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3 upcoming IPOs to watch

A Mediterranean restaurant brand, dehydrated food manufacturer and pharmaceutical company are expected to go public this month.

Over 60 companies have gone public in the US so far this year. The US IPO market has been slow in the first quarter of 2023, following the fourth quarter of 2022 in which over 60% of IPOs were withdrawn.

Interest rate hikes and inflation may discourage investors from buying newly-issued stocks, according to PwC. Investors will be drawn to companies that have a clear path to profitability backed by solid stock fundamentals.

Though the IPO market has been somewhat sluggish, here are 3 upcoming IPOs to watch in June 2024. There may be delays as business owners try to weigh the market and judge the best time to approach investors.

3 upcoming IPOs to watch in June 2024

NameSymbolExpected IPO dateExpected price range
CAVA GroupCAVAJune 2023$17.00 ⁠– $19.00
BranchOut FoodBOFJune 2023$7.00
60 Degrees PharmaceuticalsSXTPJune 2023$4.30 ⁠– $6.30

CAVA Group

CAVA Group logo

CAVA Group is a Mediterranean fast-casual restaurant brand that operates 263 restaurants in 22 states plus Washington, D.C. Founded in 2006, the company is headquartered in Washington, D.C. Over the last 12 months, it made $608.2 million in revenue and -$41.1 million in net income. You can view its prospectus here.

  • Name: CAVA Group Inc.
  • Symbol: CAVA
  • Exchange: NYSE
  • Estimated volume: $260.0 million
  • Expected share price: $17.00 ⁠– $19.00
  • Expected IPO date: June 2023

BranchOut Food

Branch Out Foods logo

BranchOut Food manufactures and markets plant-based dehydrated foods made from avocados, bananas and other foods. Founded in 2017, the company is headquartered in Oregon. Over the last 12 months, its 12-month revenue was $0.75 million, and its net income was -$4.64 million. You can view its prospectus here.

  • Name: BranchOut Food
  • Symbol: BOF
  • Exchange: Nasdaq Capital Market
  • Estimated volume: $7.7 million
  • Expected share price: $7.00
  • Expected IPO date: June 2023

60 Degrees Pharmaceuticals

60 Degrees Pharmaceuticals logo

60 Degrees Pharmaceuticals develops treatments for diseases like malaria and viruses like COVID-19. The company was founded in 2013 and is headquartered in Washington, D.C. Over the last 12 months, it had $0.19 million in revenue and a net income of -$-7.87 million. You can view its prospectus here.

  • Name: 60 Degrees Pharmaceuticals, Inc.
  • Symbol: SXTP
  • Exchange: Nasdaq Capital Market
  • Estimated volume: $7.5 million
  • Expected share price: $4.30 ⁠– $6.30
  • Expected IPO date: June 2023

How to invest in IPOs

  1. Open a stock trading account. Trading platforms such as Robinhood, Webull and SoFi let you order some IPO stocks at the initially proposed price before these stocks hit the secondary market and become more widely available.
  2. Find the IPO stock you want to buy. Search for stocks by company name or ticker symbol (for example, “AAPL”), select the stock and enter the number of shares you want to buy.
  3. Review and submit your order. Place a market order to buy at the listed stock price, or place a limit order to buy in the future when the price is more favorable. Note that IPO stock prices tend to rise sharply immediately following a public offering but often taper off afterwards.

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Written by

Stacie Hurst

Stacie Hurst is an editor at Finder, specializing in a wide range of topics including stock trading, money transfers, loans, banking products, online shopping and streaming. She has a Bachelor of Arts in Psychology and Writing, and she completed one year of law school in the United States before deciding to pursue a career in the publishing industry. When not working, Stacie can usually be found watching K-dramas or playing games with her friends and family. See full profile

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