IZTC
Invizyne Technologies INC
NASDAQ
8-K: Invizyne Technologies Completes $15 Million Initial Public Offering, Shares Begin Trading on Nasdaq
Sentiment:
Initial Public Offering Announcement
18 November 2024 4:45 PM
Invizyne Technologies successfully completed its initial public offering, raising $15 million and commencing trading on the Nasdaq Capital Market under the ticker symbol IZTC.
Capital raise
The company completed an initial public offering of 1,875,000 shares at $8.00 per share, raising $15 million in gross proceeds.
A concurrent private placement of 93,750 warrants was completed at $0.125 per warrant, with an exercise price of $8.00 per share, potentially raising an additional $750,000 if fully exercised.
The underwriter has a 45-day option to purchase an additional 281,250 shares, which could result in further capital raising if exercised.
Summary
- Invizyne Technologies, a biomanufacturing company, has completed its initial public offering (IPO), selling 1,875,000 shares of common stock at $8.00 per share.
- The IPO generated gross proceeds of $15 million for the company, before deducting underwriting discounts and offering expenses.
- The company granted the underwriter a 45-day option to purchase an additional 281,250 shares to cover over-allotments.
- In a concurrent private placement, Invizyne issued 93,750 warrants to accredited investors at $0.125 per warrant, exercisable at $8.00 per share.
- The company received net proceeds of $14,321,686 from the IPO after deducting underwriting discounts, commissions, and other offering expenses.
- The common stock began trading on the Nasdaq Capital Market under the ticker symbol IZTC on November 13, 2024.
- The company intends to use the net proceeds for expanding production capabilities, business development, sales and marketing, repayment of a related party loan, working capital and other general corporate purposes.
- The company also converted simple agreements for future equity (SAFEs) into 125,001 shares of common stock.
Sentiment
Score: 8
Explanation: The document conveys a positive sentiment due to the successful completion of the IPO and the company's plans for growth. The language used is optimistic and forward-looking, indicating confidence in the company's future prospects. However, the presence of risks and uncertainties tempers the overall sentiment slightly.
Positives
- The successful completion of the IPO provides Invizyne with significant capital to fund its growth plans.
- The listing on the Nasdaq Capital Market increases the company's visibility and access to capital markets.
- The concurrent private placement provides additional funding and potential future capital if the warrants are exercised.
- The company has a clear plan for the use of the IPO proceeds, focusing on expansion and growth.
Negatives
- The company incurred significant underwriting discounts and offering expenses, reducing the net proceeds from the IPO.
- The private placement warrants have a lock-up period of one year, which may limit their immediate impact on the company's financials.
- The underwriter's warrants could potentially dilute existing shareholders if exercised.
Risks
- The company's future performance is subject to risks and uncertainties, as highlighted in the forward-looking statements.
- The company's ability to successfully execute its growth plans and achieve its objectives is not guaranteed.
- The company's reliance on its SimplePath platform may expose it to risks if the technology does not perform as expected.
- The company's financial performance may be affected by market conditions and competition in the biomanufacturing industry.
Future Outlook
Invizyne intends to use the net proceeds from the offering for expanding production capabilities, business development, sales and marketing, repayment of a related party loan, working capital and other general corporate purposes. The company's SimplePath platform is expected to be a significant alternative to current methods of chemical compound production.
Management Comments
- Michael Heltzen, CEO of Invizyne, stated that the IPO marks an important milestone for the company and its next generation enzymatic biomanufacturing platform.
- He also mentioned that the IPO will allow the company to scale and commercialize its platform.
Industry Context
This IPO reflects the growing interest in biomanufacturing and the potential of cell-free enzyme-based systems. Invizyne's technology aims to disrupt traditional chemical production methods, aligning with the industry's shift towards more sustainable and efficient processes. The company's focus on producing high-value biochemicals like APIs, biofuels, and cosmetics positions it within a rapidly expanding market.
Comparison to Industry Standards
- Invizyne's IPO is comparable to other biotech companies going public to fund research and development and scale production.
- The company's focus on cell-free enzyme-based systems is a differentiating factor compared to companies using traditional synthetic biology methods.
- The $15 million gross proceeds are within the range of other early-stage biotech IPOs, but the success of the offering will depend on the company's ability to execute its business plan.
- Comparable companies in the biomanufacturing space include Amyris, Ginkgo Bioworks, and Zymergen, although Invizyne's cell-free approach is a key differentiator.
Stakeholder Impact
- Shareholders will benefit from the company's increased access to capital and potential for growth.
- Employees may see opportunities for career advancement as the company expands.
- Customers may benefit from the company's innovative biomanufacturing solutions.
- Suppliers may see increased business opportunities as the company scales its operations.
- Creditors may benefit from the company's improved financial position.
Next Steps
- Invizyne will focus on expanding its production capabilities.
- The company will expand its business development, sales, and marketing efforts.
- The company will use the proceeds to repay a related party loan.
- The company will continue to develop and commercialize its SimplePath platform.
Related Party Transactions
- The company intends to use a portion of the IPO proceeds to repay a related party loan.
Key Dates
- 2023-07-03: Simple agreements for future equity (SAFEs) were issued to MDB Capital Holdings LLC and Paul Opgenorth.
- 2024-11-08: The Registration Statement on Form S-1 relating to the IPO was declared effective by the SEC.
- 2024-11-11: The company issued a press release announcing the pricing of the offering and entered into an Underwriting Agreement with MDB Capital.
- 2024-11-13: Invizyne's common stock began trading on the Nasdaq Capital Market under the ticker symbol IZTC.
- 2024-11-14: The company consummated the IPO and issued a press release announcing the closing of the offering. SAFEs converted into common stock.
- 2024-11-18: The company filed the Form 8-K report.
Keywords
IPO, biomanufacturing, enzymes, Nasdaq, IZTC, public offering, warrants, private placement, SimplePath, MDB Capital
IZTC
Invizyne Technologies INC
NASDAQ
Sector: TBD
Filings with Classifications
Better than expected
2 July 2025 5:49 PM
Insider Trading Report
- The Chief Executive Officer's purchase of company stock indicates a vote of confidence in the company's prospects and valuation.
Better than expected
17 June 2025 5:22 PM
Insider Transaction Report
- The acquisition of additional shares by a key executive like the Vice President of Research is typically viewed as a positive signal, indicating management's confidence in the company's future performance and valuation.
Better than expected
17 June 2025 5:19 PM
Insider Transaction Report
- The acquisition of shares by a Vice President of Development is generally viewed as a positive signal, indicating management's confidence in the company's future prospects and aligning their interests with shareholders.
Worse than expected
12 May 2025 2:34 PM
Quarterly Report
- The company's net loss increased significantly compared to the same period last year.
- Operating costs rose sharply, driven by increased compensation, professional fees, and other administrative expenses.
- Cash reserves are declining, raising concerns about the company's ability to fund future operations.
Capital raise
12 May 2025 2:34 PM
Quarterly Report
- The company's auditors have raised substantial doubt about its ability to continue as a going concern due to funding shortfalls.
- The company may sell its equity securities, seek institutional and bank funding, and sell or license various of its intellectual property rights if and when it requires capital.
- The company does not have any current arrangements for additional funding, and there is no assurance that it will be able to obtain funding, when needed, on terms that are commercially reasonable.
Worse than expected
31 March 2025 4:17 PM
Annual Results
- The company incurred a net loss of \$5,861,335 in 2024, which is worse than the net loss of \$2,038,389 in 2023.
- The company has a going concern footnote in its financial statements, indicating substantial doubt about its ability to continue as a going concern.
Capital raise
31 March 2025 4:17 PM
Annual Results
- The company may need additional capital to support its growth over time.
- The company may explore future financing arrangements, including private and public offerings of securities, borrowings, spinouts, joint ventures, licensing, asset sales, and merger transactions.
- The company may also seek government research grants.
Capital raise
18 November 2024 4:45 PM
Initial Public Offering Announcement
- The company completed an initial public offering of 1,875,000 shares at $8.00 per share, raising $15 million in gross proceeds.
- A concurrent private placement of 93,750 warrants was completed at $0.125 per warrant, with an exercise price of $8.00 per share, potentially raising an additional $750,000 if fully exercised.
- The underwriter has a 45-day option to purchase an additional 281,250 shares, which could result in further capital raising if exercised.
Capital raise
12 November 2024 4:55 PM
Quarterly Report
- The company completed its IPO on November 13, 2024, selling 1,875,000 shares of Common Stock for gross proceeds of $15,000,000 and net proceeds of approximately $14,321,686.
- The company issued 93,750 warrants to the underwriter and its assignees to purchase up to 93,750 shares of Common Stock.
- The company sold 93,750 warrants to accredited investors in a concurrent private offering for gross proceeds of approximately $11,719, with potential additional proceeds of up to $750,000 if the warrants are fully exercised.
- The company issued 125,001 shares of Common Stock on the conversion of SAFEs on November 12, 2024.
Worse than expected
12 November 2024 4:55 PM
Quarterly Report
- The company's net loss of $4.03 million for the nine months ended September 30, 2024, is significantly worse than the $939,825 loss for the same period in 2023.
- The company's operating costs have increased substantially, leading to a larger net loss.
- The company's working capital deficit of $4.38 million as of September 30, 2024, is a significant deterioration compared to the $1.2 million deficit at the end of 2023.
Capital raise
21 October 2024 11:23 AM
Legal Agreement
- The exercise of the warrant would result in a capital raise for Invizyne Technologies Inc.
Capital raise
4 October 2024 5:28 PM
S-1/A Registration Statement
- Invizyne Technologies Inc. is offering 1,875,000 shares of common stock at $8.00 per share.
- The company has granted the underwriter a 45-day option to purchase up to 281,250 additional shares to cover over-allotments.
Worse than expected
4 October 2024 5:28 PM
S-1/A Registration Statement
- The company has incurred a net loss of $2,368,988 and $419,229 during the six months ended June 30, 2024 and 2023, respectively, and had cash flows from operations of $383,401 and $(363,610) for the six months ended June 30, 2024 and 2023, respectively.
- Management believes that the Companys remaining cash on hand for one year from the date the financials are issued will not be sufficient to meet its liabilities and obligations as and when they fall due through the next year without additional financial support which raises substantial doubt about the Companys ability to continue as a going concern.
Capital raise
19 September 2024 2:03 PM
S-1/A (Registration Statement Amendment)
- Invizyne Technologies Inc. is offering 3,750,000 shares of common stock at $4.00 per share in its IPO.
- Each share includes a non-transferable right to receive up to one additional share after two years if certain conditions are met.
- The estimated net proceeds of $13.3 million will be used for expansion and working capital.
Worse than expected
19 September 2024 2:03 PM
S-1/A (Registration Statement Amendment)
- The company has incurred a net loss of $2,368,988 and $419,229 during the six months ended June 30, 2024 and 2023, respectively, and had cash flows from operations of $383,401 and $(363,610) for the six months ended June 30, 2024 and 2023, respectively.
- Management believes that the Companys remaining cash on hand for one year from the date the financials are issued will not be sufficient to meet its liabilities and obligations as and when they fall due through the next year without additional financial support which raises substantial doubt about the Companys ability to continue as a going concern.
Worse than expected
6 September 2024 4:25 PM
S-1/A Amendment
- The company has a limited operating history and has incurred losses to date.
- The company anticipates needing additional funding in the future to continue developing its business plan.
- The independent accountants to the Company have issued their report with a going concern statement.
Capital raise
6 September 2024 4:25 PM
S-1/A Amendment
- The company is planning an initial public offering (IPO) of 3,750,000 shares of common stock at a price of $4.00 per share, aiming to raise $15 million.
- The offering includes a non-transferable contractual right for investors to receive up to one additional share of common stock for each share purchased, contingent on certain conditions.
- MDB Capital Holdings, LLC, the majority holder of Invizyne's common stock, is offering 8,027,538 shares in the IPO.
- The company plans to use the net proceeds from the offering to expand production capabilities, increase staff, expand business development, sales and marketing efforts, expand research and development, and add to working capital.
- The underwriter has a 45-day option to purchase up to 562,500 additional shares to cover over-allotments.
Capital raise
1 August 2024 6:11 AM
S-1/A Filing
- The company is offering 4,300,000 shares of common stock in its initial public offering.
- The proposed price is $4.00 per share.
- The company estimates net proceeds of approximately $15.3 million, or $17.7 million if the underwriter exercises its over-allotment option in full.
- The company intends to use the net proceeds from this offering (i) to expand the production capabilities of the Company, including capital expenditures, (ii) to increase our staff, (iii) to expand our business development, sales and marketing efforts, (iv) to expand our research and development and technology platform and (v) to add to our working capital.
Capital raise
22 May 2024 4:40 PM
S-1/A Amendment
- Invizyne Technologies Inc. is planning an initial public offering of 4,300,000 shares of its common stock at a price of $4.00 per share.
- The company intends to list its common stock on The Nasdaq Capital Market under the symbol IZTC.
- MDB Capital Holdings, LLC, the majority holder of Invizyne's common stock, is offering 8,027,538 shares of common stock as a selling security holder.
- Net proceeds from the offering are estimated to be approximately $15.3 million, which will be used to expand production capabilities, increase staff, expand business development, sales and marketing efforts, expand research and development, and add to working capital.
Capital raise
17 April 2024 4:07 PM
S-1/A Filing
- The company is offering 4,300,000 shares of common stock at $4.00 per share in its initial public offering.
- The company estimates that the net proceeds from this offering will be approximately $15,473,747, or $19,258,000 if the underwriter exercises its option to purchase additional shares in full.
- MDB Capital Holdings, LLC, the majority holder of the company's Common Stock, is offering 8,027,538 shares of Common Stock.
Worse than expected
17 April 2024 4:07 PM
S-1/A Filing
- The company is pre-revenue and has incurred significant losses.
- The company's auditor has issued a going concern statement.
Capital raise
14 February 2024 10:46 AM
S-1/A
- Invizyne Technologies Inc. is planning an initial public offering (IPO).
- The company intends to offer 4,300,000 shares of its common stock at a price of $4.00 per share, aiming to raise $17,200,000 before expenses.
- The company plans to use the proceeds from the IPO to expand production capabilities, increase staff, expand business development, sales, and marketing, expand the R&D and technology platform, and for working capital and other general purposes.
Worse than expected
14 February 2024 10:46 AM
S-1/A
- The company has a limited operating history and has not generated any revenues to date.
- The independent accountants to the Company have issued their report with a going concern statement.
Worse than expected
9 February 2024 4:58 PM
S-1 Filing
- The company has a limited operating history and has not generated any revenues to date.
- The company anticipates needing additional funding in the future to fully develop its business plan, with the funds from this offering expected to fund operations for 12 to 24 months.
- The company's independent accountants have issued their report with a going concern statement.
Capital raise
9 February 2024 4:58 PM
S-1 Filing
- Invizyne Technologies is offering 4,300,000 shares of common stock in its initial public offering.
- The public offering price of the Common Stock was determined through negotiation between the underwriter and us, and the offering price used throughout this prospectus may not be indicative of the price of a share of Common Stock in the market after the initial public offering.
- The underwriter will receive compensation in addition to the discounts and commissions.
- The registration statement, of which this prospectus is a part, also registers for sale warrants to purchase up to 430,000 [10%] shares of Common Stock to be issued to the underwriters, at an exercise price of 125% of the public offering price.
- We have granted a 45-day option to the underwriter to purchase up to 645,000 [15%] additional shares of Common Stock solely to cover over-allotments, if any.
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