manufacturers, sells, installs, operates, and maintains sewage treatment systems, a Hong Kong company providing public relations such as communications and reputation management, and a provider of solar photovoltaic-based energy solutions for commercial and residential building markets in the United States and Australia.
Brain Cancer Therapy
NeOnc Technologies Holdings (NTHI) has an estimated IPO date of March 13, seeking to raise $75 million at a $282 million market cap. Founded in 2008 and based in the United States, the company is a Phase 2 biotech developing oral and intranasal therapies for brain cancer.
NeOnc Technologies Holdings booked a fair market value investment of over $22 million as of Sept. 30, 2023. The sole bookrunner on this deal is Loop Capital Markets.
Updated IPOs
Massimo Group (MAMO) had estimated IPO dates of Feb. 13 and Feb. 23, seeking to raise almost $6 million at around a $186 million market cap. The company now has an estimated IPO date of March 13, still intending to raise nearly $6 million at about a $186 market cap.
RanMarine Technology (RAN) still has an estimated IPO date of March 13, aiming to raise nearly $8 million at about a $61 million market cap.
CDT Environmental Technology Investment Holdings (CDTG) had an estimated IPO date of March 8, seeking to raise $9 million at around a $50 million market cap. The company now has an estimated IPO date of March 14, still intending to raise $9 million at about a $50 million market cap.
Intelligent Group Limited (NTJ) had an estimated IPO date of March 6, intending to raise $9 million at an almost $60 million market cap. The company now has an estimated IPO date of March 19, still aiming to raise $9 million at a nearly $60 million market cap.
SolarJuice (SJA) had an estimated IPO date of April 6, 2023, seeking to raise more than $16 million with a $154 market cap. The company now has an estimated IPO date of March 21, aiming to raise almost $19 million at about a $144 million market cap.
