Anbio Biotechnology Announces Pricing of Initial Public Offering

Rhea-AI Summary

Anbio Biotechnology, a global diagnostic company focused on medical technology and in vitro diagnostics, has announced the pricing of its Initial Public Offering (IPO). The company is offering 1,600,000 Class A ordinary shares at $5.00 per share, expecting to raise gross proceeds of $8 million.

Trading is set to commence on February 19, 2025, on the Nasdaq Global Market under the ticker symbol NNNN. The offering is expected to close around February 20, 2025. AC Sunshine Securities is serving as the underwriter for this firm commitment offering.

The proceeds will be allocated towards expanding sales and distribution networks in strategic markets, research and development initiatives, and general working capital purposes.

Positive

• IPO will raise $8 million in gross proceeds
• Secured listing on Nasdaq Global Market
• Firm commitment offering structure provides certainty of capital raise

Negative

• Relatively small IPO size may limit institutional investor interest
• Proceeds subject to reduction from underwriting discounts and expenses

Insights

Financial IPO Analyst

This IPO announcement presents several noteworthy aspects that warrant careful analysis. The $8 million gross proceeds target through the issuance of 1.6 million shares at $5.00 per share positions this as an unusually small offering in the biotech sector, where IPOs typically range from $50-200 million. The firm commitment structure, while providing certainty of execution, suggests the underwriter's confidence in placing the shares despite the modest size.

The planned allocation of proceeds reveals a strategic focus on commercial expansion and R&D, critical for a diagnostic company in a highly competitive market. However, the capital raise may constrain the company's ability to execute its growth strategy effectively, particularly in the capital-intensive medical technology sector. For context, developing and commercializing new diagnostic products typically requires substantial investment in clinical validation, regulatory approvals, and market penetration.

The timing of this IPO amidst current market conditions suggests a strategic decision to establish a public market presence, albeit with a conservative approach. The choice of Nasdaq Global Market listing, despite the small offering size, indicates confidence in meeting and maintaining the stricter listing requirements of this tier, which could benefit future capital raising efforts.

From an investor perspective, key considerations include the company's ability to achieve meaningful market penetration and R&D progress with the proceeds, potential future dilution risks given the likely need for additional capital raises, and the stock's potential liquidity challenges given the small float. The success of this IPO could set an important precedent for other small-cap diagnostic companies considering public markets as a funding source.

Frankfurt am Main, Germany, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Anbio Biotechnology (the “Company” or “Anbio”), a global diagnostic company dedicated to the advancement of medical technology and the provision of in vitro diagnostics products, today announced the pricing of its initial public offering (the “Offering”) of 1,600,000 Class A ordinary shares (“the Class A Ordinary Shares”) at a public offering price of US$5.00 per Class A Ordinary Share. The Class A Ordinary Shares have been approved for listing on the Nasdaq Global Market and are expected to commence trading on February 19, 2025 under the ticker symbol “NNNN.”

The Company expects to receive aggregate gross proceeds of US$8 million from the Offering, before deducting underwriting discounts and other related expenses. The Offering is expected to close on or about February 20, 2025, subject to the satisfaction of customary closing conditions.

Proceeds from the Offering will be used for expansion of sales and distribution network in the strategically selected markets, research and development, and working capital and general corporate matters.

The Offering is being conducted on a firm commitment basis. AC Sunshine Securities LLC is acting as the underwriter for the Offering (the “Underwriter”). Ortoli Rosenstadt LLP is acting as U.S. counsel to the Company, and Focus Law is acting as U.S. counsel to the Underwriter in connection with the Offering.

A registration statement on Form F-1 relating to the Offering was filed with the U.S. Securities and Exchange Commission (the “SEC”) (File Number: 333-284106), as amended, and was declared effective by the SEC on February 18, 2025. The Offering is being made only by means of a prospectus, forming a part of the registration statement. Copies of the final prospectus relating to the Offering, when available, may be obtained from AC Sunshine Securities LLC by email at prospectus@acsunshine.com, by standard mail to 200 E. Robinson Street, Suite 295, Orlando, FL 32801, or by telephone at +1 (689)-689-9686. In addition, copies of the final prospectus relating to the Offering, when available, may be obtained via the SEC's website at www.sec.gov.

Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company’s 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 such state or jurisdiction.

About Anbio Biotechnology

Anbio Biotechnology is dedicated to the advancement of medical technology and the provision of in vitro diagnostics (IVD) products. It is an innovation-driven global diagnostic company offering a diverse portfolio of mature diagnostic assays and five key platforms for biomarker detection, including Fluorescent Immunochromatographic Solution (FIA), Chemiluminescent Immunoassay Solution (ChLIA), Polymerase Chain Reaction Solution (PCR), Lateral Flow Assay Solution (LFIA), and Loop-Mediated Isothermal Amplification Solution (LAMP). These solutions cater to point-of-care settings, laboratory, and over-the-counter applications, enabling healthcare providers and patients to access fast, reliable, and cost-effective diagnostic tools. With a strong global presence across the EU, APAC, and the Americas, the Company’s Conformité Européenne (CE)-marked products detect biomarkers associated with critical medical domains, encompassing infectious diseases, cancer, cardiovascular diseases, inflammation, drug abuse, endocrine disorders, renal disease, pharmacogenomics, and diabetes. Designed for compatibility with multiple sample collection matrices, including serum, plasma, whole blood, feces, urine, and saliva, the product lineup facilitates efficient and reliable diagnostic testing across diverse patient populations and healthcare settings. By prioritizing innovation, affordability, and speed, Anbio aims to transform the global diagnostics landscape, fostering a paradigm shift towards personalized and decentralized diagnostic solutions. For more information, please visit the Company’s website: https://www.anbiobiotechnology.com/.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements, including, but not limited to, the Company's proposed Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the Offering will be successfully completed. Investors can find many (but not all) of these statements by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions in this prospectus. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

For more information, please contact:
investors@ascent-ir.com

FAQ

When will Anbio Biotechnology (NNNN) start trading on Nasdaq?

Anbio Biotechnology (NNNN) is expected to begin trading on the Nasdaq Global Market on February 19, 2025.

How much is Anbio Biotechnology's IPO priced at per share?

Anbio Biotechnology's IPO is priced at $5.00 per Class A ordinary share.

How many shares is Anbio Biotechnology (NNNN) offering in its IPO?

Anbio Biotechnology is offering 1,600,000 Class A ordinary shares in its IPO.

How will Anbio Biotechnology (NNNN) use its IPO proceeds?

Anbio Biotechnology will use the IPO proceeds for expanding its sales and distribution network, research and development, and working capital and general corporate purposes.

What is the total expected gross proceeds from Anbio Biotechnology's IPO?

Anbio Biotechnology expects to receive gross proceeds of $8 million from the IPO.