Two small deals are currently scheduled for the short holiday week, though only one is eligible for inclusion in our IPO stats.
While the calendar is quiet for now, we could see sizable launches after Presidents’ Day as more companies finalize year-end financials. Some large issuers in the pipeline have already started updating their filings. Frac sand miner Atlas Energy Solutions (AESI) disclosed 2022 financials this past week ahead of its estimated $200 million IPO, and thrift store chain Savers Value Village (SVV) provided preliminary results earlier this month ahead of its estimated $250 million IPO.
On the calendar, advertising contract marketplace NYIAX (NYX) plans to raise $9 million at a $71 million market cap. The company’s platform facilitates the listing, buying, and selling of advertising or audience campaigns, utilizing smart contracts and blockchain technology. Small and highly unprofitable, NYIAX’s platform is protected by a joint patent held by the company and a Nasdaq subsidiary.
While not included below, Chinese e-commerce play ICZOOM Group (IZM) may raise $7 million at a $46 million market cap. The company operates an online B2B electronics trading platform primarily for SMEs in China, offering semiconductor products and other electronic components. ICZOOM is profitable and growing.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| NYIAX (NYX) New York, NY | $9M $71M | $5 1,850,000 | Boustead WestPark Capital |
| Provides an advertising marketplace and contract management platform. | |||
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IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 2/16/2023, the Renaissance IPO Index was up 23.1% year-to-date, while the S&P 500 was up 6.8%. 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 up 2.0% year-to-date, while the ACWX was up 7.3%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Porsche and Kuaishou.
