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By Ben Glickman
Impact BioMedical, a spinoff of DSS, plans to sell 2 million shares for $3 to $5 in its initial public offering.
The Houston-based biotechnology company said in a regulatory filing on Wednesday that it expects net proceeds of $7.03 million, the midpoint of the anticipated price range. The company it plans to use proceeds for research and development, acquisitions and working capital.
The company didn’t generate any revenue in 2022 and recorded a loss of $7.26 million. DSS distributed shares of Impact Biomedical to its shareholders in July as part of the spinoff.
The company said it would apply to list its shares on the New York Stock Exchange American under an unspecified symbol.
Write to Ben Glickman at [email protected]
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