Three IPOs are currently scheduled to list in the week ahead, although other small issuers may join the calendar during the week.
Tentatively scheduled for the week ahead, oncology biotech Adlai Nortye (ANL) plans to raise $72 million at an $896 million market cap. Operating through subsidiaries in the US and China, Adlai Nortye’s lead candidate (in-licensed from Novartis) is a kinase inhibitor designed to act against solid tumors that is currently undergoing a Phase 3 trial. The company expects to submit an NDA to the FDA seeking potential accelerated approval in the 2H24.
Sacks Parente Golf (SPGC) plans to raise $14 million at a $70 million market cap. Founded by experience golf equipment designers, Sacks Parente designs and sells golf putters, as well as shafts, grips, and head covers. Very small and highly unprofitable, the company opened a new manufacturing facility in Missouri in 2022, and intends to manufacture and assemble substantially all of its products in the US.
Nature Wood Group (NWGL), a Macau-based vertically-integrated forestry company with facilities in Peru, plans to raise $9 million at a $166 million market cap. The company produces a range of products, including logs, decking, flooring, and sawn timber. Nature Wood owns natural forest concessions and cutting rights for the exploitation of timbers in Peru, covering approximately 615,333 hectares.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Sacks Parente Golf (SPGC) Camarillo, CA | $14M $70M | $4 - $5 3,000,000 | Benchmark |
| Designs and manufactures premium golf putters. | |||
| Adlai Nortye (ANL) Grand Cayman, Cayman Islands | $72M $896M | $22 - $26 3,000,000 | Cantor Fitz. CITIC CLSA |
| Phase 3 biotech developing immunotherapies for various cancers. | |||
| Nature Wood Group (NWGL) Macau, China | $9M $166M | $9 - $11 915,000 | Orientiert XYZ Securities Prime Num. Cap. |
| Macau-based forestry company with operations in Peru. | |||
Sign up for a free trial of our premium platform, IPO Pro. Follow us on Twitter (@IPOtweet) and register for our updates on the IPO market.
Street research is expected for three companies in the week ahead, and one lock-up period will be expiring. For access to Street research and lock-up expiration dates, sign up for a free trial of IPO Pro.
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 8/10/2023, the Renaissance IPO Index was up 33.2% year-to-date, while the S&P 500 was up 17.5%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Airbnb (ABNB) and Snowflake (SNOW). The Renaissance International IPO Index was down 7.8% year-to-date, while the ACWX was up 11.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Kuaishou and Porsche.
