A few deals are currently on the calendar for the week ahead, only one of which is large enough to be included in our IPO stats. With the holidays drawing closer and no major launches this past week, it’s unlikely that we’ll see any large IPOs before year end, but other small issuers may join the calendar last minute.
E-bike maker SONDORS (SODR) may price in the week ahead, planning to raise $23 million at a $146 million market cap. The company makes premium electric bikes through a collection of kits, and through a partnership agreement, offers its entry level model to Costco customers. Unprofitable but growing, SONDORS has delivered over 63,000 e-bikes in 72 countries since 2015.
While not included below, holdover BullFrog AI Holdings (BFRG) 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. Nano-cap ParaZero Technologies (PRZO) plans to raise $8 million at a $30 million market cap. The aerospace company is focused on developing autonomous parachute safety systems for commercial drones, though it has yet to generate significant revenues from its products.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| SONDORS (SODR) Malibu, CA | $23M $146M | $8 - $10 2,500,000 | Lake Street Cap. |
| Makes electric bikes and motorcycles. | |||
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Street research is expected for one company in the week ahead, and lock-up periods will be expiring for three companies. 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 12/8/2022, the Renaissance IPO Index was down 53.3% year-to-date, while the S&P 500 was down 15.5%. 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 32.2% year-to-date, while the ACWX was down 14.7%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Kuaishou and JD Health.
