The impending initial public offering (IPO) of Dragonfly Biosciences, a cannabidiol (CBD) producer and distributor, has generated a considerable buzz among investors. With its ambitious plans, vertical integration, and an extensive retail network, Dragonfly Biosciences seemed poised for success. However, a closer investigation into the company raises concerns about their current state of affairs. In this investigative piece, we explore the puzzling silence surrounding Dragonfly Biosciences and delve into the potential reasons behind their uncharacteristic lack of communication.
A Trail Gone Cold
Upon visiting the company’s website, dragonflybiosciences.com, one is met with an unexpected surprise—a boilerplate Squarespace notice indicating that the site has expired. This revelation is alarming, considering the company’s supposed IPO on the horizon. A deeper dive into their online presence reveals that Dragonfly Biosciences’ last post on LinkedIn was over two months ago, leaving potential investors and industry observers with more questions than answers.
Lack of Transparency
The absence of regular updates and engagement from Dragonfly Biosciences raises concerns about their commitment to transparency and investor communication. In the lead-up to an IPO, it is customary for companies to provide detailed information, showcase their achievements, and build anticipation among potential investors. However, Dragonfly Biosciences seems to have strayed from this path, leaving investors in the dark about their progress and future plans.
Dwindling Online Footprint
In today’s digital age, a strong online presence is crucial for any company, especially one on the brink of going public. Dragonfly Biosciences’ failure to maintain an active website and social media channels is perplexing, to say the least. As an investment opportunity that emphasizes its retail distribution network and international footprint, the lack of an updated online presence raises doubts about the company’s current operations and viability.
Questionable Underwriter Choices
Finexia Securities Limited and Lazarus Corporate Finance Pty Ltd are listed as joint lead managers for Dragonfly Biosciences’ IPO. While these firms may boast expertise in the financial sector, their association with a company that exhibits signs of disarray raises questions about their due diligence and the overall credibility of the IPO. Investors must exercise caution when considering the involvement of these underwriters in Dragonfly Biosciences’ listing.
Maybe It is Not Happening?
The upcoming IPO of Dragonfly Biosciences, a CBD producer and distributor, has been shrouded in silence and uncertainty. The expiration of their website, lack of recent online activity, and the absence of transparent communication raise red flags for potential investors. While Dragonfly Biosciences presents an attractive investment opportunity on paper, the company’s current state and questionable underwriter choices warrant careful scrutiny. Investors must exercise due diligence and seek further information before making any investment decisions.
Disclaimer: The information provided in this article is based on the available data and observations as of the time of writing. It is important for investors to conduct thorough research and seek professional advice before making any investment decisions. The author of this article and IPO Society do not provide financial advice, and this article should not be considered as such.