Canton Strategic Holdings, Inc.

Canton Strategic Holdings, Inc. (HILS) priced its initial public offering on Jan 13, 2022 at $4.00 per share, below its $5.00–$6.00 range, raising $15M, and listed on Nasdaq Capital Market. At the IPO price its market capitalization was about $44.9M. ThinkEquity was lead-left underwriter. Sheppard Mullin advised the company and Dentons advised the underwriters.

At its 2022 IPO, Hillstream BioPharma, Inc. (now Canton Strategic Holdings, Inc.) was a pre-clinical biotechnology company developing treatments for treatment-resistant cancers by inducing iron-mediated cell death. Its most advanced candidate was HSB-1216, aimed at solid tumors, built on its Quatramer platform.

Status

IPO

Ticker

HILS

Exchange

Nasdaq Capital Market

Priced

Jan 13, 2022

IPO price

$4.00

Price range

$5.00–$6.00

Raised

$15M

Market cap at IPO price

$44.9M

First filed

Sep 27, 2021

Underwriters

ThinkEquity

Company counsel

Sheppard Mullin

Underwriters' counsel

Dentons

Sector

Financials

Country / state

NY

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.