Just one micro-cap and one SPAC listed this past week, after oil and gas producer Peak Resources (PRB) postponed its $66 million IPO at the eleventh-hour. Eight small IPOs and two SPAC submitted initial filings.
Biomanufacturing company Invizyne Technologies (IZTC) priced its $8 million IPO at a $68 million market cap. Invizyne believes its biomanufacturing platform, SimplePath, will be an alternative to the current methods of chemical compound production. It aims to enable the production of a diverse range of chemicals, including pharmaceuticals, fuels, materials, food additives, and novel compounds. The company has not generated any revenues to date. It finished the week up 39%.
Horizon Space Acquisition II (HSPTU), the second blank check company led by Chinese executive Michael Li, raised $60 million.
| 2 IPOs During the Week of November 11th, 2024 | |||||
|---|---|---|---|---|---|
| Issuer Business | Deal Size | Market Cap at IPO | Price vs. Midpoint | First Day Return | Return at 11/15 |
| Invizyne Technologies (IZTC) | $15M | $71M | 0% | +8% | +39% |
| Developing a biomanufacturing platform for a diverse range of chemicals. | |||||
| Horizon Space Acq. II (HSPTU) | $60M | $79M | 0% | +0% | +0% |
| Second blank check company led by Chinese executive Michael Li. | |||||
Sign up for a free trial of our premium platform, IPO Pro. To get our IPO calendar in your inbox, register here.
Eight small IPOs submitted initial filings this past week, all hailing from the Asia Pacific region. Japan-based real estate developer LogProstyle (LGPS) filed to raise $13 million at a $121 million market cap. Singapore-based adtech firm Knorex (KNRX) filed to raise $12 million at a $141 million market cap. China-based consumer goods producer MaxsMaking (MAMK) filed to raise $9 million at a $77 million market cap. Singapore-based oil products trader Delixy Holdings (DLXY) filed to raise $9 million at a $74 million market cap. Hong Kong steelwork contractor OneConstruction Group (ONEG) filed to raise $9 million at a $65 million market cap. Singapore-based business services provider Smart Digital Group (SDM) filed to raise $8 million at a $133 million market cap. Hong Kong restaurant group MasterBeef Group (MB) filed to raise $8 million. Hong Kong insurance distributor QDM International (QDMI) filed to raise $8 million.
Two SPACs submitted initial filings this week. FPA Energy Acquisition (FPAQU) filed to raise $100 million to target the waste-to-energy industry. Columbus Acquisition (COLAU), led by Chinese executives, filed to raise $58 million.
| 10 Filings During the Week of November 11th, 2024 | |||
|---|---|---|---|
| Issuer Business | Deal Size | Sector | Lead Underwriter |
| Columbus Acquisition (COLAU) | $58M | SPAC | A.G.P. |
| Blank check company led by Chinese executives. | |||
| Delixy Holdings (DLXY) | $9M | Energy | Bancroft Capital |
| Trades crude oil and oil-based products in Southeast and East Asia. | |||
| LogProstyle (LGPS) | $13M | Real Estate | Spartan Capital |
| Real estate developer and property manager in Japan. | |||
| MaxsMaking (MAMK) | $9M | Consumer Discretionary | Joseph Stone |
| Chinese manufacturer of customized consumer goods. | |||
| OneConstruction (ONEG) | $9M | Industrials | ATIS |
| Structural steel construction company based in Hong Kong. | |||
| FPA Energy Acquisition (FPAQU) | $100M | SPAC | I-Bankers |
| Blank check company targeting the waste-to-energy industry. | |||
| Knorex (KNRX) | $12M | Technology | Maxim |
| Singapore-based provider of programmatic advertising software. | |||
| MasterBeef (MB) | $8M | Consumer Discretionary | Revere Sec. |
| Operates 12 Taiwanese hotpot and barbecue restaurants in Hong Kong. | |||
| QDM International (QDMI) | $8M | Financials | Aegis Cap. |
| Insurance distributor in Hong Kong. | |||
| Smart Digital (SDM) | $8M | Technology | Network 1 |
| Singapore-based provider of internet marketing and other services. | |||
Sign up for a free trial of our premium platform, IPO Pro. To get our IPO calendar in your inbox, register here.
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 11/14/2024, the Renaissance IPO Index was up 20.9% year-to-date, while the S&P 500 was up 26.2%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Nu Holdings (NU) and Kenvue (KVUE). The Renaissance International IPO Index was down 9.6% year-to-date, while the ACWX was up 7.2%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Amman Mineral Internasional and Porsche.
