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Maris Tech (NASDAQ:MTEK) began trading on February 2 at $3.2 after having priced at $4.2. The deal size was ~$3.69M shares for $15.5M gross proceeds. MTEK designs and manufactures digital video and audio hardware and software solutions for the military and IoT markets worldwide. Its products are used in unmanned vehicle and drone, space, homeland security, defense, and commercial industrial markets and applications. As of December 2020, company had a total revenue of $987,883 and diluted EPS at -$0.10. The stock traded at $2.7 at Friday's close, after slumping 20% from its high of $3.34.
SPAC, Alset Capital Acquisition (NASDAQ:ACAXU) began trading on February 1 having priced at 7.5M shares $10 for gross proceeds of $75M. EF Hutton, division of Benchmark Investments served as sole book-running manager for the offering. Sichenzia Ross Ference served as legal counsel. Company will look for combinations with businesses and technologies adjacent to real estate. Stock trades flat.
Real-estate focused, Murphy Canyon Acquisition (MURFU) began trading on February 3, raised $132.25M through 13.225M shares at $10 per unit. Underwriter's over-allotment option fully exercised. Company is sponsored by Murphy Canyon Acquisition Sponsor, a wholly owned subsidiary of Presidio Property Trust. Intends business combinations of companies in the real estate adjacent businesses and technologies targeting the real estate space with an aggregate combined enterprise value of ~$300M-1.2B. Stock ended at $10.04 on Friday.
SPAC, Kimbell Tiger Acquisition (NYSE:TGR.U) to raise $200M, deal size being 8M shares at $10. Company is a subsidiary of Kimbell Royalty Partners whose chairman and CEO Robert Ravnaas will lead as its chairman, while Zachary Lunn sits as the CEO. Company intends to search for business combination in the energy and natural resources industry in North America. Stock traded at $10.08 on Friday.
Nuvectis Pharma (NASDAQ:NVCT) has priced ~$16M IPO, deal size being 3.2M shares at $5. The company is a biopharmaceutical company focused on the development of innovative precision medicines for serious conditions of unmet medical need in oncology. Stock has slumped 35% to $3.25 on Friday
Arcellx (NASDAQ:ACLX) has priced IPO of 8.25M shares at $15 per share for proceeds of ~$123.8M. Company initially filed to offer in the range of $15-17, for $161.3M proceeds. Company is focused on developing cell-based immunotherapies to treat cancer and incurable diseases and plans to use proceeds to fund development of its therapy candidates CART-ddBCMA, ACLX-001 and ACLX-002. Stock trades at $17, gaining 13%.
What's in store next week:
Cariloha (ALOHA) has filed to raise $32M, deal size being 2.3M shares in the range of $12 to $14 per share. It is a marketer of branded bamboo-fabric bedding, bath products and apparel. The company has marketing contracts with several of the major cruise lines, including Carnival, Royal Caribbean, Norwegian, Princess, MSC and Holland America, which allows it to promote Cariloha-branded products to passengers.