Invizyne Technologies Announces Closing of Initial Public Offering
14 November 2024 - 10:05PM
Invizyne Technologies, Inc., a leading designer of
cell-free, enzyme-based biomanufacturing systems to produce
commercially important molecules and chemicals for everyday life,
today announced the closing of its initial public offering of
1,875,000 shares of its common stock at a public offering price of
$8.00 per share. The shares began trading on NASDAQ under the
ticker symbol “IZTC” on November 13, 2024.
The gross proceeds from the offering, before deducting
underwriting discounts and commissions and other offering expenses,
were approximately $15,000,000. The Company has granted a 45-day
option to the underwriter to purchase up to 281,250 additional
shares, representing 15% of the shares sold in the offering, solely
to cover over-allotments, if any, at the initial public offering
price, less the underwriting discounts and commissions. All of the
shares are being offered by the Company.
In a concurrent private placement of common warrants, the
Company issued 93,750 warrants at a purchase price of $.125 per
warrant, each warrant to purchase one share of common stock at an
exercise price of $8.00, for five years from issuance.
MDB Capital acted as the underwriter of the public offering, and
Cambria Capital LLC and Paulson Investment Company LLC participated
as selected dealers. Golenbock Eiseman Assor Bell & Peskoe LLP
acted as counsel to Invizyne.
A registration statement on Form S-1 (File No. 333-276987) (the
“Registration Statement”) relating to these securities was filed
with the Securities and Exchange Commission (the “SEC”) and was
declared effective on November 8, 2024. The public offering was
made only by means of a prospectus, forming part of the effective
registration statement. A copy of the final prospectus related to
and describing the terms of the offering may be obtained from MDB
Capital, 14135 Midway Rd, Suite G-150, Addison, TX, 75001, or via
email at community@mdb.com or telephone at (945) 262-9010. In
addition, the final prospectus relating to the offering may be
obtained via the SEC’s website at www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Invizyne Technologies,
Inc.Invizyne Technologies, Inc. is a cell-free
enzyme-based biomanufacturing technology company headquartered in
Monrovia, California. Invizyne is redefining biomanufacturing by
leveraging cell-free, multi-step, enzyme-based systems to
efficiently transform natural or renewable resources into highly
sought after biochemicals, such as Active Pharmaceutical
Ingredients (APIs), biofuels, food flavors, fragrances, cosmetics,
etc. Management of Invizyne believes that its biomanufacturing
platform, known as SimplePath™, will be a significant alternative
to the current methods of chemical compound production, which are
generally chemical synthesis, natural extraction, and synthetic
biology. The objective for the SimplePath™ platform is to enable
the efficient production of a diverse range of chemicals otherwise
impossible to make, or very expensive to make. The SimplePath™
platform not only can maximize the value of these resources but
also can contribute to the development of novel and renewable
chemical compounds that hold the potential to open new markets and
business opportunities.
For more information, please visit www.invizyne.com
Forward-Looking StatementsThis press release contains
"forward-looking statements." These forward-looking statements are
made as of the date they were first issued and were based on
current expectations, estimates, forecasts and projections as well
as the beliefs and assumptions of management. Words such as
"expect," "anticipate," "should," "believe," "hope," "target,"
"project," "goals," "estimate," "potential," "predict," "may,"
"will," "might," "could," "intend," "shall" and variations of these
terms or the negative of these terms and similar expressions are
intended to identify these forward-looking statements.
Forward-looking statements are subject to a number of risks and
uncertainties, many of which involve factors or circumstances that
are beyond Invizyne's control. Invizyne's actual results could
differ materially from those stated or implied in forward-looking
statements due to a number of factors. The forward-looking
statements included in this press release represent Invizyne's
views as of the date of this press release. Invizyne anticipates
that subsequent events and developments will cause its views to
change. Invizyne undertakes no intention or obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise. These forward-looking
statements should not be relied upon as representing Invizyne's
views as of any date subsequent to the date of this press
release.
Media contacts:Lasse Görlitz, VP of
Communications(858) 319-7135press@invizyne.com
Investor Relations Contact: IR@invizyne.com
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