Five small listings are currently scheduled for the week ahead, although other issuers may join the calendar throughout the week.
Maritime tour operator Amphitrite Digital (AMDI) plans to raise $7 million at a $61 million market cap. The company provides in-destination tours, activities, and attractions in the continental US and US Virgin Islands, with an owned fleet of 26 luxury catamarans and power boats in the USVI and Panama City.
Japanese property reseller Metros Development (MTRS) plans to raise $6 million at a $364 million market cap. The company identifies and purchases what it believes to be underdeveloped land and buildings, and resells them to developers. As of May 31, 2023, it had real estate inventories of more than $190 million, including more than 60 material real estate inventories in excess of $1 million. The proposed IPO float is just 2.0% of basic shares outstanding.
Powersport vehicle and motor boat maker Massimo Group (MAMO) plans to raise $6 million at a $186 million market cap. Massimo Group manufactures, imports, and distributes a portfolio of products including utility terrain vehicles, all-terrain vehicles, motorcycles, scooters, golf carts, motor boats, and more. The proposed IPO float is just 3.1% of basic shares outstanding.
China-based touchscreen maker Wetouch Techonology (WETH) may raise $24 million at an $82 million market cap in the week ahead. The company develops, manufacturers, sells, and services medium to large sized projected capacitive touchscreens. Its touchscreens are used in a variety of industries, including for financial terminals, automobiles, gaming and lottery machines, and medical devices.
Advertising contract marketplace NYIAX (NYX) is also tentatively scheduled for the week ahead, aiming to raise $8 million at an $82 million market cap. Small and highly unprofitable, NYIAX’s platform utilizes blockchain technology to allow companies to list, buy, and sell advertising and audience campaigns.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Massimo Group (MAMO) Garland, TX | $6M $186M | $4 - $5 1,300,000 | Roth Cap. Craft Capital |
| Manufactures and distributes powersports vehicles and motor boats. | |||
| Amphitrite Digital (AMDI) St. Thomas, U.S. Virgin Islands | $7M $61M | $3.50 - $4.50 1,750,000 | Kingswood Cap. Mkts. |
| Provides maritime tours and activities in the continental US and US Virgin Islands. | |||
| Metros Development (MTRS) Tokyo, Japan | $6M $364M | $6.40 1,000,000 | Boustead EF Hutton |
| Purchases and resells underdeveloped properties in Japan. | |||
| NYIAX (NYX) New York, NY | $8M $82M | $4 2,106,250 | WestPark Capital EF Hutton |
| Provides an advertising marketplace and contract management platform. | |||
| Wetouch Technology (WETH) Meishan, China | $24M $82M | $5 - $7 4,000,000 | WestPark Capital Craft Capital |
| Makes medium to large sized projected capacitive touchscreens. | |||
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IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 2/8/2024, the Renaissance IPO Index was down 3.1% year-to-date, while the S&P 500 was up 4.9%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Kenvue (KVUE) and Nu Holdings (NU). The Renaissance International IPO Index was down 7.9% year-to-date, while the ACWX was down 1.2%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Wise and Porsche.
