Invizyne Technologies Announces Closing of Initial Public Offering

Rhea-AI Summary

Invizyne Technologies, a designer of cell-free, enzyme-based biomanufacturing systems, announced the closing of its Initial Public Offering of 1,875,000 common stock shares at $8.00 per share. Trading began on NASDAQ under symbol IZTC on November 13, 2024. The IPO raised approximately $15 million in gross proceeds. The company granted a 45-day option to the underwriter to purchase up to 281,250 additional shares. Additionally, in a concurrent private placement, Invizyne issued 93,750 warrants at $0.125 each, exercisable at $8.00 per share for five years.

Positive

• Successfully raised $15 million through IPO
• Achieved NASDAQ listing
• Additional funding potential through 281,250 share over-allotment option

Negative

• Potential dilution from warrant exercise (93,750 shares)
• Additional dilution risk from over-allotment option (281,250 shares)

Insights

Financial Analyst

The IPO of Invizyne Technologies represents a significant milestone in the biomanufacturing sector. The $15 million raise at $8.00 per share, while modest in size, provides important capital for the company's enzyme-based manufacturing platform. The concurrent warrant issuance of 93,750 units at $0.125 each creates potential for additional future funding through warrant exercises. The 45-day over-allotment option could bring in up to $2.25 million in additional capital if fully exercised.

The IPO pricing and structure suggest a cautious market approach, typical for early-stage biotech companies. The inclusion of warrants indicates a need to sweeten the deal for initial investors, while the relatively small float of 1.875 million shares could lead to significant price volatility in early trading. Investors should monitor the post-IPO performance and any exercise of the over-allotment option as indicators of market confidence.

Monrovia, CA, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Invizyne Technologies, Inc., a leading designer of cell-free, enzyme-based biomanufacturing systems to produce commercially important molecules and chemicals for everyday life, today announced the closing of its initial public offering of 1,875,000 shares of its common stock at a public offering price of $8.00 per share. The shares began trading on NASDAQ under the ticker symbol “IZTC” on November 13, 2024.

The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses, were approximately $15,000,000. The Company has granted a 45-day option to the underwriter to purchase up to 281,250 additional shares, representing 15% of the shares sold in the offering, solely to cover over-allotments, if any, at the initial public offering price, less the underwriting discounts and commissions. All of the shares are being offered by the Company.

In a concurrent private placement of common warrants, the Company issued 93,750 warrants at a purchase price of $.125 per warrant, each warrant to purchase one share of common stock at an exercise price of $8.00, for five years from issuance.

MDB Capital acted as the underwriter of the public offering, and Cambria Capital LLC and Paulson Investment Company LLC participated as selected dealers. Golenbock Eiseman Assor Bell & Peskoe LLP acted as counsel to Invizyne.

A registration statement on Form S-1 (File No. 333-276987) (the “Registration Statement”) relating to these securities was filed with the Securities and Exchange Commission (the “SEC”) and was declared effective on November 8, 2024. The public offering was made only by means of a prospectus, forming part of the effective registration statement. A copy of the final prospectus related to and describing the terms of the offering may be obtained from MDB Capital, 14135 Midway Rd, Suite G-150, Addison, TX, 75001, or via email at community@mdb.com or telephone at (945) 262-9010. In addition, the final prospectus relating to the offering may be obtained via the SEC’s website at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Invizyne Technologies, Inc.
Invizyne Technologies, Inc. is a cell-free enzyme-based biomanufacturing technology company headquartered in Monrovia, California. Invizyne is redefining biomanufacturing by leveraging cell-free, multi-step, enzyme-based systems to efficiently transform natural or renewable resources into highly sought after biochemicals, such as Active Pharmaceutical Ingredients (APIs), biofuels, food flavors, fragrances, cosmetics, etc. Management of Invizyne believes that its biomanufacturing platform, known as SimplePath™, will be a significant alternative to the current methods of chemical compound production, which are generally chemical synthesis, natural extraction, and synthetic biology. The objective for the SimplePath™ platform is to enable the efficient production of a diverse range of chemicals otherwise impossible to make, or very expensive to make. The SimplePath™ platform not only can maximize the value of these resources but also can contribute to the development of novel and renewable chemical compounds that hold the potential to open new markets and business opportunities.

For more information, please visit www.invizyne.com

Forward-Looking Statements
This press release contains "forward-looking statements." These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," "shall" and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements.

Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Invizyne's control. Invizyne's actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors. The forward-looking statements included in this press release represent Invizyne's views as of the date of this press release. Invizyne anticipates that subsequent events and developments will cause its views to change. Invizyne undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing Invizyne's views as of any date subsequent to the date of this press release.

Media contacts:
Lasse Görlitz, VP of Communications
(858) 319-7135
press@invizyne.com

Investor Relations Contact:
IR@invizyne.com

FAQ

What was the IPO price for Invizyne Technologies (IZTC) shares?

Invizyne Technologies (IZTC) shares were priced at $8.00 per share in its initial public offering.

How much did Invizyne Technologies raise in its IPO?

Invizyne Technologies raised approximately $15 million in gross proceeds from its initial public offering.

When did Invizyne Technologies (IZTC) begin trading on NASDAQ?

Invizyne Technologies (IZTC) began trading on NASDAQ on November 13, 2024.

How many shares were offered in Invizyne Technologies' IPO?

Invizyne Technologies offered 1,875,000 shares of common stock in its initial public offering.