Invizyne Technologies Completes IPO, Raises $14 Million in Net Proceeds

Invizyne Technologies Inc. (NASDAQ: IZTC) recently closed its Initial Public Offering (IPO), successfully raising $14,321,686 in net proceeds. The company, specializing in cell-free, enzyme-based biomanufacturing systems, offered 1,875,000 shares of common stock at a purchase price of $8.00 per share.

The IPO, which was consummated on November 14, 2024, saw the company granting the underwriter, MDB Capital, a 45-day option to purchase up to an additional 281,250 shares of common stock and warrants to purchase up to 150,000 shares. The common stock of Invizyne Technologies, listed on the Nasdaq Capital Market under the symbol IZTC, began trading on November 13, 2024.

In connection with the IPO, the company also conducted a Concurrent Private Offering, issuing 93,750 warrants to purchase common stock at a price of $0.125 per warrant. The Private Warrants are exercisable starting six months after issuance and have an exercise price of $8.00 per share, with the potential to generate up to $750,000 if fully exercised.

Exhibits filed with the Securities and Exchange Commission (SEC) indicate that 125,001 shares of common stock were issued to MDB Capital Holdings LLC and Paul Opgenorth upon the conversion of Simple Agreements for Future Equity (SAFEs) issued in 2023.

Invizyne Technologies also announced an additional issuance option granted to underwriters and selected dealers in conjunction with the IPO. The company’s registration statement on Form S-1 was declared effective on November 8, 2024, paving the way for the public offering.

The IPO represents a significant milestone for Invizyne Technologies, providing necessary capital to further develop its cell-free enzyme-based biomanufacturing platform known as SimplePath™. This technology is aimed at transforming natural resources into valuable biochemicals, offering a promising alternative to traditional chemical compound production methods.

For more information on Invizyne Technologies and its innovative biomanufacturing solutions, interested parties can visit the company’s official website.

The Company’s recent press releases related to the pricing and closing of the Offering can be accessed for further details. These announcements mark a significant step forward for Invizyne Technologies as it looks ahead to the future of biomanufacturing and the commercialization of important molecules and chemicals for various industries.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Invizyne Technologies’s 8K filing here.