Despite the summer heat, the US IPO market remains largely frozen with just one small IPO that may price in the week ahead. Other small deals may also join the calendar during the week.
OTC-listed Loop Media (LPTV) plans to raise $12 million at a $490 million market cap. The company provides ad-supported TV boxes that stream short videos at retail locations such as restaurants, bars, hotels, and stores. Unprofitable but growing, the company launched its “Partner Network” in May and currently has one partner, which is expected to comprise nearly half of Loop’s 2Q22 revenue.
Although not listed below, two unit offerings may price. Online retailer Bruush Oral Care (BRSH) plans to raise $15 million at a $38 million market cap, and diagnostics developer bioAffinity Technologies (BIAF) plans to raise $7 million at a $52 million market cap.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Loop Media (LPTV) Glendale, CA | $12M $490M | $2.71 4,428,044 | Roth Cap. |
| Provides ad-supported TV boxes that stream short videos at retail locations. | |||
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IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 7/28/2022, the Renaissance IPO Index was down 44.0% year-to-date, while the S&P 500 was down 13.8%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Airbnb (ABNB) and Snowflake (SNOW). The Renaissance International IPO Index was down 30.2% year-to-date, while the ACWX was down 15.9%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Kuaishou and EQT.
