Securities Regulation Daily Wrap Up, IPO TRACKER—IPO market sees rare week without a preliminary filing, (Feb 20, 2024)
Organizations Mentioned:Chromocell Therapeutics Corp. | Unusual Machines, Inc.
A snapshot of the week’s IPO activity, including completed deals, new preliminary filings and IPO withdrawals.
The IPO market’s only activity last week was two completed offerings as no companies filed new registrations or Forms RW. Puerto Rico-based Unusual Machines made its public market debut. The offering generated $5 million in proceeds for the provider of first-person view drone technologies. The other new issuer was Chromocell Therapeutics. The maker of pain management therapeutics priced after 13 months in public registration. SIC 2836 (Biological Products) has now produced four IPOs in 2024, more than any other industry group.
New registrants. The week’s activity included no preliminary registrations for the first time since December 2022. February’s tally of new filings is holding at nine, currently 12 fewer than January’s total. Last February saw 22 companies publicly register.
Withdrawals. No companies elected to withdraw their pending registration statements last week.
The information reported in IPO Tracker is gathered using IPO Vital Signs, a Wolters Kluwer Regulatory U.S. database that includes all SEC registered IPOs, including REITs and those non-U.S. IPO filers seeking to list in the U.S. markets. IPO Vital Signs does not track closed-end funds, best efforts or non-underwritten deals, or IPO offerings for amounts less than $5 million.
Companies: Unusual Machines, Inc.; Chromocell Therapeutics Corp.
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