Filings for new U.S. listings - 4/19/2024
CDT Environmental Technology Investment Holdings Ltd (424B4) - 04/18/2024
CDT Environmental Technology Investment Holdings Ltd, through its subsidiaries, is a waste treatment company that generates revenue through design, development, manufacture, sales, installation, operation and maintenance of sewage treatment systems and by providing sewage treatment services. The company primarily engages in two business lines: sewage treatment systems and sewage treatment services in both urban and rural areas of China.
| Name | CDT Environmental Technology Investment Holdings Ltd |
|---|---|
| HQ Location | Nanshan District, Shenzhen, China |
| Country/Region of Operations | China |
| Incorporation Jurisdiction | Cayman Islands |
| Ticker Symbol | CDTG |
| Exchange | Nasdaq Capital Market |
| Offer Size | $6,000,000 |
| Number of Shares offered | 1,500,000 |
| Offer Price | $4.00 per share |
| Underwriters | WestPark Capital, Inc. |
| Industry | Waste Treatment |
| Sales/Revenue | $15,463,803 (six months ended June 30, 2023) |
| Net Income/Loss | $1,808,282 (net income for six months ended June 30, 2023) |
| Total Liabilities | $29,809,285 (as of June 30, 2023) |
| Cash and Cash Equivalents | $40,827,229 (as of June 30, 2023) |
| Use of Proceeds | - Approximately 45% for working capital purposes for rural sewage treatment, including to build sewage treatment equipment - Approximately 35% for implementation of new systems and services and potential mergers and acquisitions of subsidiaries - Approximately 15% for research and development - Remainder for sales and marketing, additional working capital and general corporate purposes |
| Dividend Policy | The company does not intend to pay any cash dividends in the foreseeable future. The company intends to retain all available funds and any future earnings to fund the development and expansion of its business. |
| Risk Factors | - The company has a limited operating history and there is no assurance that its future operations will be profitable - The company faces risks related to natural disasters, health epidemics and other outbreaks, particularly the coronavirus - The company operates in highly competitive markets and the size and resources of many competitors may allow them to compete more effectively - Issues or defects with the company's products may lead to product liability, personal injury or property damage claims - The company's future growth depends on new products and new technology innovation - The company is based in and its operations are located in China, which subjects it to risks related to the Chinese regulatory environment - The company may be subject to the PCAOB's inability to inspect or investigate its auditor, which could result in the company's securities being prohibited from trading in the U.S. |
| Other | - The company has completed the filing with the China Securities Regulatory Commission (CSRC) and obtained the required filing notice for this offering - The company's auditor, Wei, Wei & Co., LLP, is PCAOB registered and based in the U.S. - The company's directors, officers and principal shareholders holding 5% or more of the shares collectively control approximately 81% of the company prior to the offering and are expected to hold approximately 69% after the offering |
| Link to Filing | Filing |
Tungray Technologies Inc (424B4) - 04/18/2024
Tungray Technologies Inc is an engineer-to-order (ETO) company that provides customized industrial manufacturing solutions to Original Equipment Manufacturers (OEMs) in the semiconductors, printers, electronics, and home appliances sectors. The company operates primarily in Singapore and China, generating around 65% and 35% of its revenue from these respective regions.
| Name | Tungray Technologies Inc |
|---|---|
| HQ Location | Singapore, Singapore |
| Country/Region of Operations | Singapore, China |
| Incorporation Jurisdiction | Cayman Islands |
| Ticker Symbol | TRSG |
| Exchange | Nasdaq Capital Market |
| Offer Size | $5,000,000 |
| Number of Shares offered | 1,250,000 Class A Ordinary Shares |
| Offer Price | $4.00 per share |
| Underwriters | US Tiger Securities, Inc. |
| Industry | Precision engineering, manufacturing, and consumer appliances |
| Sales/Revenue | $16,334,400 (2022) |
| Net Income/Loss | $3,399,429 (2022) |
| Total Liabilities | $10,987,410 (as of June 30, 2023) |
| Cash and Cash Equivalents | $18,066,538 (as of June 30, 2023) |
| Use of Proceeds | - 30% for research and development - 30% for strategic acquisitions and investments - 25% for sales, marketing and recruitment of personnel - 15% for general corporate purposes and working capital |
| Dividend Policy | The company intends to keep any future earnings to re-invest in and finance the expansion of the business, and does not anticipate paying any cash dividends in the foreseeable future. |
| Risk Factors | - Risks related to the complex and rapidly evolving laws and regulations in China where a substantial portion of operations are located - Risks related to obtaining necessary approvals or completing filing procedures with Chinese regulators for offshore offerings - Risks related to the company's status as a foreign private issuer and emerging growth company - Risks related to the company's dual-class share structure and being a "controlled company" - Risks related to the company's limited operating history in certain business segments - Risks related to the cyclical nature of the industries the company operates in |
| Other | - The company is incorporated in the Cayman Islands and conducts the majority of its operations in Singapore - The company's Chairman and CEO, Mr. Wanjun Yao, will hold over 92% of the total voting power after the offering - The company qualifies as an "emerging growth company" under the JOBS Act |
| Link to Filing | Filing |
Trident Digital Tech Holdings Ltd (F-1/A) - 04/19/2024
Trident Digital Tech Holdings Ltd is a leading digital transformation enabler in the SME segment of the e-commerce enablement and digital optimizing services market in Singapore. The company offers business consulting and IT customization services to help clients define and deliver technology-enabled business transformations. The company has also launched Tridentity, a Web 3.0 e-commerce platform, in December 2023.
| Name | Trident Digital Tech Holdings Ltd |
|---|---|
| HQ Location | Singapore, Singapore |
| Country/Region of Operations | Singapore, Southeast Asia |
| Incorporation Jurisdiction | Cayman Islands |
| Ticker Symbol | TDTH |
| Exchange | Nasdaq Capital Market |
| Offer Size | Unknown |
| Number of Shares offered | 14,400,000 Class B ordinary shares (Public Offering ADSs), 25,000,000 Class B ordinary shares (Shareholder ADSs) |
| Offer Price | $5.00 - $7.00 per ADS |
| Underwriters | Unknown |
| Industry | Digital solutions, e-commerce enablement and digital optimizing services |
| Sales/Revenue | $1,483,109 |
| Net Income/Loss | $(4,774,087) |
| Total Liabilities | $3,397,293) |
| Cash and Cash Equivalents | $1,808,603 |
| Use of Proceeds | - Approximately 35% for research and development, including Tridentity platform development - Approximately 25% for investment in the Singapore market - Approximately 40% for general corporate purposes, including potential strategic investments and acquisitions |
| Dividend Policy | The company does not intend to pay dividends in the foreseeable future after this offering. |
| Risk Factors | - Rapid growth may not be sustainable - Substantially all revenues are from targeted verticals - Ability to introduce new features and services - Intense competition in the industry - Fluctuations in operating results - Exposure to rising interest rates - Ability to implement growth strategies - Interruptions or performance issues with infrastructure - Dependence on third-party providers - Risks related to data collection and cybersecurity - Ability to protect intellectual property - Reliance on senior management and key personnel |
| Other | - Emerging growth company status - Controlled company structure after offering - Cayman Islands incorporation with potential limitations on shareholder rights |
| Link to Filing | Filing |
GCT Semiconductor Holding, Inc. (S-1) - 04/18/2024
GCT Semiconductor, Inc. is a fabless semiconductor company that specializes in the design, manufacturing and sale of communication semiconductors, including high-speed wireless communication technologies such as 5G/4.75G/4.5G/4G transceivers and modems. The company has successfully developed and supplied communication semiconductor chipsets and modules to leading wireless operators worldwide, as well as to original design manufacturers (ODMs) and original equipment manufacturers (OEMs) for various applications.
| Name | GCT Semiconductor Holding, Inc. |
|---|---|
| HQ Location | San Jose, California |
| Country/Region of Operations | United States, China, Taiwan, Japan, South Korea |
| Incorporation Jurisdiction | Delaware |
| Ticker Symbol | GCTS (Common Stock), GCTSW (Warrants) |
| Exchange | New York Stock Exchange |
| Offer Size | Unknown |
| Number of Shares offered | 35,970,732 shares of Common Stock, 6,580,000 Warrants |
| Offer Price | Unknown |
| Underwriters | Unknown |
| Industry | Semiconductors & Related Devices |
| Sales/Revenue | $16,028,000 (2023) |
| Net Income/Loss | $1,132,000 (2023) |
| Total Liabilities | $114,801,000 (Current Liabilities), $7,689,000 (Net Defined Benefit Liabilities) |
| Cash and Cash Equivalents | $258,000 (2023) |
| Use of Proceeds | General corporate purposes, including working capital, capital expenditures and future acquisitions |
| Dividend Policy | The company does not intend to issue a dividend for the foreseeable future. |
| Risk Factors | - If the 5G market does not develop or develops more slowly than expected, or if the company fails to accurately predict market requirements or market demand for 5G solutions, the company's financial performance will be adversely affected. - The company's products target primarily certain segments in the 5G markets, including fixed wireless access, mobile broadband, and M2M applications, and if these markets do not develop or grow as anticipated, the company's financial performance will be adversely affected. - The company depends on the commercial deployment of 4G LTE and 5G communications equipment, products and services to grow its business, and the company's business may be harmed if wireless carriers delay in the adoption of 5G standards, or if they deploy technologies that are not supported by the company's solutions. - The company relies on a small number of customers for a significant percentage of its revenue, and the loss of, or a reduction in, orders from these customers could result in a substantial decline in the company's revenue. - The semiconductor and communications industries are cyclical and have historically experienced significant fluctuations with prolonged downturns, which could impact the company's operating results, financial condition and cash flows. |
| Other | - The company was founded in Silicon Valley, California in 1998 and is a fabless semiconductor company. - The company conducts product design, development, and customer support through its fully owned subsidiaries in South Korea. - The company has established long-standing relationships with Tier 1 and Tier 2 network operators worldwide. - The company has developed proprietary multi-antenna technology that is uniquely suited to relieve carriers' network overloads arising from rapid fixed wireless access adoption. - The company plans to continuously expand its product lineup to support 5G chipsets for future applications such as vehicle-to-everything standard, 5G-based satellite communication, and 5G-based IoT standard. |
| Link to Filing | Filing |
Lirum Therapeutics, Inc. (S-1/A) - 04/18/2024
Lirum Therapeutics is an innovative, clinical-stage biopharmaceutical company focused on the treatment of debilitating diseases through the acquisition, development, and commercialization of novel drug candidates with compelling mechanisms of action, regulatory pathways, and commercial opportunities. The company's lead product candidate is LX-101, a novel, clinical-stage, next generation, precision-engineered targeted therapy directed to the IGF-1R.
| Name | Lirum Therapeutics, Inc. |
|---|---|
| HQ Location | New York, NY |
| Country/Region of Operations | United States |
| Incorporation Jurisdiction | DE |
| Ticker Symbol | LRTX |
| Exchange | Nasdaq Capital Market |
| Offer Size | Unknown |
| Number of Shares offered | 2,270,000 |
| Offer Price | $10.00 - $12.00 per share |
| Underwriters | ThinkEquity |
| Industry | Biopharmaceutical |
| Sales/Revenue | Unknown |
| Net Income/Loss | Unknown |
| Total Liabilities | $2,179,757 |
| Cash and Cash Equivalents | $4,008,999 |
| Use of Proceeds |
- Approximately $3.9 million to fund the manufacture of LX-101 API and drug product for use in clinical trials - Approximately $3.2 million to conduct Phase 1 trials for LX-101 in oncology indications - Approximately $6.1 million to conduct Phase 1 trials for LX-101 in thyroid eye disease and other cancers - Approximately $2.2 million for preclinical studies and R&D related to product candidates - Remaining proceeds for hiring, capital expenditures, public company costs, and potential in-licensing or acquisitions |
| Dividend Policy | The firm does not intend to issue a dividend in the foreseeable future. |
| Risk Factors |
- We have a limited operating history, have not initiated or completed any clinical trials to date, and have no products approved for commercial sale - We have incurred net losses since inception and may never achieve or maintain profitability - We are substantially dependent on the success of our lead product candidate, LX-101 - Clinical trials are very expensive, time-consuming and difficult to design and implement - We may fail to demonstrate safety and efficacy of our product candidates to our stakeholders - The development and commercialization of pharmaceutical products are subject to extensive regulation - We may be unable to obtain and maintain patent protection or other necessary rights for our products and technology - We face intense competition and rapid technological change - We currently have no marketing and sales organization |
| Other |
- The company was founded in 2021 and is led by an experienced management team - LX-101 is a novel, next generation targeted therapy directed to the IGF-1R, which has been implicated in various cancers and autoimmune diseases - The company plans to advance LX-101 into Phase 1b/2 trials in oncology and Phase 1 trials in thyroid eye disease - The company intends to expand its portfolio through additional acquisitions and in-licensing of drug candidates |
| 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.
