IZTC
Invizyne Technologies INC
NASDAQ
S-1: Invizyne Technologies Files for IPO, Aiming to Revolutionize Biomanufacturing
Sentiment:
S-1 Filing
9 February 2024 4:58 PM
Invizyne Technologies, a biomanufacturing company, has filed an S-1 registration statement for an initial public offering (IPO) to advance its SimplePath platform and revolutionize the production of chemicals.
Worse than expected
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
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.
Summary
- Invizyne Technologies has filed an S-1 registration statement for an IPO.
- The company aims to redefine biomanufacturing using its SimplePath platform, which leverages cell-free, multi-step enzyme-based systems.
- Invizyne intends to offer 4,300,000 shares of common stock at an estimated price of $4.00 per share, seeking to raise approximately $17.2 million.
- The company's SimplePath platform is presented as an alternative to chemical synthesis, natural extraction, and synthetic biology for producing chemicals.
- Invizyne has focused its efforts on two platform areas: cannabinoids and biofuels.
- The company has received $12,739,318 in grants to date from government and non-government sources.
- MDB Capital Holdings, LLC, the majority holder of Invizyne's Common Stock, beneficially holds 8,277,851 shares, representing 62.89% of the outstanding shares prior to the offering.
- Public Ventures, LLC, a wholly-owned subsidiary of MDB, is acting as the underwriter for the IPO, creating a conflict of interest that necessitates a qualified independent underwriter, Digital Offering LLC.
- The company intends to apply to list its Common Stock on The Nasdaq Capital Market under the symbol IZTC.
- Invizyne acknowledges it is an emerging growth company and will take advantage of reduced disclosure obligations.
- 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.
Sentiment
Score: 5
Explanation: The document presents a mixed sentiment. While it highlights the potential of Invizyne's technology and its commitment to innovation, it also acknowledges the company's limited operating history, lack of revenue, and the need for additional funding. The going concern statement from the independent accountants further tempers the positive aspects.
Positives
- The SimplePath platform has the potential to revolutionize biomanufacturing and offer a sustainable alternative to traditional methods.
- The company has secured substantial US government grants, particularly from the Department of Energy (DOE) and the National Institutes of Health (NIH).
- The company has a strong intellectual property portfolio, including patents and patent applications.
- The company is targeting high-growth markets such as cannabinoids and biofuels.
Negatives
- 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.
- The IPO is underwritten by Public Ventures, LLC, a subsidiary of MDB Capital Holdings, LLC, creating a conflict of interest.
- The company is highly dependent on retaining its scientific staff and being able to hire additional scientific and related managerial staff.
- The company does not have any sales, marketing, manufacturing and distribution capabilities or arrangements, and will need to create these as it moves towards commercialization of its products.
Risks
- 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.
- The synthetic biological platform being developed by the Company may not be able to develop a pipeline of commercial products, and commercial products may not be adopted by clients in the intended markets due to the novelty and complexity of the technologies involved.
- The company does not have any sales, marketing, manufacturing and distribution capabilities or arrangements, and will need to create these as it moves towards commercialization of its products.
- There may be regulatory hurdles that will have to be satisfied before the bio-synthesized compounds, which are the end products of the platform, can be marketed and commercially used.
- The company is highly dependent on retaining its scientific staff and being able to hire additional scientific and related managerial staff.
- Although the company has successfully achieved the production of products in the laboratory, conditions in the laboratory setting may not be reproduced in a commercial setting.
- The company's systems rely on the need for purified enzymes and co-factors for the conversions of input feedstock into final products.
- Currently, the company's business is highly dependent on a small number of products, which are based on its principal technology.
- Collaborations of various sorts, by our partner companies, such as with respect to research, testing, manufacturing and distribution, will be important to our business.
- There is extensive competition that the company will face from legacy processes and other companies seeking to use bio-manufacturing and enzyme pathways to develop products alternative to traditional chemicals and petroleum based products.
- If the company is unable to protect the intellectual property used in its technology platform and products, others may be able to copy our innovations which may impair our ability to compete effectively in our markets.
- The company will incur increased costs as a result of operating as a public company, and our board of directors will be required to devote substantial time to oversight of new compliance requirements and corporate governance practices.
- The company is an emerging growth company under the JOBS Act and we cannot be certain if the reduced disclosure requirements applicable to emerging growth companies will make our Common Stock less attractive to investors.
- Certain recent initial public offerings of companies with relatively small public floats have experienced extreme volatility that was seemingly unrelated to the underlying performance of the company.
- Concentration of ownership among our existing executive officers, directors and significant stockholders may prevent new investors from influencing significant corporate decisions.
- The price of the company's Common Stock may have little or no relationship to the historical sales price of our capital stock in our private placement transactions to date.
- The company's failure to meet the continued listing requirements of Nasdaq could result in a delisting of our Common Stock.
- The company may allocate the net proceeds from this offering in ways that differ from the estimates discussed in the section titled Use of Proceeds and with which you may not agree, and if we do not use those proceeds effectively your investment could be harmed.
- You will experience immediate dilution in the book value per share of the Common Stock you purchase.
Future Outlook
The company plans to use the net proceeds from the IPO to expand production capabilities, increase staff, expand business development, sales, and marketing, expand the R&D and technology platform, for working capital and other general purposes, to pay commissions, IPO fees, and debt repayment.
Industry Context
The document highlights the growing biobased industry and the shift towards sustainable chemical production. It positions Invizyne's SimplePath platform as a potential solution to the limitations of traditional chemical synthesis, natural extraction, and synthetic biology.
Comparison to Industry Standards
- The document mentions competitors like Debut Biotech and Solugen Inc. in the cell-free enzymatic systems space, but notes their processes appear to use simple one to two step pathways.
- Codexis, Inc. is mentioned for its partnership with Tate&Lyle and Merck & Co., Inc. on different, highly specific projects that use multi enzyme pathways, which demonstrate that enzymatic Islatravir synthesis does illustrate the potential for complex or longer enzyme cascades but their principal mission diverges from the enzymatic manufacturing of more general chemicals.
- The document also acknowledges competition from companies focusing on enzyme engineering, such as Codexis, Inc., Allozymes Pte Ltd. (Singapore), Enzymit Ltd. (Israel and US), Zymtronix Catalytic Systems, Inc., Arzeda Corp. and Quantumzyme LLP (India).
- In the biofuels sector, the document notes competition from companies like Valero Energy Corporation, ADM Corporation and Cargill Company and Gevo, Inc. and Butamax Advanced Biofuels LLC that focus on ethanol technologies.
- The document claims that SimplePath for isobutanol outperforms the Synbio solution of using engineered yeast cells by at least 2-fold, and titers by over 2.5-fold, based on current knowledge.
- The document also claims that SimplePath for isobutanol can ultimately produce isobutanol at greater than 3-fold the rate and nearly double the concentration of conventional ethanol processes, with greater than 95% yield.
Stakeholder Impact
- Shareholders will experience immediate dilution in the book value per share of the Common Stock they purchase.
- Employees may benefit from the company's growth and expansion plans, including potential hiring and increased compensation.
- Customers may benefit from the company's innovative biomanufacturing platform and its potential to produce sustainable, high-quality chemical products.
- Suppliers may benefit from increased demand for raw materials and services as the company expands its operations.
- Creditors may be impacted by the company's financial performance and its ability to repay its debts.
Next Steps
- The company intends to apply to list its Common Stock on The Nasdaq Capital Market under the symbol IZTC.
- The company plans to use the net proceeds from the IPO to expand production capabilities, increase staff, expand business development, sales, and marketing, expand the R&D and technology platform, for working capital and other general purposes, to pay commissions, IPO fees, and debt repayment.
Legal Proceedings
- The company is not currently subject to any material legal proceedings.
Related Party Transactions
- During 2023, MDB Capital Holdings, LLC provided the financial services of its chief financial officer to the Company.
- The value of these services was determined to be $95,000, which was charged to operations.
- The amount remains unpaid as of September 30, 2023.
Key Dates
- 2019-04-17: Date of initial funding agreement with MDB Capital Holdings, LLC.
- 2019: Invizyne Technologies Inc. was founded.
- 2023-07-03: Date of SAFE agreements with MDB Capital Holdings LLC and Paul Opgenorth.
- 2024-02-01: Michael Heltzen appointed Chief Executive Officer.
- 2024-02-07: Stock dividend declared at the rate of 1.0775673 shares for each issued and outstanding share of Common Stock.
- 2024-02-09: Date of prospectus.
Keywords
biomanufacturing, SimplePath, IPO, cannabinoids, biofuels, enzymes, synthetic biology, MDB Capital Holdings, Public Ventures, emerging growth company
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.
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.
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
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.
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
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.
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.
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.
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.
Disclaimer: This summary was generated by artificial intelligence and its accuracy is not guaranteed. The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.