There are no companies scheduled to price next week, though two micro-cap IPOs may price on a day-to-day basis: Chinese healthcare training platform Zhongchao (ZCMD) and flooring roll-up F5 Finishes (FLRZ). A number of IPOs may launch on Tuesday, including preclinical gene therapy developer Passage Bio (PASG). Renaissance Capital's IPO Index is up 11.2%, indicating new filing activity should also pick up in the week ahead.
Zhongchao, a Chinese internet platform for medical information, education, and training, plans to raise $15 million by offering 3.5 million shares at a price range of $4.00 to $4.50. At the midpoint, Zhongchao’s market cap would be $107 million. The company grew sales by 35% in the first half of 2019 to $7 million with net income of $1.7 million and it plans to use IPO proceeds of the offering to expand the business and upgrade platform technology.
F5 Finishes, a California-based commercial flooring roll-up, plans to raise $20 million by offering 4 million shares at a price of $5 per share. The company has lowered the price range twice; initially filing at a range of $9 to $11, then $7 to $8 before lowering to the current proposed price.
|U.S. IPO Calendar|
F5 Finishes (FLRZ)
|A roll-up of commercial flooring providers.|
|$4 - $4.50
|Chinese internet platform providing medical information, education, and training.|
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IPO Market Snapshot
US IPO Week Ahead: IPO market slows during short holiday week
Investment Disclosure: Renaissance IPO ETF (symbol: IPO) Renaissance International ETF (symbol: IPOS)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
In This StoryZCMD
- Waste management company GFL Environmental relaunches IPO with lowered range of $20 to $21; adds $700 million equity unit offering
- Gene therapy developer Passage Bio prices upsized IPO at the $18 high end
- High-growth medical device maker Inari Medical files for a $100 million IPO
- Preclinical biotech Passage Bio increases IPO share offering by 35%, now plans to raise $170 million