Apr 30, 2023 1:23 p.m | 1 minute read
With the start of a new week comes the excitement of a new group of companies looking to make a difference through their IPOs. According to Benzinga Pro, these enticing companies are set to go public this week.
- Kenvue Inc (NYSE:KVUE) will be public on May 5, 2023. The company has a price range between $20.00 and $23.00 with a 180 day lock-up period. Kenvue Inc will offer 151,204,000 shares at $21.50 per share.
- MDNA Life Sciences Inc (NASDAQ:MDLS) will begin public trading on May 3, 2023. The company’s price range is $5.00 to $6.00 with an insider ban of 180 days. MDNA Life Sciences Inc will offer 2,455,000 shares at $5.50 per share.
Understand IPOs
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Initial Public Offerings or IPOs are the transitional processes of private companies that decide to go public and offer shares to investors on exchanges. IPOs typically provide companies with an opportunity to raise capital by circulating shares across the market. A company interested in becoming publicly traded must first meet SEC requirements and work with investment banks through audits to determine pricing, offering date, and other key data points prior to the offering.
Companies and investment banks will work to set a price range within which to sell the stock. This is called the supply area. Once a company goes public, its stock has an opening price. The insider lockup period is typically a set number of days after an IPO, during which company insiders or employees with 10% or more ownership of their company cannot sell stock.
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This article was generated by Benzinga’s automated content engine and reviewed by an editor.
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