BLTE News

US IPO Market Posts Its Slowest 2Q Since the Great Recession Just 21 IPOs raised $2.1 billion in the US IPO market’s slowest second quarter since 2009. Issuance was sluggish from the start and pulled back further in late May, as recession fears were heightened by record inflation...read more

Four IPOs raised $266 million this week, headlined by norovirus vaccine developer HilleVax (HLVX). The other three deals were micro-caps, an area of the IPO market that continues to see rapid price swings thanks to interest from momentum traders. Three SPACs also raised a combined $245 million, targeting Asian fintech, sustainable energy, and technology. The...read more

Belite Bio, a Phase 3 biotech developing an oral therapy for retinal degeneration diseases, raised $36 million by offering 6 million ADSs at $6, the midpoint of the range of $5.50 to $6.50. Parent Lin BioScience agreed to purchase $15 million worth of ADSs in the offering (42% of the deal). Belite is developing novel therapies for untreatable eye diseases involving retinal...read more

Updated Monday, 4/25. The April IPO market is expected to close out with norovirus vaccine developer HilleVax (HLVX), along with two healthcare micro-caps. Other small deals and SPACs may join the calendar during the week. HilleVax (HLVX) plans to raise $175 million at a $625 million market cap. Formed through the collaboration...read more