7 Things to Know About the Upcoming Cingulate (CING) IPO

Cingulate (NASDAQ: CING), the biotech company that is developing formulations of stimulant drugs for ADHD, is making its public debut soon. Here are 7 key things to know about the upcoming CING IPO.

1) CING IPO Date - Cingulate is due to go public on October 07. Cingulate will start trading under the ticker symbol “CING” on the Nasdaq stock exchange. Typically, shares that make their public stock market debuts start trading between 10 AM - 2 PM ET.

2) CING IPO Pricing - CING is expected to price its shares between $10.00 and $12.00.

3) Shares Offered - Cingulate is seeking to sell 4,545,454 of its common stock. The S-1 filing shows the number of outstanding shares after IPO offering would be 20,448,044 shares or 21,129,862 shares if the underwriters exercise in full their option.

4) CING IPO Valuation - Cingulate is seeking a valuation of between $204.5 million and $245.4 million.

5) CING IPO Raised Proceeds - At the midpoint of the pricing range, CING is looking to raise $50 million. The company plans to use the raised proceeds to make further investments in the research and development and pre-commercialization planning of CTx-1301.

6) CING IPO Underwriters - Oppenheimer, Ladenburg Thalmann, and Brookline Capital Markets are underwriters for the IPO.

7) CING Financials - The company reported losses of $7.2 million and $11.5 million for the years ended December 31, 2020 and 2019, respectively. For the first half of 2021, the company reported a loss of $2.8 million. The total accumulated deficit since its inception is $33.8 million.

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