Two SPACs debuted this past week. Two small IPOs and three SPACs submitted initial filings this past week.
Two blank check companies priced this week: EQV Ventures Acquisition (EQVU) raised $350 million to target the energy sector, and Voyager Acquisition (VACHU) raised $220 million to target healthcare.
| 2 IPOs During the Week of August 5th, 2024 | |||||
|---|---|---|---|---|---|
| Issuer Business | Deal Size | Market Cap at IPO | Price vs. Midpoint | First Day Return | Return at 08/09 |
| EQV Ventures Acquisition (EQVU) | $350M | $446M | 0% | -1% | -1% |
| Blank check company backed by EQV Group targeting the energy sector. | |||||
| Voyager Acquisition (VACHU) | $220M | $275M | 0% | +0% | +0% |
| Blank check company targeting the healthcare sector. | |||||
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Two IPOs submitted initial filings this past week. Music venue and restaurant owner and operator Notes Live (VENU) filed to raise $12 million. Malaysia-based shrimp farm constructor Megan Holdings (MGN) filed to raise $6 million at an $81 million market cap.
Three SPACs submitted initial filings this week. Mountain Lake Acquisition (MLACU), led by the Chairman of Axos Financial, filed to raise $250 million. SilverBox IV (SBXD.U), the fourth SPAC formed by members of SilverBox Capital, filed to raise $200 million. Newbury Acquisition II (NTWOU), the second SPAC led by the CEO of Sunderland Capital, also filed to raise $200 million.
| 5 Filings During the Week of August 5th, 2024 | |||
|---|---|---|---|
| Issuer Business | Deal Size | Sector | Lead Underwriter |
| Newbury Acq. II (NTWOU) | $200M | SPAC | BTIG |
| Second blank check company led by CEO of Sunderland Capital. | |||
| SilverBox IV (SBXD.U) | $200M | SPAC | Santander |
| Fourth blank check company formed by members of SilverBox Capital. | |||
| Megan Holdings (MGN) | $6M | Industrials | EF Hutton |
| Provides construction and maintenance services for shrimp farms in Malaysia. | |||
| Mountain Lake Acquisition (MLACU) | $250M | SPAC | BTIG |
| Blank check company led by the Chairman of Axos Financial. | |||
| Notes Live (VENU) | $12M | Consumer Discretionary | ThinkEquity |
| Owns and operates music venues and restaurants. | |||
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IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 8/8/2024, the Renaissance IPO Index was up 0.8% year-to-date, while the S&P 500 was up 11.5%. 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 11.5% year-to-date, while the ACWX was up 2.7%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Barito Renewables Energy and Amman Mineral Internasional.
