IPOs this week : Apr 28 - May 2, 25 (wk 18)

AIRO - Albuquerque, N.M., 5 million shares, priced at $14-$16, managed by Cantor Fitz. BTIG. Proposed Nasdaq symbol AIRO. Business: Developer of drones and eVTOL aircraft.

OMS Energy Technologies - Singapore, 5.6 million shares, priced at $8-$10, managed by Roth Cap.. Proposed Nasdaq symbol OMSE. Business: Singapore-based manufacturer of surface wellhead systems and oil country tubular goods.

Bgin Blockchain - Singapore, 6.3 million shares, priced at $7-$9, managed by Chardan Benchmark. Proposed Nasdaq symbol BGIN. Business: Makes equipment for cryptocurrency mining with a focus on alternative coins.

Yuanbao - Beijing, 2 million shares, priced at $13-$15, managed by Goldman (Asia) Citi. Proposed Nasdaq symbol YB. Business: Online distributor of insurance policies in China.

Apimeds Pharmaceuticals – Hopewell, N.J., 3.5 million shares, priced at $4-$5, managed by D. Boral Capital. Proposed NYSE American symbol APUS. Business: Clinical stage biotech developing bee venom-based treatment for inflammation.

==Skye Bioscience (SKYE) : 1-year performance

Skye Bioscience, Inc., a clinical stage biopharmaceutical company, focuses on developing molecules that modulate G protein-coupled receptors (GPCRs) to treat obesity, overweight, and metabolic diseases. Its lead product candidate is nimacimab, a peripherally restricted negative allosteric modulating antibody targeting cannabinoid receptor 1, a key GPCR involved in metabolic regulation. 

The company was formerly known as Emerald Bioscience, Inc. and changed its name to Skye Bioscience, Inc. in January 2021. 

• Sector: Healthcare
• Industry: Biotechnology
• Full Time Employees: 16
• Headquartered in San Diego, California
• https://skyebioscience.com

CBLL : 6-month performance

Ticker: CBLL

Basel Medical Group (BMGL) began trading on the Nasdaq on Tue 25 Feb 25

Basel Medical Group Ltd engages in the provision of healthcare services in Singapore. 

• Sector: Healthcare
• Industry: Medical Care Facilities
• Full Time Employees: 32
• Incorporated in 2023 
• HQ in Singapore
• https://baselmedical.com

IPO: 25 Feb 25;  initial public offering of 2,205,000 ordinary shares at a public offering price of US$4.00 per share

Ticker: BMGL

FatPipe (FATN) began trading on the Nasdaq on Tue 8 Apr 25

FatPipe, Inc. develops secure software-defined wide area network (SD-WAN), secure access service edge (SASE), and network monitoring service (NMS) software solutions for organizations in the United States and internationally.

Operations in the United States, Nigeria, Philippines, Australia, India, and South Africa.

• Sector: Technology
• Industry: Software - Infrastructure
• Full Time Employees: 154
• Founded in 1989
• HQ in Salt Lake City, Utah
• https://www.fatpipeinc.com

Ticker: FATN

Initial public offering of 695,656 shares of common stock at a public offering price of $5.75 per share.

 

Wellchange (WCT) : 6-month performance

Wellchange Holdings Co. Ltd. is a holding company, which engages in the provision of enterprise software solution services. It provides tailor-made software solutions, cloud-based software-as-a-service (SaaS) services, and white-labelled software design and development services. 

• Sector: Technology
• Industry: Software - Application
• Full Time Employees: 7
• Founded in 2011 
• Headquartered in Cheung Sha Wan, Hong Kong
• https://www.wchingtech.com

Stablecoin issuer Circle Internet Group, Inc. files for IPO

Circle, the company behind the USDC stablecoin, has filed for a U.S. initial public offering, becoming the latest tech firm that is aiming to test the market as tariff uncertainty and worries about the economy’s health weigh on the stockmarket.

In its prospectus filed with the Securities and Exchange Commission on Tuesday, Circle said it plans to list on the New York Stock Exchange under ticker symbol “CRCL.” A stablecoin is a cryptocurrency whose value is pegged, or tied, to that of another currency, commodity, or financial instrument and so tends to be less volatile than other digital assets like Bitcoin. USDC, which was launched in 2018, is backed by U.S. dollar assets.

Circle, which had previously announced plans to go public in 2021 via a SPAC merger, said in Tuesday's SEC filing that its net income last year was $155.7 million, down from $267.5 million a year earlier. It had $1.68 billion in revenue and reserve income in 2024, versus $1.45 billion in 2023.