Filings for new U.S. listings - 4/18/2024
Ibotta, Inc. (424B4) - April 18, 2024
Ibotta's mission is to Make Every Purchase Rewarding. Its technology allows CPG brands to deliver digital promotions to over 200 million consumers through a single, convenient network called the Ibotta Performance Network (IPN). Ibotta is a pioneer in success-based marketing, only getting paid when a client's promotion results in a sale. Ibotta has built the largest digital item-level promotions network in the United States by forming strategic relationships with major retailers such as Walmart and Dollar General.
| Name | Ibotta, Inc. |
|---|---|
| HQ Location | Denver, CO |
| Country/Region of Operations | United States |
| Incorporation Jurisdiction | Delaware |
| Ticker Symbol | IBTA |
| Exchange | New York Stock Exchange |
| Offer Size | $577,341,600 |
| Number of Shares offered | 6,560,700 |
| Offer Price | $88.00 per share |
| Underwriters | Goldman Sachs & Co. LLC, Citigroup, BofA Securities, Evercore ISI, UBS Investment Bank, Wells Fargo Securities, Citizens, JMP, Needham & Company, Raymond James |
| Industry | Digital Promotions and Marketing |
| Sales/Revenue | $320,037,000 |
| Net Income/Loss | $38,117,000 |
| Total Liabilities | $198,150,000 |
| Cash and Cash Equivalents | $62,591,000 |
| Use of Proceeds | General corporate purposes, including working capital, operating expenses, and capital expenditures |
| Dividend Policy | The firm does not intend to issue a dividend in the foreseeable future. |
| Risk Factors | - We have a history of net losses and may not be able to continue to be profitable. - Our business depends on maintaining and expanding relationships with publishers, CPG brands, and retailers. - Failure to maintain or grow offer redemptions on our network could negatively impact our revenues. - Competition presents an ongoing threat to our business. - We have a limited operating history and operate in an evolving industry. - Our business is subject to complex and evolving laws and regulations. - Our dual class stock structure concentrates voting control with our founder. |
| Other | - Ibotta was founded in 2011 and is headquartered in Denver, Colorado. - Ibotta has over 850 different clients representing over 2,400 CPG brands. - Ibotta has 85 integrated retailers that provide item-level data. - Ibotta has over 50 million registered users for its mobile app and website. - Ibotta is considered a "controlled company" due to its dual class stock structure. |
| Link to Filing | Filing |
Invizyne Technologies Inc (S-1/A) - 04/17/2024
Invizyne Technologies Inc. is a biotechnology company developing a biomanufacturing platform called SimplePath™ that aims to efficiently transform natural or renewable resources into various chemicals used in pharmaceuticals, fuels, materials, food additives, and other applications. The company's objective is to provide an alternative to current chemical synthesis, natural extraction, and synthetic biology methods.
| Name | Invizyne Technologies Inc |
|---|---|
| HQ Location | Monrovia, CA |
| Country/Region of Operations | United States |
| Incorporation Jurisdiction | Nevada |
| Ticker Symbol | IZTC |
| Exchange | Nasdaq |
| Offer Size | $17,200,000 |
| Number of Shares offered | 4,300,000 |
| Offer Price | $4.00 per share |
| Underwriters | Public Ventures, LLC |
| Industry | Biotechnology |
| Sales/Revenue (Most Recent Year) | $70,069 (2023) |
| Net Income/Loss (Most Recent Year) | N/A |
| Total Liabilities | $3,942,828 (2023) |
| Cash and Cash Equivalents | $66,533 (2023) |
| Use of Proceeds |
- Expand production capabilities, including capital expenditures - Increase staff - Expand business development, sales and marketing efforts - Expand research and development and technology platform - Add to working capital |
| Dividend Policy | The firm does not intend to issue a dividend or make cash distributions related to its equity securities while it is developing its business. |
| Risk Factors |
- Invizyne has a limited operating history and is a pre-revenue, development stage company - The company may not be able to generate revenue or become profitable in the future - The company will need additional capital to support its growth and operations - The company's synthetic biological platform may not be able to develop a pipeline of commercial products - The company does not have any sales, marketing, manufacturing and distribution capabilities or arrangements - The company's processes rely on the need for purified enzymes and co-factors which it may not be able to source cost-effectively - The company faces competition from other companies and research institutions in the synthetic biology market - The company may face regulatory hurdles for its bio-synthesized compounds - The company is highly dependent on retaining and hiring scientific and technical personnel - Laboratory conditions may differ from commercial conditions, affecting the effectiveness of the company's potential products |
| Other |
- Invizyne has received over $12.9 million in grants from government and non-government sources to advance its technology - The company's commercialization strategy is to collaborate with third parties to engage in aspects of product research, testing, marketing, manufacturing, and distribution - Invizyne has a portfolio of patents and patent applications, including a license from UCLA, that it believes provides a defensible position for its technology - The company's board of directors and management team have significant experience in the biotechnology and synthetic biology industries |
| Link to Filing | Filing |
Loar Holdings Inc. (S-1/A) - April 17, 2024
Loar Holdings Inc. specializes in the design, manufacture, and sale of niche aerospace and defense components that are essential for today's aircraft and aerospace and defense systems. The company focuses on mission-critical, highly engineered solutions with high-intellectual property content, and its products have significant aftermarket exposure, generating predictable and recurring revenue. Loar serves three core end markets - commercial, business jet and general aviation, and defense - and has a diversified customer base within these markets.
| Name | Loar Holdings Inc. |
|---|---|
| HQ Location | White Plains, New York, USA |
| Country/Region of Operations | United States, United Kingdom, Germany |
| Incorporation Jurisdiction | Delaware |
| Ticker Symbol | LOAR |
| Exchange | New York Stock Exchange (NYSE) |
| Offer Size | Approximately $252.3 million (or $290.7 million if underwriters exercise option) |
| Number of Shares offered | 11,000,000 (or 12,650,000 if underwriters exercise option) |
| Offer Price | $24.00 - $26.00 per share |
| Underwriters | Morgan Stanley & Co. LLC Jefferies LLC Moelis & Company Citigroup RBC Capital Markets |
| Industry | Aerospace and defense components |
| Sales/Revenue (2023) | $317.5 million |
| Net Income/Loss (2023) | Net loss of $4.6 million |
| Total Liabilities | $539.1 million as of December 31, 2023 |
| Cash and Cash Equivalents | $21.5 million as of December 31, 2023 |
| Use of Proceeds | Repayment of borrowings under Credit Agreement and general corporate purposes, including working capital |
| Dividend Policy | No current plans to pay dividends. |
| Risk Factors | Key risks include the company's focus on the aerospace and defense industry, reliance on certain customers, ability to successfully integrate acquisitions, dependence on executive officers and skilled employees, cyclical nature of sales to aircraft manufacturers, supply chain and raw material availability, loss of government/industry approvals, sensitivity to global economic and geopolitical conditions, cybersecurity threats, inability to protect intellectual property, environmental liabilities, impact of tariffs and trade regulations, and risks related to the company's indebtedness and being a controlled company after the offering. |
| Other | - The company was originally formed as a limited liability company in 2012 and converted to a corporation in 2024. - Dirkson Charles is the President, CEO, Executive Co-Chairman and a Director, and Brett Milgrim is the Executive Co-Chairman and a Director. - After the offering, Abrams Capital, GPV Loar LLC, Dirkson Charles and Brett Milgrim will control a majority of the voting power, making Loar a "controlled company." - The company qualifies as an "emerging growth company" under the JOBS Act. |
| Link to Filing | Filing |
Disclaimer: This content was made with the help of IPOX® Artificial Intelligence solutions and may be incomplete or contain mistakes. The information does not constitute financial advice, endorsement or recommendation and should not be considered as such.
