A handful of companies are scheduled to go public on US exchanges in the coming week.
REIT SmartStop Self Storage (SMA) plans to raise $851 million at a $1.7 billion market cap. The company owns and operates a portfolio 208 self storage properties in the US and Canada. It is the tenth largest owner and operator of self storage properties in the US, according to the Inside Self Storage Top-Operators List for 2024. SmartStop plans to make monthly distributions (5.1% annualized yield at the midpoint).
Singapore-based Bgin Blockchain (BGIN) plans to raise $50 million at a $652 million market cap. Bgin is a digital asset technology company with proprietary cryptocurrency mining technologies and a strategic focus on alternative cryptocurrencies. The company has delivered explosive growth but is heavily dependent on emergent coins, which have been volatile.
Oil & gas equipment maker OMS Energy Technologies (OMSE) plans to raise $50 million at a $399 million market cap. The company manufactures surface wellhead systems and oil country tubular goods, primarily for onshore and offshore E&P activities. OMS has a 10-year agreement with Saudi Aramco, which accounts for a majority of the company’s revenue.
While not included below, conservative news channel Newsmax Media (NMAX) plans to list on the NYSE in the coming week after completing its Regulation A+ offering.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Bgin Blockchain (BGIN) | $50M $652M | $7 - $9 6,250,000 | Chardan Benchmark |
| Makes equipment for cryptocurrency mining with a focus on alternative coins. | |||
| OMS Energy Technologies (OMSE) | $50M $399M | $8 - $10 5,555,556 | Roth Cap. |
| Singapore-based manufacturer of surface wellhead systems and oil country tubular goods. | |||
| SmartStop Self Storage (SMA) Ladera Ranch, CA | $851M $1,742M | $28 - $35 27,000,000 | JP Morgan Wells Fargo |
| Self-storage REIT with 208 owned and managed properties in the US and Canada. | |||
Street research is expected for five companies in the week ahead, and seven 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.
This past week, we released our review of the 1Q US IPO market. Get a free preview here.
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 3/27/2025, the Renaissance IPO Index was down 11.1% year-to-date, while the S&P 500 was down 2.9%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Kenvue (KVUE) and Corebridge Financial (CRBG). The Renaissance International IPO Index was up 6.0% year-to-date, while the ACWX was up 8.0%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Galderma and Porsche.
