After the long Easter weekend, two IPOs may price in the week ahead. Some SPACs may also join the calendar during the week.
Although the calendar is relatively empty, several notable issuers have kept the pipeline fresh, including billion-dollar deals SAFG Retirement Services (Corebridge) (CRBG) and Bausch + Lomb (BLCO), as well as RIA services platform Dynasty Financial Partners (DSTY), energy efficiency solutions provider Redaptive (EAAS), and fracking services provider ProFrac Holding (PFHC).
Preclinical biotech Ocean Biomedical (OCEA) plans to raise $22 million at a $222 million market cap. The company is currently pursuing programs in multiple indications that have been licensed from universities and hospitals.
Canadian gold exploration company Austin Gold (AUST) plans to raise $13 million at a $52 million market cap. The company has interests in four properties throughout Nevada, only one of which it considers to be material at this time.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Austin Gold (AUST) Vancouver, Canada | $13M $52M | $4 3,265,000 | Roth Cap. |
| Canadian gold exploration company with four properties in Nevada. | |||
| Ocean Biomedical (OCEA) Providence, RI | $22M $222M | $10 - $12 2,000,000 | Roth Cap. JonesTrading |
| Preclinical biotech developing therapies for cancer, infections, and other diseases. | |||
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This past week, Renaissance Capital released its 1Q22 IPO law firm rankings. See below for links to all of our quarterly content:
- 1Q22 US IPO Market Review
- The 1Q22 IPO Rankings for the Big Four Accounting Firms
- The 1Q22 IPO Market’s Law Firm Leaderboard
Street research is expected for one company, and lock-up periods will be expiring for up to twelve 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 4/13/2022, the Renaissance IPO Index was down 27.0% year-to-date, while the S&P 500 was down 6.3%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Uber Technologies (UBER) and CrowdStrike Holdings (CRWD). The Renaissance International IPO Index was down 26.4% year-to-date, while the ACWX was down 7.7%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Volvo Car Group and Kuaishou.
