Here are some of the IPOs broadly scheduled for the coming week:
Lucy Scientific discovery
This company will be included in the NASDAQ Index with an offering of 2 million common shares under the ticker symbol LSDI. The company estimates that the price will be around $4 per share.
What is Lucy Scientific Discovery?
Lucy Scientific Discovery is into psychiatric drugs. This is a category that includes everything from alcohol, caffeine, and nicotine to marijuana, LSD, cocaine, and amphetamines.
The Company is an early-stage mental health contract manufacturing company focused on becoming the premier contract research, development and manufacturing company for the emerging mental health drug industry.
The Company holds a controlled drug and substance dealer license under Part J of the Food and Drug Regulations enacted under the Food and Drugs Act (Canada). The distributor license authorizes the company to manufacture, assemble, sell, provide, transport, ship, deliver, import or export certain pharmaceutical grade active pharmaceutical ingredients used in Controlled Substances and their raw material precursors.
Pending further approvals by Health Canada, the company’s mission is to make its products and research services available to customers for the development of drugs and investigational therapies for the treatment of certain psychiatric disorders and other medical needs.
The company has not yet generated any income. However, it has a 25,000 square foot facility near Victoria, British Columbia for research, development and large-scale production of high quality biological raw materials, APIs and finished biopharmaceutical products.
Who is Leading LSDI’s IPO?
WestPark Capital manages the listing of Lucy Scientific Discovery.
LSDI IPO Use of Proceeds
Lucy Scientific Discovery’s prospectus states that the primary purpose of this offering is to raise additional capital to fund research and development, create a public market for its common stock, and facilitate future access to the public stock markets.
The company says it will use the net proceeds from this offering as follows:
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Approximately $0.3 million to repay debt.
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Approximately $2.2 million to complete expansion and certain upgrades to manufacturing and research facilities.
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$1.5 million to settle certain outstanding debt.
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The remainder for working capital and other general corporate purposes, including the additional costs associated with being a public company.
QuantaSing Group
This company joins the NASDAQ under the ticker symbol QSG with a listing of 3,250,000 American Depositary Shares. The company expects the IPO price per ADS to be between $11.50 and $13.50.
What is the QuantaSing group?
Education and development is the name of the game for QuantaSing.
The company claims to be the largest online learning service provider in the China adult education market for courses of personal interest and one of the top five service providers in the overall adult education market in China by revenue in 2021.
QuantaSing aims to provide easy-to-understand, affordable and accessible online courses for adult learners under different brands. The subject of these courses is, among other things, financial literacy, although the company has recognized this as a special opportunity due to the lack of personal financial skills and awareness in the Chinese population.
As of November 30, 2022, the Company had approximately 75.1 million registered users, a fourfold increase from 17.0 million as of June 30, 2021. For the fiscal year ended June 30, 2022, the Company had attracted approximately 1.1 million paying learners, an increase of 37.5% from 0.8 million for the fiscal year ended June 30, 2021.
Looking to the future, the company intends to pursue the following goals:
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User base growth and learner engagement.
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Enrichment of the course offer with proven demand.
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Development of business services to achieve greater synergies.
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Investment in technology and data analysis.
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Attract and nurture talent.
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Expand overseas and pursue strategic partnerships.
Who is leading QSG’s IPO?
The listing is led by Tiger Brokers, CICC and Citigroup.
QSG IPO Use of Proceeds
The Company plans to use the proceeds as follows:
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Approximately 30% for improving learning experiences and content development skills.
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Approximately 20% for expanding the range of services and developing services abroad.
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Around 20% for improving the technological infrastructure.
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Approximately 20% for marketing and brand promotion.
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The remaining 10% for general corporate purposes and working capital.
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