Updated Monday, 9/16.
Two small US companies plan to list in New York in the week ahead, as larger IPO candidates take a wait-and-see approach to launching fall offerings. Legacy Education (LGCY) aims to raise $12 million by offering 2.0 million shares at a range of $5 to $7. The company operates career-focused healthcare colleges in California, such as High Desert Medical College. Synergy CHC (SNYR) plans to raise $20 million by offering 2.0 million shares at a range of $5 to $7. Synergy sells supplements under the brands Focus Factor and Flat Tummy, as well as beauty and skincare products.
On Monday, natural gas producer BKV (BKV) kicked off its $300 million IPO, nearly two years after its first initial filing. More sizable issuers on file are eligible to launch their IPOs in the coming week, such as metabolic disease biotech BioAge Labs (BIOA), seizure diagnostic company Ceribell (CBLL), and pre-revenue potash miner Brazil Potash (GRO).
Street research is expected for two companies in the week ahead, and two lock-up periods 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 9/12/2024, the Renaissance IPO Index was up 11.5% year-to-date, while the S&P 500 was up 18.5%. 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 6.1% year-to-date, while the ACWX was up 9.1%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Barito Renewables Energy and Amman Mineral Internasional.
