With the start of a new week comes the excitement surrounding a new set of companies looking to make an impact through their public offerings. According to Benzinga Pro, these enticing companies are scheduled to trade publicly this week.
- 60 Degrees Pharmaceuticals, Inc (NASDAQ:SXTP) becomes publicly listed starting on June 1, 2023. The company has a price range set between $4.30 and $6.30 with a 180-day lockup period. 60 Degrees Pharmaceuticals, Inc will be offering 1,415,000 shares at a per-share value of $5.30.
Understanding IPOs
An initial public offering, or IPO, is the transitional process of a private company deciding to go public and offer shares to investors on an exchange. Typically, IPOs offer companies the ability to build capital. Before a company becomes publicly listed, it must meet SEC requirements and work with investment banks through audits to determine pricing, offering date, and other important data points before the offering.
Companies and investment banks will work to establish a price range that the stock is expected to sell between. This is known as an offering range. Once a company goes public, its stock comes with an opening price. The insider lock-up period is usually a set number of days after an IPO where company insiders, or employees with a 10% or higher stake in their company, cannot sell shares.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
