{"id":17736,"date":"2023-06-03T14:13:35","date_gmt":"2023-06-03T18:13:35","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/u-s-ipo-weekly-recap-may-ipo-market-ends-with-a-quiet-week\/"},"modified":"2023-06-03T14:13:36","modified_gmt":"2023-06-03T18:13:36","slug":"u-s-ipo-weekly-recap-may-ipo-market-ends-with-a-quiet-week","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=17736","title":{"rendered":"U.S. IPO Weekly Recap: May IPO Market Ends With A Quiet Week"},"content":{"rendered":"
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There were no IPOs this past week, as the sole scheduled offering (AZTR) was delayed to the week ahead. Along with no post-Memorial Day launches, the pipeline was quiet, with no new initial filings. The summer IPO market is off to a slow start coming out of May, which was the year\u2019s slowest month for IPOs to date but also <\/span>the biggest for proceeds since December 2021. However, movement in the pipeline indicates a potential pickup in the coming months, with large initial filings from restaurant chain CAVA Group (<\/span>CAVA) and diagnostics company Advanced Biomed (<\/span>ADVB), as well as updates from large companies already in the pipeline (<\/span>FOGO, <\/span>MNX, <\/span>KGS, <\/span>SVV, <\/span>FIHL).<\/span><\/p>\n

Just one company is currently scheduled to list in the week ahead, although other small issuers may join the calendar during the week. Holdover Azitra (AZTR) may raise $12 million at a $70 million market cap. The biotech\u2019s pipeline is led by a genetically modified strain of bacteria targeting orphan disease Netherton syndrome. Azitra\u2019s lead candidate is expected to enter a Phase 1b trial in the 1H23, and the company has a joint development agreement with Bayer to develop bacterial microbes for consumer and cosmetic products.<\/span><\/p>\n

<\/span><\/p>\n\n\n\n\n\n\n\n
U.S. IPO Calendar<\/th>\n<\/tr>\n
IssuerBusiness<\/th>\n\n

Deal SizeMarket<\/p>\n

Cap<\/p>\n<\/th>\n

\n

Price RangeShares<\/p>\n

Filed<\/p>\n<\/th>\n

TopBookrunners<\/th>\n<\/tr>\n<\/thead>\n
\n

Azitra (AZTR)<\/p>\n

Branford, CT<\/p>\n<\/td>\n

\n

$12M<\/p>\n

$70M<\/p>\n<\/td>\n

\n

$4.50 –<\/p>\n

$5.502,400,000<\/p>\n<\/td>\n

ThinkEquity<\/td>\n<\/tr>\n
Phase 1-ready dermatology biotech developing engineered bacterial therapies.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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