Manufacturing Stocks List

1. Flowco NYSE:FLOC

We are a leading provider of production optimization, artificial lift and methane abatement solutions for the oil and natural gas industry. Our products and services include a full range of equipment and technology solutions that enable our customers to efficiently and cost-effectively maximize the profitability and economic lifespan of the production phase of their operations. Our principal products and services are organized into two business segments: (i) Production Solutions; and (ii) Natural Gas Technologies. Our core technologies include high pressure gas lift (“HPGL”), conventional gas lift, plunger lift and vapor recovery unit (“VRU”) solutions, all of which are overlaid by our proprietary digital technologies and solutions that enable real-time remote monitoring and control to maximize efficiencies of our products and services. These products and services, including proprietary technologies such as HPGL, which was pioneered by Flowco, hold, in their respective categories, leading positions in growing markets, and are used extensively by the largest oil and natural gas producers primarily in the U.S. We generate revenues throughout the long producing lives of oil and gas wells, which may be able to produce for decades after being drilled and completed. As of September 30, 2024 we operated a fleet of over 4,300 active systems enabling consistent revenue generation. We also sell other products and services that help our customers optimize the value of their assets. We believe that the demand for our products and services is more stable than demand for drilling and completion related services, and this demand has resulted in a more durable, recurring cash flow for our products and services than is typical in many other oilfield services. The production phase of a new oil or natural gas well begins when it is brought online. From this point forward, the rate of production is determined by the geological characteristics of the reservoir from which the well is producing, the design and construction of the wellbore from the reservoir to the surface, and the elapsed time since the well is brought online. This rate of production typically falls over time as the natural reservoir pressure declines and becomes insufficient to bring oil to the surface. This decline is particularly steep for shale wells found in onshore North American oil and natural gas basins. Artificial lift and production optimization technologies are essential to counteracting this decline, increasing production rates, and maximizing hydrocarbon recovery, all of which improve the economics of a producing well. Artificial lift enables the economic production of oil and natural gas from shale wells that would be otherwise uneconomic. As a result, operating expenses associated with production optimization are less discretionary in nature, placing our solutions on a critical path for producers to generate positive returns and maximize the value of their wells. Furthermore, the production phase is the most stable and least capital-intensive phase of the well lifecycle, driving consistent revenue, durable earnings and stable through-cycle performance for our business. Our products are chosen due to their reliability and ability to aid our customers in achieving maximum output and cash flow from their producing wells. Our products and services also integrate proprietary digital technologies that allow for remote monitoring and other enhanced uses of our equipment. Our VRUs and other methane abatement solutions capture fugitive emissions of methane, which is a natural byproduct of oil production. As oil flows to the surface and is processed at the wellsite, methane is released as associated gas. Since methane is a very small molecule, much of it escapes as fugitive emissions. In addition, many sources of potential methane emissions exist throughout the natural gas value chain. By capturing these fugitive emissions, our VRUs and other methane abatement solutions allow for monetization of the resulting incremental natural gas volumes and enable our customers to meet their decarbonization goals and comply with regulatory requirements. These innovative and proprietary methane abatement solutions extend across each of our core technologies and can be used on their own as well as in conjunction with our other products and services. Demand for these solutions was initially driven by safety benefits, but accelerated as producers became more aware of the value of monetizing captured vapors, leading to high return on investment outcomes for our customers. Due to recent and emerging regulatory requirements aimed at reducing fugitive methane emissions across oil and natural gas operations from numerous Federal and state-level entities, operating expenses associated with our methane abatement solutions have become increasingly required and therefore non-discretionary in nature. We hold a leading position in the rapidly growing VRU market, which is driven by both economic and environmental benefits, and we have helped drive adoption of our methane abatement solutions with our customers. --- We have an operating presence in every major onshore oil and natural gas producing region in the U.S. and have cultivated deep and longstanding customer relationships with leading oil and natural gas producers in each region, including supermajors and large independent producers. We are headquartered in Houston, Texas with major service facilities in Midland, Texas; Carlsbad, New Mexico; and Williston, North Dakota. We operate manufacturing and repair facilities in El Reno, Oklahoma; Houston, Fort Worth, Kilgore and Pampa, Texas; and Lafayette, Louisiana. Our service centers are geographically positioned near our customers’ operations, enabling us to rapidly deploy our solutions and provide responsive, high-quality service nationwide. Our business currently operates under two segments: (i) Production Solutions; and (ii) Natural Gas Technologies. Production Solutions. We design and deliver products and services that enable our customers to optimize oil and natural gas production rates and volumes to maximize cash flow over the decades-long lives of their wells. We provide systems applicable to wells from initial production through their natural decline to late-life production, as well as digital technologies that enable the optimization of our systems’ performance and uptime. We also provide methane abatement solutions that enable our customers to capture and monetize fugitive methane emissions, improving the profitability of their wells and their compliance with recent and forthcoming emissions-related regulatory requirements. On a given well, our customers often use three of our production solutions offerings concurrently, utilizing our digital technologies and methane abatement solutions in conjunction with HPGL, conventional gas lift or plunger lift. Furthermore, in many instances, our customers utilize all of our production solutions over the life of a well, as our HPGL transitions to conventional gas lift in mid-stage production, which transitions to plunger lift in later-stage production. In some instances, customers install conventional gas lift components such as side-pocket mandrels at the same time as HPGL, even though the former may not be used for more than a year. We believe our integrated scope of services throughout the life of the well promotes retention and long-term partnerships with our customers. In the nine months ended September 30, 2024, this segment contributed $327.8 million, or 60% of our pro forma revenue. Our production solutions include: • High Pressure Gas Lift. HPGL systems are placed at the wellsite to inject pressurized natural gas into the wellbore. These systems are typically installed when a well is initially brought online and utilized for the first one to two years of the well’s life. High pressure gas injected deep in the well lightens the liquid column, enabling the flow of oil from the formation into the wellbore at flow rates significantly higher than what is otherwise possible. We believe our HPGL systems can deliver the same, or better, production rates when compared to electric submersible pump (“ESP”) systems, which are commonly used for the initial phase of a well’s production. We developed HPGL technology to address several issues in shale well production which became apparent when the shales emerged as a major new source of oil and which can impact the reliability of ESPs. HPGL is designed to operate effectively over a wide range of production rates and to be resilient to produced sand. The rapid decline rates and sand production typical of shale wells can lead to failure of ESP systems, resulting in lost production and a costly intervention and replacement of downhole components. Unlike ESPs, HPGL requires no downhole components beyond the tubing string that is installed on all unconventional wells. The system is entirely controlled and accessible from the surface, leading to improved uptime and return on investment for the producer. HPGL units are provided to customers under contracts which are typically renewed multiple times. We believe the high level of contract renewal is due to the high reliability of our systems and our high levels of customer service. • Conventional Gas Lift. Conventional gas lift systems utilize surface systems placed at the wellsite to inject pressurized natural gas into the wellbore via a series of specifically tuned downhole valves. Conventional gas lift is typically installed after HPGL and utilized in the mid- to late-stage of a well’s producing life. We are the only company capable of providing a comprehensive, customized conventional gas lift system since we provide both surface gas lift systems and high-precision downhole valves, mandrels and gauges. Over the life of the well, we work closely with our customers to modify both the surface and downhole equipment to optimize the value of the well as conditions change. This process of technical consultation and provision of new services and products continues throughout the life of the well, which may span a decade or more. • Plunger Lift. We sell proprietary plunger lift systems that use the well’s natural energy to lift produced liquids to surface. These systems first allow the well’s natural pressure to build and then release the pressure into production equipment at surface, then repeat the cycle. The periodic release of pressure lifts produced liquids to surface, enabling the production of both oil and natural gas. Plunger lift systems are typically installed on wells that have already been producing for multiple years. In many instances, customers transition from our conventional gas lift systems to our plunger lift systems, often as a direct result of our life-of-well integrated solutions. In recent years, plunger usage has increased due to new designs that have widened its applicability, further enhanced by our digital solutions that can optimize the timing of the process. As a result, we are seeing increased adoption of our plunger lift solutions and displacement of rod lift. We sell plunger lift systems to our customers both upon initial installation of a plunger lift system and thereafter as these multi-year solutions require routine maintenance and replacement of key components. Applicability of our plunger lift systems has also expanded with the development of hybrid systems combining gas and plunger lift: plunger-assisted gas lift (“PAGL”); and gas-assisted plunger lift (“GAPL”). In these applications, the build-up of formation gas pressure is supplemented with surface equipment that we also provide for conventional gas lift applications. • Digital Solutions. We employ innovative and proprietary digital solutions to enhance the performance of our various Production Solutions segment offerings, enabling our customers to improve their oil and gas well economics by making more informed and timely operational decisions. Our proprietary Vizion downhole gauges are designed to operate in extreme downhole conditions, providing producers with accurate real-time information about the well, reservoir and lift system to improve critical decision making. Our remote monitoring solutions allow our customers to remotely monitor and optimize production across their well pads. Our automation solutions easily integrate with our gauges, devices and control systems to enable producers to effectively and efficiently operate their wells. • Methane Abatement Technologies. We also manufacture and install proprietary methane abatement technologies that allow producers to reduce fugitive methane emissions associated with their wellsite operations. Marketed under our ZTECH4 brand name, these include Sentry, our bolt-on emissions reduction technology that can be retrofitted to compressor packages; and Vault, our natural gas recycling system that reduces the need to flare or vent methane during maintenance. In all cases, our methane abatement technologies enable the operator to monetize valuable methane and to meet their decarbonization goals. Natural Gas Technologies. We design and manufacture products and provide services that allow our customers to optimize cash flow related to natural gas production and monetize or utilize fugitive emissions related to producing oil and natural gas wells and other emissions-prone operations. We also provide ancillary and complementary products and services, as well as develop and sell related digital solutions in connection with these technologies. In the nine months ended September 30, 2024, this segment contributed $219.5 million, or 40% of our pro forma revenue. Our natural gas technologies include: • Vapor Recovery. We manufacture, rent, sell and service VRU systems that capture fugitive natural gas vapors through a specialized system stationed on a well pad or in proximity to any methane emissions-prone component in the natural gas and unconventional oil value chains. The fugitive vapors are then compressed and typically delivered into the sales line for monetization by the customer or can be returned downhole to assist with artificial lift or production optimization. Our VRU systems employ digital applications that provide real-time data monitoring, predictive maintenance analytics and remote control, driving uptime and cash flows for our customers and preserving and maintaining our VRU assets. We offer most of our VRU systems on a contracted basis to our customers. We believe we have a high rate of contract renewal and long-term deployments due to the high reliability of our systems and our high levels of customer service. In addition, when requested, we will also sell systems directly to customers. • Natural Gas Systems. We manufacture natural gas systems at our domestic facilities. We focus on packaging systems tailored to production optimization applications, including those provided by our Production Solutions segment. In addition to manufacturing units for our own use in our Production Solutions segment, we also sell these systems directly to traditional contract systems service providers. --- We leverage our domestic manufacturing capabilities to ensure delivery of high-quality products with industry-best reliability and uptime, as well as to reduce our exposure to global supply chains. Our vertically integrated business model reduces the capital intensity associated with maintaining and growing our fleet of service equipment by capturing the manufacturing margin, reducing lead times of equipment deliveries and enabling us to optimize our inventory levels. This improves payback periods across most of our major product categories and streamlines commercialization of new innovations being incorporated into our Production Solutions segment. We believe that our control of these processes allows us to optimize inventory levels and to our customers’ evolving needs, while also facilitating innovation and improvements to our solutions offerings. We supply critical equipment and services to the top oil and natural gas producers, who rely on our expertise to optimize the flow of oil and natural gas for the decades after wells have been drilled and completed. As producers further consolidate, we expect they will continue to manage capital expenditures related to their drilling and completion programs while focusing on optimizing and maximizing the value of their production streams. Our revenue generation is diversified across a wide range of customers. Our top ten customer accounts represent approximately 51% of our total pro forma revenue for the year ended December 31, 2023. We have strong relationships with our key customers, and given our market leadership in our main segments, we have successfully worked with our customers to bring new solutions to market. Our differentiated products and services drive superior returns for our customers and have facilitated strong and lasting relationships with our diversified customer base. We have a long history and successful track record of innovation and high-quality service to our customers. Flowco’s two business segments are underpinned by well-known and established brands with reputations for superior performance and reliability. These brands include (i) Estis; (ii) Flowco Production Solutions; and (iii) Flogistix. Estis was founded in 2002 as a leader in compression and artificial lift technologies serving the HPGL and traditional gas lift markets. Flowco Production Solutions was founded in 2014 as a leader in gas lift and other artificial lift solutions with a comprehensive offering of gas lift and plunger lift products. Flogistix was founded in 2011 as a premier production optimization and atmospheric solutions provider with an emphasis on vapor recovery solutions. The three brands were combined in June 2024 to create Flowco as a pure play market leader for production optimization, artificial lift and methane abatement solutions. By uniting the three companies, we can offer comprehensive solutions that enable our customers to maximize cash flow over the decades-long lives of their wells. Flowco Holdings Inc., the issuer of the Class A common stock in this offering, was incorporated as a Delaware corporation on July 25, 2024. Our corporate headquarters are located at 1300 Post Oak Blvd., Suite 450, Houston, Texas.

2. SS Innovations International NASDAQ:SSII

AVRA Medical Robotics, Inc. develops and manufactures medical surgical devices. The company has a research agreement with the University of Central Florida to develop navigation and control technologies with applications in medical robotics. The company was formerly known as AVRA Surgical Microsystems, Inc. and changed its name to AVRA Medical Robotics, Inc. in November 2015. AVRA Medical Robotics, Inc. was founded in 2015 and is based in Orlando, Florida.

3. Kestra Medical Technologies NASDAQ:KMTS

We are a commercial-stage, wearable medical device and digital healthcare company focused on transforming patient outcomes in cardiovascular disease using monitoring and therapeutic intervention technologies that are intuitive, intelligent, and connected. We have developed and are commercializing our Cardiac Recovery System platform, a comprehensive and advanced system that integrates monitoring, therapeutic treatment, digital health, and patient support services into a single, unified solution. The cornerstone of our Cardiac Recovery System platform is the ASSURE WCD, a next generation wearable cardioverter defibrillator (“WCD”) used to protect patients at an elevated risk of sudden cardiac arrest (“SCA”), a major public health problem that accounts for approximately 50% of all cardiovascular deaths in the U.S. The ASSURE WCD automatically monitors elevated risk patients and, if needed, delivers a defibrillation shock to return the patient’s heart to normal rhythm. The ASSURE WCD was purpose-built to enhance patient comfort and compliance and directly address the key barriers to adoption associated with the only other commercially available WCD. We believe the ASSURE WCD offers significant clinical and functional advantages, including greater patient compliance as a result of a major reduction in false alarms and enhanced comfort and wearability. In addition to the ASSURE WCD, our Cardiac Recovery System platform includes a comprehensive suite of fully integrated digital solutions and services that enable enhanced patient and provider engagement and oversight, with the objective of improving patient outcomes. We believe our Cardiac Recovery System platform addresses serious unmet needs in the cardiac patient population and has the potential to disrupt and grow the market which has been limited to a single solution for more than 20 years. As of January 31, 2025, our system is actively being prescribed by more than 550 hospitals across the U.S., representing approximately 20% of WCD prescribing hospitals in the U.S., and has been worn by over 17,000 patients since it was fully commercially launched. In our top 50 hospitals, we believe we have successfully captured approximately 45% of the currently available prescriptions based on company-sourced data on all hospitals that we serve in the U.S. and the percentage of WCD filled prescriptions at those hospitals that are for our ASSURE WCD. SCA is a life-threatening emergency characterized by the abrupt cessation of the heartbeat caused by an electrical malfunction in the heart. This is typically triggered by ventricular arrhythmias, such as ventricular fibrillation (“VF”), and leads to a loss of consciousness and potentially death within minutes if not promptly treated. The American Heart Association (“AHA”) estimates that SCA causes approximately 436,000 deaths per year, making it the third leading cause of death in the U.S. Defibrillation, or an electrical shock, is the only way to restore a fibrillating heart to a normal rhythm. Each minute of delay in restoring the heart to a normal rhythm reduces a patient’s chance of survival by 7% to 10%. The average time for Emergency Medical Services (“EMS”) arrival is 7 minutes from the time of a 911 call, and often longer in rural communities. The most common location of a SCA in adults is at a home or residence, representing approximately 73% of SCAs. In addition, approximately 50% of all SCAs are unwitnessed. A WCD is a wearable, non-invasiveminiaturized automated external defibrillator and is worn underneath regular clothing. The device continuously monitors a patient’s heart rhythm and is capable of delivering a defibrillation shock. Wires connect electrodes inside the garment to the monitor, which is carried in a small pack or shoulder bag. The electrodes continuously acquire a patient’s heart rate and rhythm for evaluation by the automated external defibrillator. If the monitor detects a potentially life-threatening arrhythmia, the WCD first alerts the patient via an audible alarm and then administers a shock, if needed. For over 20 years, WCDs have been used to protect patients at elevated risk of SCA. However, until the ASSURE WCD received Food and Drug Administration (“FDA”) approval in July of 2021, the market was limited to a single solution. Since the approval of the first WCD in 2001, global WCD revenues have grown to $1.3 billion in 2023, with approximately 85% of the revenues generated in the U.S based on our analysis of third-party claims data and estimated average WCD wear prescription lengths and average reimbursement rates in the U.S. and in select international markets derived from industry data and internal estimates. The volume of patients prescribed a WCD in the U.S. grew at roughly 6% annually between 2021 and 2023, and we expect WCD revenues to continue growing. Despite being proven as safe and effective in treating dangerous cardiac rhythms when worn, WCD therapy remains underutilized, reaching just 14% of the eligible U.S. patient population in 2023 based on data on patients indicated for a WCD and WCD prescription data from industry sources. We believe that the low penetration of WCD therapy is largely due to the limitations of the incumbent commercially available device. In feedback we have collected through directly engaging with patients and providers and customer feedback on public platforms, commonly cited reasons for patients or providers failing to use the competitor device include high false alarm frequency, poor wearability and patient discomfort, a unisex-only garment, low utility data and limited connectivity with patients. In the U.S., we estimate that there are approximately 800,000 cardiac patients each year who have experienced a myocardial infarction (“MI”) or are diagnosed with heart failure and have low Left Ventricular Ejection Fraction (“LVEF”), therefore making them eligible for WCD therapy. Additionally, approximately 50,000 patients each year either have documented ventricular tachycardia (“VT”) or VF, an inherited genetic condition, or have had their implantable cardioverter defibrillators (“ICD”) temporarily explanted, and are also indicated for WCDs. Based on an average WCD wear prescription length of 3.4 months per patient and an average Medicare reimbursement rate of $3,436 per patient per month, we believe this represents an approximately $10 billion annual addressable market. In select international markets, we estimate based on patient population data collected by various third-party industry sources that there are approximately 3.7 million people each year who experience an MI, are diagnosed with heart failure, have documented VT or VF, have an inherited genetic condition, or have had their ICD temporarily explanted. Among these patients, based on the same third-party industry sources, we estimate that approximately 1.8 million patients meet the indications for WCD therapy. Based on estimated average WCD wear prescription length in these international markets of 2.5 months per patient and estimated average reimbursement rate of $3,000 per patient per month derived from industry data and internal estimates, we believe this represents an approximately $14 billion total annual market opportunity outside the U.S. The ASSURE WCD is the next generation of WCD therapy, delivering a safe and effective solution for patients with a design that enhances patient comfort and compliance. In addition to the ASSURE WCD, the various digital solutions and services of our Cardiac Recovery System platform include the ASSURE patient application, Kestra CareStation remote patient data platform, Heart Alert Services, and ASSURE Assist services. The ASSURE patient application engages patients with real-time mobile updates to promote compliance, while the Kestra CareStation remote patient data platform equips healthcare providers with actionable insights to support timely and informed care decisions. Heart Alert Services and ASSURE Assist services work together to enhance safety and are designed to provide critical alerts to healthcare providers for significant arrhythmias and notify emergency services when therapy is administered. This post-therapy EMS support is critical as a range of injuries, such as head injuries, soft tissue damage and bone fractures, can result from falling down after a SCA. In addition, the ASSURE wearable ECG as part of our Cardiac Recovery System platform provides monitoring and connectivity for patients no longer indicated for a WCD but who still require ongoing support while their heart continues to remodel. We believe we offer the most comprehensive and cohesive platform, with digital solutions and services that are seamlessly integrated with our ASSURE WCD, meaningfully differentiating our Cardiac Recovery System platform from the only other commercially available WCD. We are building a body of clinical evidence supporting the safety, efficacy, and benefits of the ASSURE WCD, with six publications completed to date. This growing portfolio includes our pivotal trials—the ASSURE WCD Clinical Evaluation—Detection and Safety Study (“ACE-DETECT”) and the ASSURE WCD Clinical Evaluation—Conversion Efficacy Study (“ACE-CONVERT”)—which served as the basis for our premarket approval (“PMA”). In addition, we are conducting the ASSURE WCD Clinical Evaluation—Post Approval Study (“ACE-PAS”) as part of a broader ongoing ASSURE Patient Registry. All patients prescribed the ASSURE WCD in the United States after August 5, 2022 are included in the Registry. As of January 31, 2025, our ongoing registry has enrolled over 17,000 patients, and its findings further validate the results of ACE-DETECT and ACE-CONVERT. Our most recent FDA submission from ACE-PAS from July 2024, which includes data from 5,929 patients, reported first shock conversion efficacy of approximately 96%, a low false alarm rate with only 6% of our patients experiencing a false alarm, compared to 46% for the competitor’s device, and a median daily use of 23.2 hours. These results underscore the ASSURE WCD’s competitive advantages in wearability, usability, and patient compliance, providing strong support for continued adoption. We believe this collection of real-world evidence will generate additional publications, continue to increase awareness of WCDs as a proven therapy for elevated risk cardiac patients and further demonstrate the clinical differentiation of our ASSURE WCD. We have made material investments in infrastructure to support rapid growth and scalability, specifically in our commercial organization, distribution and supply chain capabilities, as well as revenue cycle management capabilities. In the U.S., we have built a commercial sales team of approximately 70 direct sales representatives and more than 40 sales and clinical support professionals with deep expertise in cardiac rhythm management and established relationships in the cardiology and electrophysiology fields. This team is responsible for developing sales territory business plans, targeting and opening new accounts, and processing prescriptions of our ASSURE WCD. Our direct sales team is supported by a contracted team of over 250 ASSURE Patient Specialists (“APSs”) who assist patients with fitting and training. At fitting, we deliver our ASSURE WCD from our distribution network to the patient. We utilize a lease business model, and when a patient’s wear time has concluded, the device is returned for reprocessing and reintroduction into the distribution network. To support our growth, we have developed a highly scalable supply chain in collaboration with experienced, top-tier medical technology suppliers. Our substantial investment in a fleet of devices, each with a capacity for approximately three patient wears per year, are reprocessed through efficient reconditioning, which enables the business to scale with an attractive unit economic profile. Finally, our revenue cycle management capabilities streamline reimbursement processes by ensuring claims are accurately prepared and submitted according to individual payor requirements, facilitating timely collections. These capabilities are a critical asset in driving operational efficiency and supporting both patient and prescriber satisfaction. We believe our significant investments in infrastructure create a high barrier to entry that will help us protect and grow our market share. Kestra Medical Technologies, Ltd. is located in Kirkland, Washington.

4. Niagen Bioscience NASDAQ:NAGE

Niagen Bioscience, Inc. is a global bioscience company, which engages in acquiring, developing, and commercializing proprietary-based ingredient technologies. It is pioneering research on nicotinamide adenine dinucleotide (NAD+). The company’s patent portfolio includes Nicotinamide Riboside (NR) and other NAD+ precursors, which are commercialized as the flagship ingredient Niagen. It operates through the following segments: Consumer Products, Ingredients, and Analytical Reference Standards and Services. The Consumer Products segment provides finished dietary supplement products that contain the firm’s proprietary ingredients directly to consumers as well as to distributors. The Ingredients segment supplies ingredients as raw materials to the manufacturers of consumer products. The Analytical Reference Standards and Services segment includes supply of phytochemical reference standards and other research and development services. The company was founded by Mark S. Germain and Frank L. Jaksch, Jr. in 1999 and is headquartered in Los Angeles, CA.

5. Cantaloupe NASDAQ:USAT

Cantaloupe, Inc. is a software and payments company, which engages in the provision of end-to-end technology solutions for the unattended retail market. It offers Internet of Things (IoT) and machine-to-machine (M2M) services, which include the ability to remotely monitor, control, and report on the results of distributed assets containing the electronic payment solutions. The company was founded by George Raymond Jensen Jr. in January 1992 and is headquartered in Malvern, PA.

6. OMS Energy Technologies NASDAQ:OMSE

We are a growth-oriented manufacturer of surface wellhead systems, or SWS, and oil country tubular goods, or OCTG products used in the oil and gas industry. These products are primarily used for both onshore and offshore oil exploration and production, or E&P activities in the Asia Pacific and the Middle Eastern and North Africa (MENA) Regions. Our customers often operate in geographic locations where the operating environment requires wellheads, casing and tubing materials capable of meeting exact standards for temperature, pressure, corrosion, torque resistance and abrasion. Our products have been designed, manufactured and certified with the American Petroleum Standards (API) and International Organization of Standardization (ISO). Through our comprehensive and technologically advanced portfolio of SWS and OCTG, we are able to serve as a single-source supplier for our customers and respond to their demand for products. Our operations benefit from our broad, strategically positioned geographic footprint, which supports our ability to supply our (i) Specialty Connectors and Pipes and (ii) Surface wellhead and Christmas tree allowing us to serve our customers operating in the Asia Pacific and MENA Regions. We have finishing facilities in close proximity to some of our top end-users’ E&P operations, for example, we have facilities in Saudi Arabia where our largest client, Saudi ARAMCO Oil is located, which allows us to provide our customers with customized technical solutions and to synchronize our production and logistics with evolving demands. --- Our products are also exported to jurisdictions where we do not have a physical location, including countries in North and West Africa. Apart from the SWS and OCTG products, we also offer premium threading services in 5 of the 6 jurisdictions we operate in, which five jurisdictions are Indonesia, Malaysia, Thailand, Brunei and Singapore. For the six months ended September 30, 2024 (Successor), period from June 16, 2023 through March 31, 2024 (Successor), period from April 1 through June 15, 2023 (Predecessor) and financial year ended March 31, 2023 (Predecessor), these four categories constituted 93%, 93%, 87% and 88% of our revenue, respectively. --- Our Company was incorporated on December 27, 2023 under the laws of the Cayman Islands. We primarily conduct our business through our subsidiaries (i) OMS (Singapore), (ii) OMS (Saudi Arabia), (iii) OMS (Indonesia), (iv) OMS (Thailand), (v) OMS (Malaysia Holding), (vi) OMS (Malaysia OpCo) and (vii) OMS (Brunei), operating in Singapore, Saudi Arabia, Indonesia, Thailand, Malaysia and Brunei, respectively. Furthermore, through our localization efforts in collaboration with the various governments, we operate manufacturing facilities and warehouses across these six jurisdictions that we operate in. Our company has established a comprehensive quality control and assurance system for our products. All of our sites hold qualifications for both the ISO 9001 and API Q1 quality management systems. These certifications serve as the foundation for obtaining various product quality qualifications under the API. Different Basis of Accounting — It is important to note that the periods presented were prepared under different bases of accounting. The Predecessor period from April 1, 2023 through June 15, 2023 were prepared under the previous reporting structure before the MBO, whereas the Successor periods from June 16, 2023 through September 30, 2023, for the six months ended September 30, 2024 and the period from June 16, 2023 through March 31, 2024 were prepared under our current reporting structure. As a result, direct comparisons between these Predecessor and Successor periods may not be indicative of our financial performance had both periods been presented under the same basis of accounting. Investors should consider this difference when evaluating the fluctuations in our revenue, gross margin, and net profit. Our principal executive office is in Singapore.

7. Aduro Clean Technologies NASDAQ:ADUR

Aduro Clean Technologies is a developer of patented water-based technologies to chemically recycle waste plastics; convert heavy crude and bitumen into lighter, more valuable oil and transform renewable oils into higher-value fuels or renewable chemicals. Aduro Clean Technologies is based in LONDON, Ontario.

8. NANOPHASE TECHNOLOGIES NASDAQ:SLSN

Nanophase Technologies Corporation provides engineered materials, formulation development, and commercial manufacturing with an integrated family of technologies in the United States. It offers surface engineered zinc oxide and titanium dioxide for sunscreens and personal care products; fully formulated cosmetics, sun care, and skin care under the Solésence brand name; and advanced materials products, such as architectural coatings, industrial coatings, abrasion-resistant additives, plastics additives, medical diagnostics, and various surface finishing technologies applications. The company was incorporated in 1989 and is headquartered in Romeoville, Illinois.

9. SANUWAVE Health NASDAQ:SNWV

SANUWAVE Health, Inc., a shock wave technology company, researches, develops, and commercializes noninvasive, high-energy, and acoustic shock waves for regenerative medicine and other applications in the United States and internationally. Its shockwaves are used to produce a biological response resulting in the body healing itself through the repair and regeneration of tissue, and musculoskeletal and vascular structures. The company's lead regenerative product is the dermaPACE device for treating diabetic foot ulcers. Its portfolio of healthcare products and product candidates activate biologic signaling and angiogenic responses, including new vascularization and microcirculatory improvement, which helps to restore the body's normal healing processes and regeneration. The company also focuses on applying its Pulsed Acoustic Cellular Expression technology in wound healing, orthopedic, plastic/cosmetic, and cardiac conditions. In addition, it offers UltraMIST, non-contact and non-thermal ultrasound therapy device used to treat diabetic foot ulcers, pressure ulcers, venous leg ulcers, deep tissue pressure injuries, and surgical wounds; and orthoPACE system to treat tendinopathies and acute and nonunion fractures. The company was founded in 2005 and is headquartered in Suwanee, Georgia.

10. Cara Therapeutics NASDAQ:TVRD

Cara Therapeutics, Inc., an early commercial-stage biopharmaceutical company, focuses on developing and commercializing chemical entities with a primary focus on pruritus and pain by selectively targeting kappa opioid receptors in the United States. The company is developing product candidates that target the body's peripheral nervous system and immune cells. The company's lead product is KORSUVA (difelikefalin) injection for the treatment of moderate-to-severe pruritus associated with chronic kidney disease (CKD) in adults undergoing hemodialysis. Its product candidate includes Oral KORSUVA (difelikefalin), which has completed Phase II clinical trial to treat pruritus atopic dermatitis and pruritus non-dialysis-dependent chronic kidney disease (NDD-CKD) associated pruritus; and in Phase II clinical trial to treat pruritus chronic liver disease (CLD) primary biliary cholangitis (PBC) and notalgia paresthetica. The company has license agreements with Maruishi Pharmaceutical Co., Ltd to develop, manufacture, and commercialize drug products containing difelikefalin for acute pain and uremic pruritus in Japan; and Chong Kun Dang Pharmaceutical Corporation to develop, manufacture, and commercialize drug products containing difelikefalin in South Korea. Cara Therapeutics, Inc. was incorporated in 2004 and is based in Stamford, Connecticut.

11. WF NASDAQ:WFF

We are a manufacturer of fiberglass reinforced plastic, or FRP, products based in Malaysia. For over 30 years, we have been providing high-quality and durable FRP products to various industries, including, among others, chemical processing, water and wastewater treatment, and power generation. Our products range from tanks, pipes, ducts, gratings and other custom-made FRP products. We use advanced production technology and equipment and have obtained various certifications, including an ISO 9001:2015 certification from NQA. Our manufacturing capabilities allow us to design and fabricate products that meet the specific needs of our clients, ensuring high-quality and reliable performance. Our corporate address is in Selangor, Malaysia.

12. Faraday Future Intelligent Electric NASDAQ:FFAI

Faraday Future Intelligent Electric Inc. engages in the design, development, manufacture, engineering, sale, and distribution of electric vehicles and related products in the United States and internationally. The company was founded in 2014 and is headquartered in Gardena, California.

13. FBR & Co. NASDAQ:FBRC

FBR & Co. is an investment banking and institutional brokerage company. The Company focuses on the equity capital markets. The Company operates through two segments: capital markets, which includes investment banking, institutional brokerage and research, and principal investing. Through its broker-dealer operating subsidiaries, the Company focuses its business on providing: capital raising services, including underwriting and placement of public and private equity, equity-linked and debt securities; financial advisory services, including merger and acquisition (M&A) advisory, restructuring, liability management, recapitalization and strategic alternative analysis; institutional sales and trading services focused on equities, equity-linked securities, listed options, high-yield bonds, senior debt and bank loans, as well as securities lending activities, and differentiated securities research.

14. Friedman Industries NASDAQ:FRD

Friedman Industries, Incorporated engages in steel processing, pipe manufacturing and processing, and the steel and pipe distribution businesses the United States. It operates in two segments, Coil and Tubular. The Coil segment is involved in the conversion of steel coils into flat sheet and plate steel cut to customer specifications and reselling steel coils. This segment also processes customer-owned coils on a fee basis. The company sells coil products and processing services to approximately 200 customers located primarily in the midwestern, southwestern and southeastern regions of the United States. Its principal customers for these products and services are steel distributors and customers manufacturing steel products, such as steel buildings, railroad cars, barges, tanks and containers, trailers, component parts and other fabricated steel products. The Tubular segment manufactures line and oil country pipes, as well as pipes for structural applications. This segment sells its tubular products principally to steel and pipe distributors through its own sales force. The company was incorporated in 1965 and is headquartered in Longview, Texas.

15. ESPEY MFG & ELECTRONICS NYSE:ESP

Espey Mfg. & Electronics Corp., a power electronics design and original equipment manufacturing company, designs, manufactures, and tests electronic equipment primarily for use in military and industrial applications in the United States and internationally. The company's principal products include power supplies, power converters, filters, power transformers, magnetic components, power distribution equipment, UPS systems, antennas, and high-power radar systems for use in AC and DC locomotives, shipboard power, shipboard radar, airborne power, ground-based radar, and ground mobile power applications. It also provides various services comprising design and development to specification, build to print, design services, design studies, environmental testing services, metal fabrication, painting services, and development of automatic testing equipment. In addition, the company produces individual components, such as inductors, printed circuit boards, wires, and tests items. It serves industrial manufacturers and defense companies, the government of the United States, foreign governments, and foreign electronic equipment companies through its direct sales organization and outside sales representatives. The company was incorporated in 1928 and is based in Saratoga Springs, New York.

16. Luda Technology Group NYSE:LUD

We are a manufacturer and trader of stainless steel and carbon steel flanges and fittings products. Our history began with Luda HK which was incorporated in Hong Kong in 2004 and is principally engaged in the trading of steel flanges and fittings. In 2005, the Company’s business expanded further upstream when Luda PRC was set up to commence the manufacturing of flanges and fittings with self-owned factory in China. We have established an operation history of over 20 years. We are principally engaged in (i) the manufacture and sale of stainless steel and carbon steel flanges and fittings products; and (ii) trading of steel pipes, valves, and other steel tubing products. We are headquartered in Hong Kong with manufacturing base in Taian City, Shandong Province of the PRC. Our sales network comprises customers from China, South America, Australia, Europe, Asia (excluding China) and North America and our customers comprise manufacturers and traders from the chemical, petrochemical, maritime and manufacturing industries. Our principal office is located in Hung Hom, Kowloon, Hong Kong.

17. Maxpro Capital Acquisition NASDAQ:JMAC

Maxpro Capital Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2021 and is based in Taipei City, Taiwan.

18. Leishen Energy NASDAQ:LSE

Leishen Cayman is a holding company incorporated in the Cayman Islands. As a holding company with no material operations of its own, Leishen Cayman conducts substantially all of the operations through its Operating Subsidiaries. Our primary office is located in Beijing, China, from which we serve a large customer base throughout the PRC. Our Group comprises 12 subsidiaries, established in, having branches, offices or customer service centers in the Xinjiang, Sichuan, Shandong and Jiangsu provinces of China, as well as Hong Kong. --- The Leishen Group was founded in 2007 and is a provider of clean-energy equipment and integrated solutions for the oil and gas industry, with a commitment to providing customers with high-performance, safe and cost-effective energy solutions. Our businesses include (i) designing and supplying equipment for the clean-energy industry; (ii) oil and gas engineering technical services; (iii) new energy production and operation; and (iv) digitalization and integration equipment. At present, the Group holds more than 75 patents and software copyrights, forming a comprehensive ecosystem of core technical capabilities. Currently, our business operations have expanded to many countries and regions, such as Central Asia, and Southeast Asia, and our service abilities and quality have been widely recognized and praised by foreign customers. Efficient, safe and energy-saving equipment combined with professional technical services have enabled our brand to gain positive attention and recognition from our customers and enabled us to become a well-known equipment and services provider in the oil and gas industry. --- Our two manufacturing plants are in Chengdu, Sichuan province, PRC. Two of our primary Operating Subsidiaries, ZJY Technologies Co., Ltd. and China Oil Blue Ocean Petroleum Technology Inc. were founded in 2007, and we have over 16 years of operational history. Throughout our operating history, we continued to establish other Operating Subsidiaries as we expanded our global footprint and business lines in the 2010s and 2020s. Leishen Cayman was incorporated under the laws of Cayman Islands on October 19, 2022, as the holding company of our Group. We are also in the process of establishing overseas customer service centers in Dubai to cover the Middle East, Kazakhstan to cover the Central Asia, Chad to cover the West Africa and Indonesia to cover the Southeast Asia regions. BUSINESS SEGMENTS Through more than 16 years of operating history in the oil and gas industry, we have accumulated substantial experience and proprietary know-how, and are applying our hard-earned expertise into our businesses, which are divided into the following four segments: Clean-Energy Equipment Based on the different needs of customers and varying production environments, we design customized solutions for our clients, and supply our customers with a wide variety of equipment, such as reciprocating compressor units, hydrogen compressors, expansion units, wellhead heating systems (electromagnetic/solar energy), wellhead safety control systems, oil-water separation systems, natural gas online sampling systems, oil and gas skid-mounted equipment, expansion differential pressure power generation equipment, solar furnace, polymer flexible composite pipes and low temperature automation instruments. Revenues from sales of our clean-energy equipment were $39,581,383 and $18,697,671 for the years ended September 30, 2023 and 2022, and $21,184,069 and $12,010,158 for the six months ended March 31, 2024 and 2023, respectively. Gross profit for our clean-energy equipment sales increased by $5,636,192 to $11,867,463 for the year ended September 30, 2023, compared to $6,231,271 in 2022, and increased by $4,742,868 to $8,158,215 for the six months ended March 31, 2024, compared to $3,415,347 for the six months ended March 31, 2023. Oil and Gas Engineering Technical Services We provide customers with a broad range of products and technical solutions for oil and gas production to meet the different needs of oilfield users and production site geographical conditions, and achieve clients’ objectives for production maximization, cost reduction and operational reliability. More specifically, we design and customize various pressurization gas injection units, coupled with ancillary services such as equipment leasing, technical personnel support and remote expert product diagnosis, in order to help our customers attain heightened productivity and efficiency. We also offer various types of professional services, such as equipment maintenance, spare parts supply, upgrading and customization, and other technical services to our customers. Leveraging on our long-term cooperative relationships with world-renowned brand owners, we can establish a spare parts reserve warehouse at the customer’s site to provide integrated and timely operation support for the transportation, maintenance, repair, and troubleshooting of the user’s on-site equipment. Revenues from our oil and gas field engineering technical services were $6,933,984 and $5,949,349 for the years ended September 30, 2023 and 2022, and $3,005,168 and $3,219,672 for the six months ended March 31, 2024 and 2023, respectively. Gross profit for our oil and gas field engineering technical services segment increased to $5,841,824 for the year ended September 30, 2023 from $4,966,560 in 2022, and decreased to $1,919,484 for the six months ended March 31, 2024, compared to $2,654,054 for the six months ended March 31, 2023. New Energy Production and Operation We focus on the planning and operation of LNG and CNG processing and sales, and new energy industries We are committed to providing customers with natural gas and other multi-category clean-energy resources, providing integrated solutions and developing diversified products and operational services centered around customer needs. Revenues from sales of new energy were $23,204,437 and $17,713,342 for the years ended September 30, 2023 and 2022, and $14,000,065 and $11,948,300 for the six months ended March 31, 2024 and 2023, respectively. Gross profit for sales of new energy decreased by $1,248,361 to $459,218 for the year ended September 30, 2023, compared to $1,707,579 for 2022, and decreased by $135,357 to $432,009 for the six months ended March 31, 2024, compared to $567,366 for the six months ended March 31, 2023. Digitalization and Integration Equipment Leveraging on our years of practical experience in the oil and gas industry, and in anticipation of future trends of industrial interconnectivity, our Digitalization and Integration business is designed to provide informatization solutions for the industry chain which is being met with industrial intelligence, mobility, industrial interconnection and big data trends. At present, this business segment is centered on creating digitally managed oilfields (equipped with predictive technologies for the maintenance and management of equipment, health, safety and environment monitoring and intelligent inspection, intelligent central control rooms etc.), digitalized oil and gas transportation, intelligent manufacturing and warehousing, and intelligent hardware. Revenues from sales of our digitalization and integration equipment were $3,364,644 and $4,356,143 for the years ended September 30, 2023 and 2022, respectively, and $1,694,214 and $2,052,231 for the six months ended March 31, 2024 and 2023. Gross profit for our digitalization and integration equipment sales decreased by $419,589 to $210,536 for the year ended September 30, 2023, compared to $630,125 in 2022, and increased by $349,690 to $410,449 for the six months ended March 31, 2024, compared to $60,759 for the six months ended March 31, 2023. Our principal executive office is located at 103 Huizhong Li, B Building, Peking Times Square, Unit 15B10, Chaoyang District, Beijing, China. Our registered office in the Cayman Islands is at 89 Nexus Way, Camana Bay, Grand Cayman, KY1-9009, Cayman Islands. The legal name of Leishen Cayman is Leishen Energy Holding Co., Ltd. Our agent for service of process in the United States is Puglisi & Associates at 850 Library Avenue, Suite 204, Newark, Delaware.

19. Allovir NASDAQ:KLRS

Allovir, Inc., a clinical-stage cell therapy company, engages in the research and development of allogeneic, off-the-shelf multi-virus specific T cell (VST) therapies to prevent and treat devastating viral-associated diseases. The company's lead product is posoleucel, an allogeneic, off-the-shelf VST therapy, to treat BK virus, cytomegalovirus, adenovirus, Epstein-Barr virus, human herpesvirus 6, and JC virus. Its preclinical and clinical development product candidates include ALVR106 for the respiratory syncytial virus, influenza, parainfluenza virus, and human metapneumovirus; ALVR109 to treat SARS-CoV-2 and COVID-19; ALVR107 for treating hepatitis B; and ALVR108. The company was formerly known as ViraCyte, Inc. and changed its name to Allovir, Inc. in May 2019. Allovir, Inc. was founded in 2013 and is based in Waltham, Massachusetts.

20. Semilux International NASDAQ:SELX

Semilux International Ltd., an optical technology company, designs and produces optics and fluorescent modules. It offers laser lights modules and related optical components use in commercial projectors, car lights, and optical sensors; laser lights module consists of laser diodes and fluorescent chips; color filters use in optical/laser modules; color filter wheels; fluorescent chip and wheel; and wafer level optics. The company was founded in 2009 and is headquartered in Taichung, Taiwan.

21. Captivision NASDAQ:CAPT

Captivision Inc. engages in the development and manufacture of an architectural media glass product called G-Glass which is an IT-enabled construction material capable of transforming buildings into digital media devices. The company was founded on February 24, 2023 and is headquartered in Nailsworth, the United Kingdom.

22. Mana Capital Acquisition NASDAQ:MAAQ

Mana Capital Acquisition Corp. focuses on engaging in a merger, stock exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. It intends to focus on businesses operating in the healthcare, technology, green economy, and consumer products sectors in North America, Europe, and Asia. The company was incorporated in 2021 and is based in Dover, Delaware.

23. Welsbach Technology Metals Acquisition NASDAQ:WTMA

Welsbach Technology Metals Acquisition Corp. does not have significant operations. The company intends to effect a merger, stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on the technology metals and energy transition metals markets. Welsbach Technology Metals Acquisition Corp. was incorporated in 2021 and is based in Lombard, Illinois.

24. OSR NASDAQ:OSRH

OSR Holdings leverages its international network of partners in the US, Europe, and South Korea to market and license its pipeline of proprietary platform technologies for broad application to efficient clinical trial programs, with the ultimate goal of addressing unmet medical needs. We partner with biotherapeutics companies with innovative and proprietary drug R&D "platform technologies" versus "assets only" companies, whose commercial viability is heavily dependent on positive results for individual treatment modalities in extremely rigorous and time consuming clinical trials. We focus on value creation through investments and collaborations with US and EU biotech companies, with the strategic goal of expansion into South Korea (specifically) and Asia (generally). OSR Holdings is headquartered in Paju, South Korea.

25. Picocela NASDAQ:PCLA

PicoCELA, Inc. engages in the manufacturing, installation, and services for enterprise wireless mesh solutions. It also offers wireless multi-hop relay devices. The company was founded by Hiroshi Furukawa on August 8, 2008 and is headquartered in Tokyo, Japan.

26. Aspire Biopharma NASDAQ:ASBP

Aspire Biopharma Holdings, Inc., early-stage biopharmaceutical company, engages in developing and marketing of disruptive technology for delivery mechanisms for do no harm drugs in the United States. The company provides Sublingual Aspirin Product, which addresses cardiology emergencies and pain management. It develops formulation for a sublingually administered melatonin sleep-aid product; vitamins D, E, and K; testosterone; and semaglutide, as well as formulations for anti-nausea products, anti-psychotic products, ED drugs, seizure medication, and several other classes of drugs. The company was founded in 2021 and is based in Humacao, Puerto Rico.

27. FST NASDAQ:KBSX

FST Corp. designs, manufactures, markets, and distributes steel golf shafts to golf club original equipment manufacturers and distributors worldwide. The company offers steel shafts under the KBS brand name. FST Corp.is based in Chiayi, Taiwan.

28. Solidion Technology NASDAQ:STI

Solidion Technology Inc. engages in the development and supply of battery materials, components, cells, and selected module/pack technologies. Its products include advanced anode materials; three classes of solid-state batteries, including silicon-rich all-solid-state lithium-ion cells; anode less lithium metal cells; and lithium-sulfur cells. The company was formerly known as Honeycomb Battery Company and changed its name to Solidion Technology Inc. in February 2024. The company was incorporated in 2014 and is based in Dayton, Ohio. Solidion Technology Inc. operates as a subsidiary of Global Graphene Group, Inc.

29. Sacks Parente Golf NASDAQ:NWTG

Sacks Parente Golf, Inc. (“SPG”) is a technology-forward golf company, with a growing portfolio of golf products, including putting instruments, golf shafts, golf grips, and other golf-related products. In April 2022, in consideration of our growth opportunities in shaft technologies, we expanded our manufacturing business to include advanced premium golf shafts by opening a new shaft manufacturing facility in St. Joseph, MO. We intend to manufacture and assemble substantially all products in the United States. We anticipate expanding into golf apparel and other golf related product lines to enhance our growth. Our future expansions may include broadening our offerings through mergers, acquisitions or internal developments of product lines that are complementary to our premium brand. Product Portfolio Characteristics We design, manufacture and sell technology-forward, high-quality golf equipment, which is comprised of putting instruments, golf shafts, golf grips and related product groups. We design our golf products to fit golfers of all skill levels, amateur and professional, and our products are designed with the goal of conforming to the Rules of Golf as published by the United States Golf Association (“USGA”) and the ruling authority (“The R&A”). Our Products Our equipment includes putting instruments, golf shafts and grips. Our putting instruments are generally made of steel, aluminum, titanium alloys, carbon fiber, tungsten, and various other materials, including our patented magnesium face plate technologies. All of our products are currently sold under the SPG brand, but we intend to private label and sell certain components to interested third parties. Our shaft and putter technology has been shown by The Golf Lab, a Canadian golf research and education provider, to improve players’ ability to make putts, feel of the putter head, stroke, face angle at impact, and consistency for distance control. Our management believes that our proprietary shaft designs can enhance the performance of players’ putters as well as drivers and other golf clubs. Further, our management believes that these innovative designs, along with our proprietary manufacturing techniques, create performance improvements over traditional golf shafts. We were formed in 2018 as Sacks Parente Golf Company, LLC, a Delaware limited liability company. On March 18th, 2022, we converted into a Delaware corporation named Sacks Parente Golf, Inc. Sacks Parente Golf, Inc. 551 Calle San Pablo Camarillo, CA.

30. Linkers Industries NASDAQ:LNKS

Linkers Industries Ltd. is a holding company, which engages in the business of manufacturing, supplying, and selling connectors, assemblies, wire, and cable harnesses. It operates through the following geographical segments: Thailand, Malaysia, Switzerland, the United States of America, and Others. The company was founded on December 8, 2022 and is headquartered in Sungai Petani, Malaysia.

31. Bellevue Life Sciences Acquisition NASDAQ:BLAC

Bellevue Life Sciences Acquisition Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses or entities in the healthcare industry. The company was incorporated in 2020 and is based in Bellevue, Washington. Bellevue Life Sciences Acquisition Corp. operates as a subsidiary of Bellevue Global Life Sciences Investors LLC.

32. Organovo NASDAQ:VIVS

Organovo Holdings, Inc., a biotechnology company, focuses on developing 3D tissues that recapitulate key aspects of human disease. Its 3D human tissue platform includes its proprietary NovoGen Bioprinters, which are automated devices that enable the fabrication of 3D living tissues comprised mammalian cells; and related technologies for preparing bio-inks and bioprinting multicellular tissues with complex architecture. The company offers ExVive human liver tissue and ExVive human kidney tissue used for predictive preclinical testing of drug compounds. It is also developing in vivo liver tissues to treat end-stage liver, life-threatening, and orphan diseases. The company was incorporated in 2007 and is headquartered in Solana Beach, California.

33. INVO Fertility NASDAQ:IVF

NAYA Biosciences (NASDAQ: NAYA) is a life science portfolio company dedicated to bringing breakthrough treatments to patients in oncology, autoimmune diseases, and fertility. Our hub & spoke model harnesses the shared resources of a parent company and agility of lean strategic franchises, enabling efficient acquisition, development, and partnering of assets as well as optimized return on investment by combining the upside of innovative clinical-stage therapeutics with scalable, profitable commercial revenues. NAYA’s expanding portfolio of assets currently includes NY-303, a GPC3 and NKp46 targeting bispecific antibody for the treatment of hepatocellular carcinoma (HCC) with a unique mode of action targeting non-responders to the current immunotherapy standard of care (approximately 70% of the current treatable market) cleared to enroll patients in a Phase I/II monotherapy trial in early 2025, NY-338, a CD38 and NKp46 targeting bispecific antibody for the treatment of multiple myeloma and autoimmune diseases with a differentiated safety and efficacy profile, and INVOcell®, an FDA-approved fertility device which has demonstrated comparable success rates to traditional In Vitro Fertilization (IVF).

34. PowerUp Acquisition NASDAQ:PWUP

PowerUp Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on video gaming, gaming adjacent, and metaverse businesses. PowerUp Acquisition Corp. was incorporated in 2021 and is based in New York, New York.

35. Palatin Technologies NYSE:PTN

Palatin Technologies, Inc., a biopharmaceutical company, develops targeted receptor-specific therapeutics for the treatment of various diseases in the United States. The company's lead product is Vyleesi, a melanocortin receptor (MCr) agonist for the treatment of premenopausal women with hypoactive sexual desire disorder. It is also developing oral PL8177, a selective MC1r agonist peptide that has completed Phase I clinical trial for the treatment of inflammatory bowel diseases. In addition, the company engages in the development of PL9643, a peptide melanocortin agonist active at multiple MCrs, including MC1r and MC5r for anti-inflammatory ocular indications, such as dry eye disease; and melanocortin peptides for diabetic retinopathy. Further, it is developing PL3994, a natriuretic peptide receptor (NPR)-A agonist and synthetic mimetic of the endogenous neuropeptide hormone atrial natriuretic peptide for cardiovascular indications; and PL5028, an NPR-A and NPR-binder to treat cardiovascular and fibrotic diseases, including reducing cardiac hypertrophy and fibrosis. The company was incorporated in 1986 and is based in Cranbury, New Jersey.

36. Bon Natural Life NASDAQ:BON

Bon Natural Life Limited, together with its subsidiaries, engages in the research and development, manufacture, and sale of functional active ingredients extracted from natural herb plants in the People's Republic of China and internationally. The company provides personal care ingredients, such as plant extracted fragrance compounds to perfume and fragrance manufacturers; natural health supplements comprising powder drinks and bioactive food ingredient products primarily used as food additives; and nutritional supplements. Its products are principally used by manufacturer customers in the functional food, personal care, cosmetic, and pharmaceutical industries. The company was founded in 2006 and is headquartered in Grand Cayman, the Cayman Islands.

37. Capstone NASDAQ:CAPS

Capstone Therapeutics Corp., a biotechnology company, develops novel peptides and other molecules for helping patients with under-served medical conditions in the United States. It develops Apo E mimetic peptide molecule AEM-28 and its analogs that have completed Phase Ia and Phase Ib/IIa clinical trials for lipoprotein metabolism. The company was formerly known as OrthoLogic Corp. and changed its name to Capstone Therapeutics Corp. in May 2010. Capstone Therapeutics Corp. was founded in 1987 and is headquartered in Tempe, Arizona.

38. Universe Pharmaceuticals NASDAQ:UPC

Universe Pharmaceuticals INC, a pharmaceutical company, engages in the manufacture, marketing, distribution, and sale of traditional Chinese medicine derivative products in China. It offers products for the treatment of common chronic health conditions in the elderly for physical wellness and longevity; and cold and flu medications. The company also distributes and sells third-party producers, including biomedical drugs, medical instruments, traditional Chinese medicine pieces products, and dietary supplements. Its customers include pharmaceutical companies, hospitals, clinics, and drugstore chains. The company was incorporated in 2019 and is based in Ji'An, China. Universe Pharmaceuticals INC is a subsidiary of Sununion Holding Group Limited.

39. J-Star NASDAQ:YMAT

40. Welsbach Technology Metals Acquisition NASDAQ:WTMAR

Welsbach Technology Metals Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on the technology metals and energy transition metals sectors. Welsbach Technology Metals Acquisition Corp. was incorporated in 2021 and is based in Lombard, Illinois.

41. TradeUP Acquisition NASDAQ:UPTDW

Estrella Immunopharma, Inc., a preclinical-stage biopharmaceutical company, develops T-cell therapies for blood cancers and solid tumors in the United States. The company's lead product candidates include EB103 for the treatment of diffuse large B-cell lymphoma and is in pre clinical trial; and EB104 to treat diffuse large B-cell lymphoma and acute lymphocytic leukemia. It has a collaborative partnership with Imugene Limited for the development of solid tumor treatments using Imugene's product candidate CF33-CD19t in conjunction with EB103. Estrella Immunopharma, Inc. is based in EmeryVille, California.

42. Palladyne AI NASDAQ:STRCW

Palladyne AI Corp., a software company, focuses on delivering software that enhances the utility and functionality of third-party stationary and mobile robotic systems in the United States. Its Artificial Intelligence (AI)/ Machine Learning (ML) software platform enables robots to observe, learn, reason, and act in structured and unstructured environments. The company's software platform enables robotic systems to perceive their environment and quickly adapt to changing circumstances by generalizing from their experience using dynamic real-time operations without extensive programming and with minimal robot training. It serves customers from various industries, such as industrial manufacturing, warehousing and logistics, defense, infrastructure maintenance and repair, energy, aerospace and aviation, and others. The company was formerly known as Sarcos Technology and Robotics Corporation and changed its name to Palladyne AI Corp. in March 2024. Palladyne AI Corp. was founded in 2017 and is headquartered in Salt Lake City, Utah.

43. Rosecliff Acquisition Corp I NASDAQ:RCLFW

Spectral AI, Inc. operates as an artificial intelligence (AI) company. The company focuses on medical diagnostics for faster and accurate treatment decisions in wound care with applications involving patients with burns and diabetic foot ulcers. Its products include DeepView, a predictive diagnostic device that offers clinicians an objective and immediate assessment of a wound's healing potential prior to treatment or other medical intervention. The company is based in Dallas, Texas.

44. Psyence Biomedical NASDAQ:PBMWW

45. NorthView Acquisition NASDAQ:NVACR

NorthView Acquisition Corporation does not have significant operations. The company intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. It also intends to focus its search on businesses that are focused on healthcare sector. The company was incorporated in 2021 and is based in New York, New York. NorthView Acquisition Corporation operates as a subsidiary of NorthView Sponsor I, LLC.

46. Neonc Technologies NASDAQ:NTHI

Neonc Technologies Holdings, Inc. develops novel molecular technology that provides enhanced targeted delivery of technologies for treating central nervous system diseases. Its lead products in development include NEO100, which is in Phase 2a clinical trials for treating glioblastoma; and NEO212, a covalently conjugated molecule combining the chemotherapeutic drug temozolomide with perillyl alcohol that is completed preclinical testing. The company was incorporated in 2023 and is based in Los Angeles, California.

47. 4D pharma NASDAQ:LBPSW

4D pharma plc, together with its subsidiaries, engages in the research, development, and production of live biotherapeutic products. The company develops therapeutic candidates, such as MRx0518; MRx-4DP000 for the treatment of asthma and COVID-19; MRx0029 the treatment of central nervous system disorders; Blautix for irritable bowel syndrome; and Thetanix for pediatric crohn's disease. It also develops products candidates, including MRx1299 for solid tumors, MRx0005 for neurodegeneration, MRx0006 for rheumatoid arthritis, and MRx0002 for multiple sclerosis. The company develops MicroRx platform to discover new LBP candidates for major diseases. 4D pharma plc has a collaboration agreement with Merck & Co., Inc. to conduct a clinical trial evaluating the combination of Keytruda and MRx0518 in patients with solid tumors. The company was formerly known as Schosween 18 Limited. 4D pharma plc was incorporated in 2014 and is headquartered in Leeds, the United Kingdom.

48. Jupiter Wellness NASDAQ:JUPWW

jupiter wellness, inc. operates as a hemp-derived cannabidiol (cbd) consumer product development company. it develops various therapeutic and medical use for cbd in the treatment of various ailment and diseases, such as cancer, arthritis, anxiety, insomnia, psoriasis, chronic pain, and others. the company markets cbd-infused sun care lotion formulas containing various sun protection factors under the canisun brand. it is also developing other products, such as cbd-infused skin care lotion under the caniskin brand; and dermatological treatments under the canidermrx brand. the company was formerly known as cbd brands, inc. jupiter wellness, inc. was founded in 2018 and is headquartered in jupiter, florida.

49. G Medical Innovations NASDAQ:GMVDW

G Medical Innovations Holdings Ltd, together with its subsidiaries, an early commercial stage healthcare company, engages in the development of next generation mobile health and telemedicine solutions in the United States, China, and Israel. The company's products include Prizma, a plug-and-play medical device that measures vital signs with electronic medical records functionality and clinical grade reporting standards; and Extended Holter Patch System, a multi-channel patient-worn biosensor that captures electrocardiogram data continuously for up to 14 days. It also develops Wireless Vital Signs Monitoring System, a solution that provides continuous real time monitoring of vital signs and biometrics. In addition, it offers monitoring services, including independent diagnostic testing facility monitoring and private monitoring services. The company was incorporated in 2014 and is based in Rehovot, Israel.

50. Fidelity Select Wireless NASDAQ:FWRLX