A Look At Upcoming IPOs For The Week

With the start of a new week comes the excitement surrounding a new set of companies looking to make an impact through their public offerings. According to Benzinga Pro, these enticing companies are scheduled to trade publicly this week.

• FITELL CORPORATION FTEL will be trading publicly starting on Aug. 1, 2023. The company's price band is set between $5.00 and $6.00 with an insider lock-up period of 180 days. FITELL CORPORATION will be offering 3,000,000 shares at a per-share value of $5.50.
• Pixie Dust Technologies, Inc PXDT becomes publicly listed starting on Aug. 1, 2023. The company has a price range set between $9.00 and $10.00 with a 180-day lockup period. Pixie Dust Technologies, Inc will be offering 2,000,000 shares at a per-share value of $9.50.
• CHEETAH NET SUPPLY CHAIN SERVICE INC CTNT will be trading publicly starting on July 31, 2023. The company's price band is set between $4.00 and $6.00 with an insider lock-up period of 180 days. CHEETAH NET SUPPLY CHAIN SERVICE INC will be offering 1,250,000 shares at a per-share value of $5.00.

What Are IPOs?

An initial public offering, or IPO, is the transitional process of a private company deciding to go public and offer shares to investors on an exchange. Typically, IPOs offer companies the ability to build capital. Before a company becomes publicly listed, it must meet SEC requirements and work with investment banks through audits to determine pricing, offering date, and other important data points before the offering.

Companies and investment banks will work to establish a price range that the stock is expected to sell between. This is known as an offering range. Once a company goes public, its stock comes with an opening price. The insider lock-up period is usually a set number of days after an IPO where company insiders, or employees with a 10% or higher stake in their company, cannot sell shares.

This article was generated by Benzinga's automated content engine and reviewed by an editor.