Newsmax (NMAX) began trading on the NYSE on Mon 31 March 25

(Bloomberg) — Newsmax Inc.’s (NMAX) debut as a public company has given founder and Chief Executive Officer Christopher Ruddy a fortune of about $3.3 billion after its shares surged 735%.

Sector: Communication Services

Industry: Broadcasting

Full Time Employees: 400

https://invest.newsmax.com

Ticker: NMAX

The conservative cable news network sold $75 million of shares at $10 each in Monday’s initial public offering. The stock closed at $83.51 after repeated trading pauses due to volatility.

Ruddy’s 39.2 million class A shares, owned through a revocable trust, have 10 votes each, giving him control of 81% of the company’s votes. He didn’t sell any shares in the New York Stock Exchange offering.

Other investors include Interactive Brokers Group Inc. founder Thomas Peterffy, who owns 23 million shares worth $1.9 billion through Conyers Investments LLC; Sheikh Sultan bin Jassim Al-Thani, a Qatari royal whose investment firm, Heritage Advisors, owns 19.7 million shares; and Vadim Shulman, a Ukrainian industrialist.

Newsmax’s share price gives the company a market value of more than $10.7 billion. The Boca Raton, Florida-based firm lost $72 million last year on revenue of about $171 million. Fox Corp., which is worth almost $25 billion and operates competing network Fox News, reported net income of $2.4 billion on $6.5 billion of revenue in the same period.

Rupert Murdoch, who is chairman emeritus of Fox Corp., is worth $15.2 billion, according to the Bloomberg Billionaires Index.

ADMA Biologics (ADMA)

ADMA Biologics makes human-derived immunoglobulin. Its products treat people whose bodies don't make enough antibodies to ward off illnesses from common viruses. Instead of risking illness, people with primary immunodeficiency receive regular infusions of ADMA's drugs.

• Sector: Healthcare
• Industry: Biotechnology
• Full Time Employees: 685
• Founded by Adam S. Grossman and Jerrold B. Grossman in 2004  
• Headquartered in Ramsey, New Jersey
• https://www.admabiologics.com/

IPO: October 17, 2013

ADMA Biologics, Inc. operates as a biopharmaceutical company, which is engaged in manufacturing, marketing, and developing specialty plasma-derived biologics. The firm operates through the following business segments: ADMA BioManufacturing, Plasma Collection Center, and Corporate. The ADMA BioManufacturing segment consists of immune globulin manufacturing and development operations. The Plasma Collection Center consists of source plasma collection facilities. The Corporate segment includes general and administrative overhead expenses. 

ADMA's biggest moneymaker, Asceniv. 

ADMA Biologics developed Asceniv in-house. It's a cocktail created from super donors whose plasma has a high level of antibodies capable of handling respiratory syncytial virus, or RSV. RSV leads to cold symptoms in most people, but it can be serious in people with compromised immune systems.

Last year, Asceniv generated $216.7 million in sales. This year, it's expected to bring in $283 million, growing almost 31%. Earnings are also promising. In 2024, ADMA Biologics earned 49 cents per share, flipping from no earnings in the year-earlier period. This year, it's expected to notch a 71-cent profit, up 45%.

Asceniv accounts for slightly more than half of ADMA's total sales. The company also sells Bivigam and Nabi-HB, two products it acquired. Bivigam provides various antibodies found in a healthy immune system, while Nabi-HB protects against hepatitis B in people who've been exposed.

 

eToro Group (NASDAQ: ETOR) has filed for a proposed IPO

Digital investment platform eToro filed for an initial public offering, saying it applied to list on the Nasdaq Global Select Market under the symbol ETOR.

• eToro’s net income grew to $192.4 million, compared with $15.3 million a year ago.

• The company, founded in 2007, provides trading and an investment platform to its customers.

The company said Monday its platform allows users to trade equities, currencies and commodities. The platform also allows users to trade crypto assets, with the company's co-founder and chief executive, Yoni Assia, saying the platform has helped millions of investors access the asset class in a safe way.

Spark Capital II, BRM Group, Andalusian SPV III, SBT Venture Fund I and CM SPC are listed among the company's principal shareholders.

Earlier this month, the company said it recently completed a $250 million funding round at a valuation of $3.5 billion. Investors in the funding round included ION Group and SoftBank Vision Fund 2, the company said.

EToro didn't provide an expected size for its IPO, nor did it offer an expected price range.

The company was founded in 2007 and said as of Dec. 31, 2024, it had about 3.5 million funded accounts.

IPOs this week : March 24 - 28, 25 (wk 13)

CoreWeave – Livingston, N.J., 49 million shares, priced at $47-$55, managed by Morgan Stanley JP Morgan. Proposed Nasdaq symbol CRWV. Business: Provides cloud computing services with data centers optimized for AI workloads.

OMS Energy Technologies – Singapore, 5.6 million shares, priced at $8-$10, managed by Roth Cap.. Proposed Nasdaq symbol OMSE. Business: Singapore-based manufacturer of surface wellhead systems and oil country tubular goods.

Bgin Blockchain – Singapore, 6.3 million shares, priced at $7-$9, managed by Chardan Benchmark. Proposed Nasdaq symbol BGIN. Business: Makes equipment for cryptocurrency mining with a focus on alternative currencies.

Apimeds Pharmaceuticals – Hopewell, N.J., 4.5 million shares, priced at $4-$5, managed by D. Boral Capital. Proposed NYSE American symbol APUS. Business: Clinical stage biotech developing bee venom-based treatment for inflammation.

Vantage – Singapore, 3.3 million shares, priced at $4-$5, managed by Network 1. Proposed NYSE American symbol VNTG. Business: Singapore-based shipbroking company focused on petroleum products.

FatPipe – Salt Lake City, .7 million shares, priced at $5.75-$7.75, managed by D. Boral Capital. Proposed Nasdaq symbol FATN. Business: Provides network software solutions for enterprises.

StubHub files for IPO

StubHub filed filed its initial public offering on Friday, revealing in the paperwork that revenues for 2024 jumped to $1.7 billion in 2024, a 30% increase over 2023 earnings.

The secondary market concert ticket vendor shares will be traded on the stock market under the ticket symbol STUB.

The company said in its filing that more than 40 million tickets were sold through StubHub in 2024, with transactions in 200 countries and territories involving more than 1 million sellers.

Nevertheless, StubHub reported a loss of $2.8 million for the year, quite a drop from the 405 million in profit it reported for 2023. Though according to the filing this is related to a rise in operational and sales and marketing expenses, extinguishment of debt, and related costs relative to 2023.

The company had planned to go public last year but withdrew in July.

The company launched in 2000 and for 13 years was a subsidiary of eBay, which acquired it in 2007 for $310 million. StubHub c0-founder Eric Baker bought the company back in 2020 in a $4 billion deal through his new company Viagogo.

European Wax Center (EWCZ) : 4-year performance

European Wax Center, Inc. operates as the franchisor and operator of out-of-home waxing services in the United States. It offers body and facial waxing services; and pre- and post-service products, including ingrown hair serums, exfoliating gels, brow shapers, and skin treatments, as well as skincare retail products. 

Q1 2025: 1,067 centers in 45 states.

• Sector: Consumer Defensive
• Industry: Household & Personal Products
• Full Time Employees: 124
• Founded in 2004 
• Headquartered in Plano, Texas
• https://waxcenter.com

IPO: August 5, 2021

Ticker: EWCZ

 

Ocugen (OCGN) : 10-year performance

Sector: Healthcare

Industry: Biotechnology

Founded: 2013

Headquarters: Malvern, Pennsylvania

Website: https://www.ocugen.com

Employees: 95

IPO: December 3, 2014

Ticker: OCGN

September 30, 2019: Ocugen (OCGN) completed a reverse merger with Histogenics (Nasdaq: HSGX), creating a company focused on developing therapies for ocular diseases, operating under the Ocugen name.

Buy now, pay later lender Klarna files for U.S. IPO

• Klarna filed its IPO prospectus on Friday and plans to go public on the New York Stock Exchange under ticker symbol KLAR.
• Klarna’s top competitors include Affirm and Afterpay, which is owned by Block.
• Block, Affirm and PayPal are each bolstering their portfolios of financial products, including debit, lending and payment offerings, as they try to capture more consumer attention and spending.

Klarna, headquartered in Sweden, hasn’t yet disclosed the number of shares to be offered or the expected price range.

The decision to go public in the U.S. deals a significant blow to European stock exchanges, which have struggled to retain homegrown tech companies. Klarna CEO Sebastian Siemiatkowski had hinted for years that a U.S. listing was more likely, citing better visibility and regulatory advantages.

Klarna is continuing to rebuild after a dramatic downturn. Once a pandemic-era darling valued at $46 billion in a SoftBank-led funding round, Klarna saw its valuation slashed by 85% in 2022, plummeting to $6.7 billion in its most recent primary fundraising. However, analysts now estimate the company’s valuation in the $15 billion range, bolstered by its return to profitability in 2023.

Revenue last year increased 24% to $2.8 billion. The company’s operating loss was $121 million for the year, and adjusted operating profit was $181 million, swinging from a loss of $49 million a year earlier.

Klarna is the latest upstart to file for a U.S. IPO as tech companies look to hit the public market following a historically slow stretch for new offerings. Earlier this month, CoreWeave, a provider of cloud-based Nvidia processors to companies including Meta and Microsoft, filed its prospectus.

Cloud software vendor ServiceTitan hit the market in December, marking the first significant venture-backed tech IPO since Rubrik’s

 debut in April. A month before that, Reddit

 started trading on the NYSE. There haven’t been many other tech IPOs of note in the U.S. since late 2021, when rising interest rates and soaring inflation pushed investors out of risky assets.

MeiraGTx (MGTX) $200M deal with Hologen AI for Parkinson's therapy

 

 

 

 

 

 

IPO: June 8, 2018

Hologen AI commits up to $430M to help take MeiraGTx's Parkinson's gene therapy through phase 3 and beyond

MeiraGTx will partner with Hologen AI to leverage its multimodal generative AI (genAI) models to accelerate Phase III development of the biotech's AAV-GAD gene therapy for Parkinson’s disease. 

The therapy, dubbed AAV-GAD, delivers a gene that codes for the enzyme that makes the neurotransmitter GABA, which is implicated in the characteristic motor dysfunction of Parkinson’s. A small-scale phase 2 readout last October showed that AAV-GAD was able to improve patients' motor ability and quality of life.

Details of the agreement 

MeiraGTx will receive an upfront cash payment of $200 million from Hologen, and together, the partners will launch a joint venture called Hologen Neuro AI. The genAI firm will also contribute $230 million in funding for the JV, which will shepherd AAV-GAD through development to commercialisation. The capital will help support other early-stage clinical programmes targeting the central nervous system (CNS), such as AAV-BDNF for genetic obesity. 

MeiraGTx will retain 30% ownership in Hologen Neuro AI and take the lead on all clinical development and manufacturing. It will form exclusive clinical and commercial manufacturing supply agreements with the JV. 

In turn, Hologen will use its genAI tech to optimise MeiraGTx's manufacturing practices, while gaining a minority stake in the manufacturing subsidiary and contributing to annual funding. 

About Hologen 

Hologen Limited is a world-leading developer of generative AI capabilities for clinical medicine and pharmaceutical drug development. 

The company emerged as a spin-out from University College London and Kings College London. It is privately held.

For more information, please visit www.hologen.ai

Regencell Bioscience (RGC) : 4-year performance

Regencell Bioscience Holdings Ltd. engages in the research, development, and commercialization of traditional Chinese medicine. It seeks the treatment of neurocognitive disorders and degeneration, specifically attention deficit hyperactivity disorder and autism spectrum disorder. 

• Sector: Healthcare
• Industry: Drug Manufacturers - Specialty & Generic
• Full Time Employees: 12
• Incorporated in 2014 
• Headquartered in Causeway Bay, Hong Kong
• https://www.regencellbioscience.com

IPO: July 16, 2021

 

 

Newsmax files for IPO, plans to list on NYSE

Newsmax Inc announces the launch of its initial public offering, inviting investors nationwide to become shareholders in its television and digital media platforms. 

 

Last week the company’s Offering Statement was qualified by the Securities and Exchange Commission. Newsmax is looking to raise up to $75 million with a planned March 31, 2025 listing on the New York Stock Exchange under the ticker symbol NMAX, subject to NYSE approval. 

This IPO comes shortly after it completed a private Preferred Offering in February raising $225 million. Newsmax CEO Christopher Ruddy says, “Our success with our Preferred raise shows the enormous support our company has as we made thousands of Americans part owners in Newsmax. Now, the initial public offering opens the door for tens of thousands more to join our news revolution and be a part of the first ever company to complete a crowd financed offering on to the main board of the NYSE.”

===Net Power (NPWR) reported earnings on Mon 10 March 25 (b/o)

NET Power Inc. operates as a clean energy technology company. The company invents, develops, and licenses clean power generation technology.   

Sector: Industrials

Industry: Specialty Industrial Machinery

Full Time Employees: 43

Founded in 2010 

Headquartered in Durham, North Carolina

https://www.netpower.com

IPO: Jun 9, 2023 via merger with special purpose acquisition company (SPAC) Rice Acquisition Corp II (RAC II).

indie Semiconductor (INDI) : 3-year performance

indie Semiconductor, Inc. provides automotive semiconductors and software solutions for advanced driver assistance systems, driver automation, in-cabin, connected car, and electrification applications. 

Sector: Technology

• Industry: Semiconductor Equipment & Materials
• Full Time Employees: 920
• Founded in 2007 
• Headquartered in Aliso Viejo, California
• https://www.indie.inc

IPO: June 10, 2021, via business combination with Thunder Bridge Acquisition II, Ltd. (Nasdaq: THBR)