Only one SPAC is expected to price in the week ahead. The August lull may be in full effect at the moment but expect that to change after Labor Day when recent filers like Nio, Farfetch and Eventbrite can start to launch. For now, the final week of August should continue to see more initial filings targeting September IPOs.
Three recent IPOs should see research initiations this week: connected speaker maker Sonos (SONO), commercial real estate giant Cushman and Wakefield (CWK) and smart camera maker Arlo Technologies (ARLO).
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business |
Deal Size Market Cap |
Price Range Shares Filed |
Top Bookrunners |
| Longevity Acquisition (LOACU) Shanghai, China |
$40M $53M |
$10 4,000,000 |
Cantor Fitz. |
| Blank check company focused on acquiring a business in China. | |||
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Longevity Acquisition (LOACU), a blank check company focused on acquiring a business in China, plans to raise $40 million by offering 4.0 million units at $10.00. At that price, it would command a market value of $53 million. The Shanghai, China-based company plans to list on the Nasdaq under the symbol LOACU. Cantor Fitzgerald is the lead bookrunner on the deal.
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. The Renaissance IPO Index is up 8.3% year-to-date, while the S&P 500 is up 8.2%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Spotify (SPOT) and Athene (ATH). The Renaissance International IPO Index is down 7% year-to-date, while the ACWX is down 4%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Delivery Hero and Siemens Healthineers.
