IPO Roundup: Boundless Bio, NeOnc Technologies and more

The U.S. IPO market is gearing up for a busy week, with several small issuers preparing to make their debut. It follows a mixed week for new public listings, marked by the 32% surge of social media platform Ryde (RYDE) and the 20% decline of Lucas GC (LGCL). Despite some volatility, the market continues its strong performance, with the Renaissance International IPO Index (NYSEARCA:IPO) up 7% YTD, closely tracking the S&P 500's 7.4% gain. Adding fuel to the fire, social media platform Reddit (RDDT) grabbed headlines on Friday, as it reportedly planned to kick off its IPO roadshow in the coming week.

Here are some of the other major headlines in the IPO market:

Coming IPOs that are expected to price this week

• Metros Development (MTRS) is raising $6.4M by offering 1M shares at a price of $6.4 per share. Description: A real estate consulting company based in Tokyo, Japan.
• Junee Limited (JUNE) is raising $10M by offering 2M shares at an estimated price range between $4 and $6 per share. Description: Interior design and fit-out services provider in Hong Kong
• Massimo Group (MAMO) is raising $5.9M by issuing 1.3M shares at an estimated price range between $4-$5 per share. Description: A powersport vehicle and motor boat maker.
• Armlogi Holding (BTOC) is raising $11M by offering 2M shares at an estimated price range between $5-$6 per share. Description: A Chinese warehousing and logistics service provider.
• Gelteq (GELS) is raising $6.5M by offering 1.3M shares at a price of $5 per share. Description: A clinical company developing white-label gel-based delivery solutions for various products.
• SKK Holdings (SKK) is raising $11.3M by issuing 2.5M shares at an estimated price range of $4–$5 per share. Description: A Singapore-based civil engineering firm.
• U-BX Technology (UBXG) is raising $10M by issuing 2M shares at a price of $5 per share. Description: China-based online insurance marketer.
• Zhibao Technology (ZBAO) is raising $5M by issuing 1.3M shares at a price of $4 per share. Description: A Chinese digital insurance brokerage platform.
• NeOnc Technologies Holdings (NTHI) is raising $75M by issuing 6M shares at an estimated price range between $11.25-$13.75 per share. Description: A brain cancer therapy developer.
• RanMarine Technology (RMRN) is raising $7.9M by issuing 1.4M shares at a price of $5.5 per share. Description: A Dutch aquatic drone developer.

New notable filings

• Eureka Acquisition, a Shanghai-based company, has filed with the SEC to raise up to $50M in an initial public offering. The company plans to offer 5M units at $10, each containing one share of common stock and one right to receive one-fifth of a share upon the completion of an initial business combination. Eureka Acquisition, led by CEO, CFO, and Chairman Fen Zhang, a Founding Partner of Hercules Capital Group, plans to focus on businesses in Asia, including China. The company was founded in 2023 and plans to list on the Nasdaq but has not yet selected a symbol. Description: A blank check company targeting businesses in Asia.
• Cuprina Holdings (CUPR) has filed with the SEC to raise up to $10M in an initial public offering. The company has two lines of chronic wound care products in its pipeline, with development expected in 2024 and 2025. Cuprina has been selling its MEDIFLY products in Singapore since 2020 and plans to expand into Southeast Asia, the Middle East, and mainland China in 2024 and 2025. The company was founded in 2019 and plans to list on the Nasdaq under the symbol CUPR. Description: A Singapore-based provider of chronic wound care products.
• Jyong Biotech has filed with the SEC to raise up to $29M in an initial public offering. The company, which focuses on developing and commercializing innovative plant-derived drugs for urinary system diseases, previously filed for $40M in August 2023. The company plans to list on the NYSE American but has not selected a symbol yet. Description: A commercial-ready Taiwanese biotech firm developing therapies for urinary diseases.
• Boundless Bio (BOLD) has filed with the SEC to raise up to $100M in an initial public offering. The company focuses on developing inhibitor therapies for oncogene-amplified tumors by targeting extrachromosomal DNA (ecDNA). The San Diego-based company plans to list on the Nasdaq under the symbol BOLD. Description: A Phase 1 biotech company.
• Wing Yip Food Holdings Group (WYHG) has filed with the SEC to raise up to $30M in an initial public offering. The company, listed on the Korea Exchange under the symbol "900340," processes, sells, and distributes cured meat, snack, and frozen meat products. It operates in 18 provinces across China through seven self-operated stores, 72 distributors, and seven e-commerce platforms. The company plans to list on the Nasdaq under the symbol WYHG. Description: A Chinese meat processing and selling company.