Here are the S-1 registration statements from Ludwig Enterprises (LUDG) in our archive over the last 12 months, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
An S-1 covers the registration statement a company files to sell shares publicly, so if you follow LUDG and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full LUDG filings page.
Ludwig Enterprises, Inc. is conducting a firm-commitment public offering of 1,670,379 Common Units, each consisting of one share of common stock and one five-year warrant, at an assumed price of $8.98 per unit.
The company plans a 1‑for‑200 reverse stock split to support an exchange uplisting, and listing approval is a condition to closing. Warrants will be immediately exercisable at $11.23 per share. Net proceeds are estimated at about $13.6 million, to fund sales and marketing, research and clinical studies, working capital and repayment of roughly $1.1 million of unsecured and original issue discount debt. Ludwig is an early-stage genomics company with no product revenue to date and reported a $2.24 million net loss in 2025, with an accumulated deficit of $9.50 million, and its auditors have raised substantial doubt about its ability to continue as a going concern.
Ludwig Enterprises is registering 3,750,002 Common Units in a firm-commitment public offering. Each unit includes one share of common stock and one tradeable warrant, with an assumed price of $4.00 per unit and a warrant exercise price of $5.00, expiring five years after issuance.
The company expects net proceeds of approximately $13,550,006, or $15,620,002 if the over-allotment is fully exercised, to fund sales and marketing, research and clinical studies, general and administrative expenses, working capital and repayment of $1,092,000 in unsecured and OID debt. A 1-for-100 reverse stock split, subject to FINRA approval, is planned to support uplisting, and the offering will not close without an exchange listing.
Ludwig is an early-stage genomics company developing mRNA cheek-swab tests for inflammation-related diseases such as cancers and heart disease. It has had minimal revenue, recurring net losses, a substantial accumulated deficit and a going-concern warning, and it will need additional capital beyond this offering to complete planned clinical studies and commercialize its products.