Impact BioMedical, which is developing a portfolio of consumer wellness and biomedical products, raised $4.5 million by offering 1.5 million shares at $3, the low end of the range of $3 to $5. The pre-revenue company had originally filed in 2023 to sell 2.0 million shares, before lowering the proposed offer size in June.
Because the company raised less than $5 million, Impact BioMedical is excluded from Renaissance Capital's 2024 IPO stats.
Spun out of DSS (ticker: DSS), the Houston, TX-based company mainly operates through its subsidiary, Global BioLife. Impact BioMedical is currently focused on research in three main areas: development of a universal therapeutic drug platform, a new sugar substitute, and a multi-use fragrance.
Impact BioMedical listed on Monday on the NYSE American under the symbol IBO. Revere Securities acted as bookrunner on the deal.
