Filings for new U.S. listings - 4/15/2024
Gauzy Ltd. (F-1) - April 12, 2024
Gauzy Ltd. is a fully-integrated light and vision control company, transforming the way we experience our everyday environments. The company's cutting-edge nanotechnology and electronics capabilities in light control, and its mechatronics and image analysis technologies in vision control, are revolutionizing mobility and architectural end-markets. Gauzy has established distinct leadership positions across these large and high-growth markets, where its technologies are replacing traditional mechanical products, such as shades, blinds and mirrors, with advanced and sustainable solutions offering superior functionality.
| Name | Gauzy Ltd. |
|---|---|
| HQ Location | Tel-Aviv, Israel |
| Country/Region of Operations | Global |
| Incorporation Jurisdiction | State of Israel |
| Ticker Symbol | GAUZ |
| Exchange | Nasdaq |
| Offer Size | Unknown |
| Number of Shares offered | Unknown |
| Offer Price | Unknown |
| Underwriters | Barclays, TD, Cowen, Stifel |
| Industry | Light and vision control technologies |
| Sales/Revenue (2023) | $77,980,000 |
| Net Income/Loss (2023) | Net Loss of $79,267,000 |
| Total Liabilities | $194,298,000 |
| Cash and Cash Equivalents | $4,575,000 |
| Use of Proceeds | The principal purposes of this offering are to obtain additional working capital, to create a public market for the company's ordinary shares and to facilitate its future access to the public equity markets. The company intends to use substantially all of the net proceeds from this offering for general corporate purposes, including the purchase of equipment and materials for the expansion of production lines, research and development, advertising and marketing, technology development, working capital, operating expenses and other general corporate purposes. The company may also use a portion of the remaining net proceeds to acquire complementary businesses, products, services or technologies. |
| Dividend Policy | The company has never declared or paid any cash dividends to its shareholders and does not anticipate or intend to pay cash dividends in the foreseeable future. The company currently intends to retain future earnings, if any, to finance operations and expand its business. |
| Risk Factors | - The company invests significant effort and capital seeking validation of its light and vision control products with OEMs and Tier 1 suppliers, and there is no assurance it will win production models. - Failure to make competitive technological advances may put the company at a disadvantage. - The company is an early growth-stage company with a history of losses and anticipates continuing to incur significant losses. - The company's operating results and financial condition have fluctuated in the past and may fluctuate in the future. - The company is exposed to high repair and replacement costs. - The company may fail to accurately estimate future supply and demand for its products. - The estimates and forecasts of market opportunity and growth may prove to be inaccurate. - The company may be unable to adequately control capital expenditures and costs. - The company may need to raise additional capital before becoming profitable. - Shortages in supply, price increases or deviations in raw material quality could adversely affect sales and results. - Disruptions in the global economy caused by the Russia-Ukraine conflict could adversely impact the business. |
| Other | N/A |
| Link to Filing | Filing |
Marex Group plc (F-1/A) - April 15, 2024
Marex is a diversified global financial services platform providing essential liquidity, market access and infrastructure services to clients across energy, commodities and financial markets. The company provides clearing, agency and execution, market making, and hedging and investment solutions services. Marex operates in a large and fragmented market with high barriers to entry and reduced competitive intensity.
| Name | Marex Group plc |
|---|---|
| HQ Location | London, United Kingdom |
| Country/Region of Operations | Europe, Americas, Middle East, Asia-Pacific |
| Incorporation Jurisdiction | England and Wales |
| Ticker Symbol | MRX |
| Exchange | Nasdaq |
| Offer Size | Unknown |
| Number of Shares offered | 15,384,615 ordinary shares (3,846,153 by the company, 11,538,462 by Selling Shareholders) |
| Offer Price | Expected to be between $18.00 and $21.00 per ordinary share |
| Underwriters | Barclays, Goldman Sachs & Co. LLC, Jefferies, Keefe, Bruyette & Woods A Stifel Company, Citigroup, UBS Investment Bank, Piper Sandler, HSBC, Drexel Hamilton, Loop Capital Markets |
| Industry | Financial services, providing liquidity, market access and infrastructure services across energy, commodities and financial markets |
| Sales/Revenue (2023) | $1,244.6 million |
| Gains/Losses (2023) | Profit after tax of $141.3 million |
| Total Liabilities | Unknown |
| Cash and Cash Equivalents | Unknown |
| Use of Proceeds | The company estimates net proceeds of approximately $63.4 million, which it intends to use for working capital, to fund incremental growth and other general corporate purposes. |
| Dividend Policy | Beginning in the third quarter of 2024, subject to the recommendation of the board of directors, the company expects to pay dividends on a quarterly basis. |
| Risk Factors | Key risks include subdued commodity market activity, client and counterparty defaults, regulatory and compliance risks, technology and cybersecurity risks, risks related to OTC derivatives and cryptocurrencies, and risks related to acquisitions and integration. The company has also identified material weaknesses in its internal control over financial reporting. |
| Other | - The company is a "foreign private issuer" and will be eligible for reduced public company disclosure requirements. - ION Investment Corporation S.à r.l. has indicated interest in purchasing up to $50 million of ordinary shares in the offering. |
| Link to Filing | Filing |
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