Two IPOs are currently scheduled in the week ahead.
China-based robotaxi developer Pony AI (PONY) tentatively plans to raise $240 million at a $4.7 billion market cap in the week ahead. Through partnerships with leading OEMs, Pony AI aims to mass produce autonomous driving technology used in robotaxis, robotrucks, and more. It currently operates a fleet of over 250 robotaxis, which are licensed to operate in China’s Tier-1 cities, as well as 190 robotrucks. However, Pony AI is highly unprofitable and is likely to remain that way in the near term.
Music venue and restaurant operator Venu Holding (VENU) plans to raise $10 million at a $372 million market cap. Venu Holding currently operates two music halls and three restaurants in Colorado Springs, CO, and Gainesville, GA, and plans to open several outdoor amphitheaters, restaurants, and bars over the next two years in Colorado, Oklahoma, and Texas.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Venu Holding (VENU) Colorado Springs, CO | $10M $372M | $10 1,000,000 | ThinkEquity |
| Owns and operates music venues and restaurants. | |||
| Pony AI (PONY) Guangzhou, China | $240M $4,662M | $11 - $13 20,000,000 | Goldman (Asia) BofA |
| China-based developer of autonomous vehicle systems for robotaxis and robotrucks. | |||
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IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 11/21/2024, the Renaissance IPO Index was up 21.4% year-to-date, while the S&P 500 was up 26.3%. 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 10.6% year-to-date, while the ACWX was up 7.0%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Amman Mineral Internasional and Galderma.
