HTCR News

In February, eight IPOs raised $271 million, a 76% y/y decline in IPO count and a 97% drop in proceeds. February IPOs raised fewer proceeds than any month since November 2018. The month’s issuers were primarily micro-caps, as the average deal size shrank to a mere $34 million; just one deal raised more than $100 million. Issuance was slow as companies finished preparing 4Q21...read more

While market conditions have forced most IPO candidates to the sidelines, small issuers continue to list, dominating the IPO calendar in recent weeks. As we noted, many have added warrants. Nine of the year’s 15 IPOs have raised $50...read more

Three micro-caps debuted this past week during the IPO market’s annual February lull. Nine SPACs also priced. The pipeline remained relatively quiet, with two IPOs and one SPAC submitting initial filings. The Arena Group (AREN), a media holding company operating Sports Illustrated, TheStreet, and other brands, raised $30 million at a $172 million...read more

HeartCore Enterprises, which provides businesses with customer experience software and IT services in Japan, raised $15 million by offering 3.0 million shares at $5, the midpoint of the revised $4 to $6 range. The company originally filed to raise the same amount by selling 2.5 million shares at a range of $5 to $7 in early January, before lowering the range a few weeks later. ...read more