While market conditions have forced most IPO candidates to the sidelines, small issuers continue to list, dominating the IPO calendar in recent weeks. As we noted, many have added warrants.
Nine of the year’s 15 IPOs have raised $50 million or less, with another seven small listings tentatively scheduled for this month. While the calendar has remained full in February, that is partly attributable to small deals staying on the calendar week after week.
The year’s micro-caps have mostly underperformed, averaging a return of -17%, with all but one trading below issue. By contrast, the year’s six IPOs that have raised at least $50 million...
To read the rest of the article, sign up for a free trial of IPO Pro.
