After a relatively active week for the IPO market, the calendar is expected to quiet down again. One small deal is scheduled to price, though it is too small to be included in our IPO stats. Biotech Acrivon Therapeutics (ACRV) may also price, after delaying its $100 million IPO.
Nano-cap BullFrog AI Holdings (BFAI) plans to raise $8 million at a $34 million market cap. The pre-revenue company is developing an analytical AI/ML platform for drug development.
With the IPO market well into the fourth quarter now, it's unlikely that activity will pick up before year-end, though another major IPO is not off the table: Large IPOs MN8 Energy (MNX), KinderCare (KLC), and Savers Value Village (SVV) all filed updates this past week.
Street research is expected for one company in the week ahead, and one lock-up period will be expiring. For access to Street research and lock-up expiration dates, sign up for a free trial of IPO Pro.
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 11/10/2022, the Renaissance IPO Index was down 53.2% year-to-date, while the S&P 500 was down 15.9%. 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 42.6% year-to-date, while the ACWX was down 19.2%. Renaissance Capital's International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include EQT and Nongfu Spring.
