The IPO Buzz: Anbio Biotechnology Prices IPO at $5.00 – Low End

Anbio Biotechnology (NNNN) priced its IPO at $5.00 – the low end of its $5.00-to-$6.00 price range – and sold all 1.6 million Class A ordinary shares – the number in the prospectus – to raise $8.0 million on Tuesday night, Feb. 18, 2025. Shares of Anbio Biotechnology (NNNN) are expected to start trading today – Wednesday, Feb. 19, 2025 – on NASDAQ. AC  Sunshine Securities acted as the sole book-runner. Anbio Biotechnology, based in Frankfurt, Germany, is a provider of in vitro diagnostic (IVD) products. In the prospectus, the company said that its “IVD products are designed to detect a wide range of biomarkers associated with critical medical domains. These domains encompass infectious diseases, cancer, cardiovascular diseases, inflammation, drug abuse, endocrine disorders, renal disease, pharmacogenomics, and diabetes.” The company said its main sales revenue was from its SARS-CoV-2 and SARS-CoV-2/Flu A/Flu B Antigen Rapid Test Kit, under its Lateral Flow Immunoassay (LFIA) technology, which accounted for 44 percent of its $5.85 million in revenue for the six months that ended June 30, 2024. For that same period, the company said that 63 percent of its revenue was generated in the European Union “and we have significant customer concentration,” according to the prospectus. Anbio Biotechnology intends to use about $2.5 million of the IPO’s proceeds to gain market share and penetration into the Asia Pacific (APAC) market, according to the prospectus. The company said it is “targeting major revenue-generating markets such as Singapore, Australia, Japan, Indonesia, India, Malaysia, and Hong Kong SAR.” About $1.4 million of the IPO’s proceeds will be used for R&D (research and diagnostic) work, while the rest will be used for general corporate purposes. After the IPO, Anbio Biotechnology will continue to be a “controlled” company with principal stockholders CVC Investment and Northwestern Investment each owning 50.0 million shares – or half – of the outstanding Class B stock, the prospectus said. Each share of Class B stock entitles the holder to 50 votes. In contrast, each share of Class A stock entitles the holder to one vote, the prospectus said. The company is profitable, according to financial statements in the prospectus. Anbio Biotechnology Limited reported net income of $4.33 million on revenue of $9.53 million for the 12 months that ended June 30, 2024. (For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on the IPOScoop.com  website.) Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board. To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message. Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the  shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.