- Record date of July 22, 2024 set for allocation preferences
- Closing and trading expected on NASDAQ on or before August 15
Addison, Texas, July 11, 2024 (GLOBE NEWSWIRE) -- MDB Capital Holdings, LLC, (NASDAQ: MDBH) (“MDB”), a public venture platform focused on launching category-leading deep technology companies, today announces the record date, allocation preference, and expected timeline for the proposed offering for Invizyne Technologies, Inc.
In February 2024, Invizyne – a leading designer of cell-free, enzyme-based biomanufacturing systems to produce commercially important molecules and chemicals for everyday life and a subsidiary of MDB Capital Holdings – filed its IPO registration statement on Form S-1 with the U.S. Securities and Exchange Commission ("SEC") for the sale of its common stock in a firm commitment public offering.
The offering will be for 4,300,000 shares of common stock at a price per share of $4.00, for gross proceeds of $17.2 million. Invizyne has applied to list its common shares on The Nasdaq Stock Market under the ticker symbol "IZTC".
As a MDB "Big Idea" Company, the broker dealer subsidiary of MDB intends to give preference to holders of MDB Class A Shares (Nasdaq: MDBH) for allocations in the Invizyne offering as follows:
- Record Date: MDB Capital has set a record date of July 22, 2024, for the purpose of the proposed offering.
- Allocation Preference: Any investor that holds shares of MDBH on the record date (i.e. shares purchased and held at least one day prior to July 22, 2024) will be entitled to indicate for and receive an allocation to purchase one (1) share of Invizyne for every share of MDBH they own.
- Additional Allocations: Shareholders may indicate for additional shares of Invizyne than they are entitled to based on MDBH ownership. Additional allocations will be made on a pro-rata basis, if available. Afterward, if any shares in the proposed offering are still available, indications from non-MDBH shareholders will be considered.
- Indication Process and Deadline: All shares sold in the offering need to be sold via MDB Capital or one of its selling group members. Interested investors should contact MDB Capital or one of its selling group members to make a formal indication for the number of shares sought no later than August 5, 2024.
- Allocation Announcements and Proposed Timing: Exact per share allocations in the offering will be communicated to investors soon after the record date. The offering is expected to close, with trading to begin on or before August 15, but is subject to change. All allocations are subject to review for suitability and compliance and as such, MDB may limit certain allocations.
A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities herein, 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.
A copy of the prospectus related to the offering and included in the registration statement, when available, may be obtained by visiting the SEC website or by emailing MDB’s broker dealer at community@mdb.com.
About MDB Capital Holdings, LLC
Founded in 1997, MDB Capital focuses on launching “Big Ideas” into valuable public companies with a better approach to public venture capital. This approach involves community-driven financings of pre-revenue, early-stage deep technology companies through early public offerings, primarily listed on NASDAQ, as well as post-IPO offerings for already public companies that fit MDB’s overall criteria for investment.
MDB Capital is the brand under which MDB Capital Holdings, LLC (NASDAQ: MDBH) and its subsidiaries operate and provide services, which includes a self-clearing broker-dealer and trading platform and an integrated, intellectual property (IP) strategy consulting and law firm.
MDB Capital (a dba of Public Ventures, LLC) is a registered broker-dealer, Member FINRA/SIPC.
For more information, please visit www.mdb.com.
Forward-Looking Statements
This 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 MDB's control. MDB's actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in documents that may be filed by MDB from time to time with the SEC. The forward-looking statements included in this press release represent MDB's views as of the date of this press release. MDB anticipates that subsequent events and developments will cause its views to change. MDB 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 MDB's views as of any date subsequent to the date of this press release.
Investor Relations Contact:
IR@mdb.com
Media Contact:
press@mdb.com
