Updated Monday, 12/13.
The IPO market is expected to stay relatively quiet in the week ahead with four IPOs scheduled to raise $814 million.
IoT solutions developer Samsara (IOT) plans to raise $753 million at an $11.6 billion market cap. This "internet-of-things" company provides a cloud-based platform that connects the assets of businesses with physical operations, enhancing operational efficiency and asset and employee productivity. Fast growing but highly unprofitable, Samsara saw double-digit growth for customers with $100k+ ARR in the 9mo FY22.
Australia-listed CNS biotech Bionomics (BNOX) plans to raise $25 million at a $113 million market cap. The company is advancing its lead candidate, BNC210, for the acute treatment of Social Anxiety Disorder (SAD) and chronic treatment of Post-Traumatic Stress Disorder (PTSD). It expects to initiate a Phase 2 trial for SAD by the end of 2021, and has already initiated a Phase 2b trial for PTSD.
Wine brand Fresh Vine Wine (VINE) plans to raise $21 million at a $116 million market cap. This celebrity-founded company produces low carb, low calorie premium wines. Growing but highly unprofitable, Fresh Vine sells its wines through wholesale, retail, and DTC channels, and is able to conduct wholesale distribution in all 50 states and Puerto Rico.
Micro-cap satellite developer Sidus Space (SIDU) plans to raise $15 million at an $81 million market cap. This company provides commercial satellite services such as design, manufacture, launch, and data collection. Sidus Space has generated space-related manufacturing revenues to date, but is highly unprofitable with negative gross margin in the 9mo21.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Fresh Vine Wine (VINE) Plymouth, MN | $21M $116M | $9 - $10 2,200,000 | Oak Ridge Boustead |
| Produces low carb, low calorie premium wines in the US. | |||
| Samsara (IOT) San Francisco, CA | $753M $11,603M | $20 - $23 35,000,000 | Morgan Stanley Goldman |
| Develops fleet management and other Internet of Things solutions for businesses. | |||
| Bionomics (BNOX) Eastwood, Australia | $25M $113M | $15.45 1,620,000 | Evercore ISI William Blair |
| Australian Phase 2 biotech developing allosteric ion channel modulators for CNS disorders. | |||
| Sidus Space (SIDU) Merritt Island, FL | $15M $81M | $4 - $6 3,000,000 | Boustead |
| Provides satellite and space services and defense manufacturing. | |||
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IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 12/9/21, the Renaissance IPO Index was down 9.1% year-to-date, while the S&P 500 was up 24.3%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Snowflake (SNOW) and Moderna (MRNA). The Renaissance International IPO Index was down 25.9% year-to-date, while the ACWX was up 6.7%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Meituan-Dianping and SoftBank.
