The calendar slowed down this past week, with only small listings in the US. One qualified for inclusion in our IPO stats.
Diagnostics company Anbio Biotechnology (NNNN) priced at the low end to raise $8 million at a $219 million market cap. Headquartered in Germany with international subsidiaries, Anbio develops in vitro diagnostics products for OTC, point-of-care settings, and laboratory applications. Its products are designed for an array of conditions. Revenue fell sharply in 2023 due to a decline in COVID-related products. Anbio finished up 15%.
While not included below, Wellgistics Health (WGRX) priced at the low end to raise $4 million at a $234 million market cap. Wellgistics finished down 15%.
| 1 IPO During the Week of February 17th, 2025 | |||||
|---|---|---|---|---|---|
| Issuer Business | Deal Size | Market Cap at IPO | Price vs. Midpoint | First Day Return | Return at 02/21 |
| Anbio (NNNN) | $8M | $219M | -9% | +15% | +15% |
| Developer of in vitro diagnostics products. | |||||
There was one sizable filing this past week. Aerospace and defense company AIRO Group Holdings (AIRO) filed for a $100 million IPO.
| 7 Filings During the Week of February 17th, 2025 | |||
|---|---|---|---|
| Issuer Business | Deal Size | Sector | Lead Underwriter |
| AI Assets (AIAS) | $9M | Technology | Univest Sec. |
| Provides an AI-enabled investment assistant app in Singapore. | |||
| AIRO (AIRO) | $100M | Industrials | Cantor Fitz. |
| Provides aerospace, autonomy, and air mobility technologies. | |||
| Bgin Blockchain (BGIN) | $50M | Technology | Chardan |
| Makes equipment for cryptocurrency mining with a focus on alternative currencies. | |||
| DCR Tech (DCR) | $10M | Communication Services | D. Boral Capital |
| Visual content and effects producer in China. | |||
| Tong Ying (TYZ) | $10M | Industrials | Joseph Stone |
| Hong Kong-based commodity trader focused on chemicals, metals, and agricultural products. | |||
| Blue Water Acq. III (BLUWU) | $200M | SPAC | BTIG |
| Third blank check company led by the founder of Blue Water Venture Partners targeting healthcare. | |||
| CCIS Acquisition (CCACU) | $60M | SPAC | Benjamin Securities |
| Blank check company targeting middle-market growth businesses. | |||
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 2/20/2025, the Renaissance IPO Index was up 4.3% year-to-date, while the S&P 500 was up 4.2%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Kenvue (KVUE) and Arm Holdings (ARM). The Renaissance International IPO Index was up 9.0% 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 Galderma and Porsche.
