Dow Jones Newswires: Impact Biomedical files for IPO

Impact Biomedical has filed for an initial public offering, according to a filing with the Securities and Exchange Commission.

The provider of natural and plant-based technology said in the filing on Tuesday it plans to list its shares on the New York Stock Exchange.

The company didn’t detail how many shares it is offering, the estimated share price either, or ticker symbol.

In 2022, the company posted a net loss of $7.3 million compared with a loss of $1.8 million for the same period a year earlier. It didn’t report revenue.

Impact Biomedical said it expects to use about 40% of net proceeds from the IPO toward research and development, 10% on acquisitions, and the remaining proceeds for capital purposes.

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