The October IPO market is expected to remain quiet, with just a handful of small deals on the calendar for the week ahead.
Beamr (BMR), an Israeli video encoding and image optimization software provider, plans to raise $15 million at a $73 million market cap. The company currently licenses three core video and image compression, and counts streaming platforms and Hollywood studios among its clients. However, Beamr is small and unprofitable, and saw revenue decline in the 1H22.
OTC-listed Castellum (CTM) may raise $13 million at a $234 million market cap. Fast growing and unprofitable, the company acquires and grows tech companies to provide intelligence analysis, software development, and other services, primarily to US government agencies and departments.
While not counted below, infectious disease biotech Alopexx (ALPX) plans to raise $15 million at a $39 million market cap.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Beamr (BMR) Herzeliya, Israel | $15M $73M | $5 3,000,000 | ThinkEquity |
| Israeli provider of video encoding and image optimization software. | |||
| Castellum (CTM) Bethesda, MD | $13M $234M | $3 - $5 3,200,000 | EF Hutton |
| Provides technology services primarily to government agencies. | |||
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IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 10/6/2022, the Renaissance IPO Index was down 47.0% year-to-date, while the S&P 500 was down 20.5%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Snowflake (SNOW) and Airbnb (ABNB). The Renaissance International IPO Index was down 40.9% year-to-date, while the ACWX was down 23.6%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Kuaishou and Nongfu Spring.
