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ipo IPO Watch

IMV Prices 14.3 M Units of Public Offering at $1.75/Unit

One common share and three-quarters of a common share purchase warrant are included in each Unit. Each Warrant authorises the holder to purchase one common share at a price of US$2.10 per common share for a period of 60 months following the closure of the Offering, subject to adjustment in certain conditions.

The Offering is scheduled to close on or around July 20, 2021, with the common shares underlying the Units and Warrants proposed for listing on the TSX and Nasdaq.

The Corporation plans to use the net proceeds of the Offering to continue clinical development of maveropepimut-S (DPX-Survivac) in DLBCL, breast cancer, ovarian cancer, bladder cancer, and microsatellite instability high (MSI-H), as well as to begin clinical development of a new product, DPX-SurMAGE, in bladder cancer, continuing to develop its patented drug delivery technology (DPX), as well as for other corporate reasons.

Company Profile

Albireo is a clinical-stage biopharmaceutical company focused on the development of novel bile acid modulators to treat rare pediatric and adult liver diseases, and other adult liver diseases and disorders. We have deep expertise in bile acid biology and a pipeline of clinical and nonclinical programs. Our parent company, Albireo Pharma, Inc., is located in Boston, Massachusetts and our key operating subsidiary, Albireo AB, is located in Gothenburg, Sweden. We were spun out from AstraZeneca in 2008.

(Source:  RTT News)

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Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

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Currencies Trading Ideas & Charts

Increasing pressure on the Australian dollar

The RBNZ said on 14/09 that it will abruptly cease its quantitative easing programme, prompting many economists to push back their forecasted NZ rate hike to August. The next gathering of the bank is set for August 18.

The Australian currency plummeted against the New Zealand dollar as a result of the announcement, with the Reserve Bank of Australia’s (RBA) own guidance indicating that rates will not be raised until 2024. Bank bill futures, on the other hand, suggest that the RBA will begin tightening in late 2022.

Australian dollar has been sliding in recent weeks

Following the June labour force report, which showed the unemployment rate fell to a decade-low 4.9 percent, the Australian dollar continued its downward trend on Thursday, falling 0.3 percent to US74.61. The Australian dollar has been sliding in recent weeks, falling over 3.5 percent in just the previous month.

Despite exceeding economists’ estimates, the robust jobs data failed to halt the downward trend. The labour survey came before Sydney’s draconian limitations and the imposition of a fifth lockdown for Victorians to control a new outbreak, so most investors ignored the news.

Experts Comments

“As the leader of the hiking bloc, money should just pile into the Kiwi,” said Westpac senior currency strategist Sean Callow. “The Australian will not gain much with the Kiwi, and we expect the cross rate to break substantially lower.”

“The market is now more worried about the consequences of the NSW lockdown on future months’ numbers,” said Ray Attrill, head of FX strategy at NAB. “GDP might be negative in the third quarter, which would support the RBA’s assertion that it is playing the long game.”

Source: afr

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Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

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Currencies Trading Ideas & Charts

AUD/USD last Week Price Prediction – The Australian Dollar Remains Very Weak

Paper currency. Australian money.

The Australian dollar has struggled last week, as we have been unable to breach above the 0.75 handle. However, if Australia continues to tighten its grip on the market, it will be intriguing to monitor.

The lockdown has already stretched from Sydney to Melbourne, and given enough time, the Australians will find a cause to lock down the rest of the country. At this moment, I believe the Australian dollar is poised to decline to 0.70, particularly if we can breach below the 0.74 mark.

If we wear down below that level, I believe the bearish trend will ramp up, and the scenario will indeed be more or less a danger event. The US Currency Index keeps threatening a breakout to the higher, indicating that the US dollar is gaining traction.

This would be fascinating to see if this plays out, because we are presently on the verge of a breakdown, and at that time, I would not only continue to be short the Australian dollar, but I would also be looking for ways to add to my position.

Source: fxempire

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Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

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Currencies Trading Ideas & Charts

The crypto market is feeling the blues as GBTC shares become available

Bitcoin, despite its decline, continued to gain dominance

Despite its decrease, Bitcoin (BTC) maintained its dominance this week, accounting for 46.3 percent of market value, a concerning indicator for big altcoins. While Bitcoin (BTC) lost 6% this week, big altcoins lost even more. With an 11 percent decrease this week, Ethereum (ETH) has fallen below $2,000 and is already challenging important support at $1,800.

Polkadot (DOT), Dogecoin (DOGE), Uniswap (UNI), Solana (SOL), and Polygon (MATIC) are among the most popular cryptocurrencies, all of which are down by more than 20%. The current state of the market is one of indecision and inactivity. The trading activity on major cryptocurrency exchanges remained relatively modest, indicating investors’ cautious attitude.

Bank of America allowed some of its clients to trade BTC

The Grayscale Bitcoin Trust (GBTC) will release 16,240 BTC worth of shares on July 18. The announcement could cause Bitcoin values to fluctuate in either direction as investors adopt a wait-and-see attitude. Bank of America, the second largest bank in the United States, has apparently allowed some of its clients to trade BTC futures. Argentina was said to be introducing a measure earlier this week that would allow workers to take Bitcoin as payment.

France has advocated for an EU-wide cryptocurrency regulation that would give the European Securities and Markets Authority (ESMA) in Paris more power and control over the region’s booming crypto industry.

Paypal and Visa, for example, have decided to maintain Bitcoin and other cryptocurrencies. Paypal has stated that its clients will now be allowed to buy crypto for up to $100,000 every week, a five-fold boost in buying limitations. After reporting crypto-linked card usage of $1 billion or more in the first half of 2021, Visa released a new version of a physical Bitcoin Debit card in Australia.

Source: economictimes

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Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

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Currencies Trading Ideas & Charts

Why is Square entering the Bitcoin custodial industry, decrypting crypto trends?

Many people were not surprised by Square’s decision to enter the digital asset custody and service business. In June, at the Bitcoin 2021 Conference in Miami, Jack was at his eloquent best, revealing that Square was playing with the notion of a hardware wallet.

Square’s recent move is dissected

The global digital asset management (DAM) market is expected to expand at a compound annual growth rate (CAGR) of 12 percent from $3.4 billion in 2020 to $6.0 billion in 2025. Institutional institutions like Morgan Stanley and Goldman Sachs, as well as corporations, have recognised the digital currency space’s growth potential.

Secure custody alternatives for managing and using digital assets are in high demand around the world. Square’s desire to be a force to be reckoned with in this arena is self-evident.Wallets for digital currencies are used to receive, send, and store them. Hardware cryptocurrency wallets, also known as “Cold Wallets,” are more secure than “Hot Wallets” like desktop and smartphone wallets. Asset security has been raised by all market players, including retail and institutional investors.

Hardware Wallets’ Security

Hardware wallets have been known to be hacked in the past. Ledger, a Bitcoin hardware wallet supplier, was hacked in July of last year. More than 1 million user accounts were hacked. To establish itself as a strong and trustworthy player in the custody service space, Square would have to solve concerns about wallet security.

Source: Economic times

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Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

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Currencies Trading Ideas & Charts

Price of the Australian dollar against the Japanese yen remains pressed towards the 200-day moving average (DMA)

In a quiet Asian trading session on Monday, the AUD/JPY remains under pressure around 81.45. As a result, the cross-currency pair has failed to maintain Friday’s rally off the monthly low while remaining below a downward sloping trend line that has been in place since June 25. The MACD signs are also in favour of the selling.

However, the pair’s potential decline is hampered by an oversold RSI and proximity to the major moving average. For the time being, AUD/JPY trades are aimed at 200-DMA support near 81.20, followed by the 81.00 level. However, the pair’s further decline could be challenged by January’s high near 80.90.

The 50 percent Fibonacci retracement of the September 2020 to May 2021 upside, near 79.50, will be the key to watch if the bears keep the reins below 80.90. In the meantime, any correct pullback will be deemed mild unless it stays below a short-term resistance line near 82.30.

Following that, the bulls may be enticed by the recent swing high near 82.80 and April’s low near the 83.00 round figure.

Source: fxstreet

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Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

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IPO Watch

The Fresh Market Files for an IPO Price estimated at $250 Million

In March 2011, the company went public, raising $290 million, before being acquired and taken private by Apollo Global Management for $1.4 billion in 2016.

On March 12, 2021, The Fresh Market filed a confidential filing. The deal’s joint book runners are Credit Suisse, BofA Securities, Barclays, Deutsche Bank, RBC Capital Markets, BMO Capital Markets, Guggenheim Securities, and Apollo Global Securities. There were no pricing details provided.

Company Profile

The Fresh Market offers high-quality, fresh goods and hard-to-find items in a small, intimate store with great cleanliness and high-touch guest care. It is an Apollo-backed fresh food supermarket with over 150 locations in 22 states.

(Source: NASDAQ.com)

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IPO Watch

EVmo a ridesharing rental service to raise IPO to $12 Million

The Beverly Hills, California-based company was created in 2016 and has revenue of $8 million for the year ending March 31, 2021. It intends to trade under the symbol “EVMO” on the NASDAQ. The deal’s sole book runner is Think Equity. There were no pricing details provided.

Company Profile

EVmo, Inc. connects rideshare drivers in need of a suitable car with rideshare firms that rely on attracting and retaining drivers. It operates primarily in Rideshare Car Rentals and Distinct Cars, two wholly-owned subsidiaries. Rideshare has an online reservation system. Customers who are drivers in the ridesharing and delivery gig industries can rent a fleet of passenger vehicles and transit vans for usage in the last-mile logistical space from Distinct Cars, which also provides them with insurance coverage and issues them insurance cards in their own names.

(Source: NASDAQ)

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IPO Watch

B2B software SPAC Bannix Acquisition cuts deal size by 50% ahead of $50 million IPO

One share of common stock, one right to earn one-tenth of a share upon completion of an initial business combination, and one warrant, exercisable at $11.50, are included in each unit.

Bannix Acquisition will raise -50% less money under the new deal size than it had planned.

Company Profile

Bannix Acquisition Corp. is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. We intend to focus on B2B enterprise software companies, particularly those operating in the Customer Engagement space within the telecom, retail and financial services sectors. We will target businesses located in North America and Western Europe, ideally those with a recurring revenue model and an overall transaction value of at least $400 million.

(Source: NASDAQ.com)

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Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

Categories
ipo IPO Watch

Terms out for Clarity’s $358 million IPO

Oncology imaging technologies and medicines are the focus of Clarity. It’s working on Targeted Copper Theranostic (TCT) products, which allow copper to be utilised in the diagnosis and treatment of malignancies like prostate and breast cancer, as well as uncommon and orphan diseases like neuroblastoma, which arises from immature nerve cells in children.

It will undoubtedly be compared to Telix, the only other publicly traded radiopharmaceutical business, which has gained 38.4% year to date and has a market capitalization of $1.6 billion.

Clarity is chaired by Alan Taylor, a former Inteq consultant who handled a number of Australian listings, and is run by Colin Biggin, a former Algeta executive. Major supporters such as Australian Unity and Sydney-based investment manager Firetrail Investments joined KKR-backed GenesisCare in a $25 million pre-IPO funding round last year.

Company Profile

Clarity is a clinical stage radiopharmaceutical company developing next-generation theranostic (therapy and imaging) products, based on its platform SAR Technology. The SAR Technology is ideally suited for use with copper isotopes, enabling superior imaging and therapeutic characteristics of radiopharmaceutical products and addressing the current manufacturing and logistical limitations in the growth of the radiopharmaceutical sector in oncology.

(Source: AFR News)

General Advice Warning

Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.