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US IPO Weekly Recap: Mobileye files for a billion-dollar IPO

September 30, 2022
Weekly Recap

Two SPACs began trading this past week, joined by a nano-cap IPO which is excluded from our stats. The biggest news of the week came from Intel’s Mobileye (MBLY), which filed for an IPO we estimate could raise up to $2.5 billion.

Mobileye provides a portfolio of advanced driver assistance systems (ADAS) and autonomous driving solutions is built upon a comprehensive suite of purpose-built software and hardware technologies. The company currently ships a variety of ADAS solutions to 13 of the 15 largest automakers in the world, and its SoCs had been deployed in over 117 million vehicles as of 7/2/22.

Niccolo de Masi and Harry You’s latest blank check company dMY Squared Technology Group (DMYY.U) downsized to raise $60 million, and Asia-focused SPAC Qomolangma Acquisition (QOMOU) raised $50 million. While not included below, Laser Photonics (LASE), which makes laser-based maintenance systems, raised $15 million at a $39 million market cap.

2 IPOs During the Week of September 26th, 2022
Issuer
Business
Deal
Size
Market Cap
at IPO
Price vs.
Midpoint
First Day
Return
Return
at 09/30
dMY Squared Tech Group (DMYY.U)$60M$75M0%+0%+0%
Blank check company formed by Niccolo de Masi and Harry You targeting professional services.
Qomolangma Acquisition (QOMOU)$50M$66M0%+0%+0%
Blank check company targeting middle-market businesses with a connection to Asian markets.

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4 Filings During the Week of September 26th, 2022
Issuer
Business
Deal
Size
SectorLead
Underwriter
ARB IOT Group (ARBB)$6MTechnologyMaxim
Provides IoT system integration and support services in the ASEAN region.
Blue-Touch (BTHG.RC)$24MConsumer StaplesUnivest Sec.
Chinese maker of baby skincare products, toiletries, and cleaning products.
Mobileye (MBLY)$2,500MTechnologyGoldman
Intel's self-driving vehicle technology business.
Caliber (CWD)$9MFinancialsRevere Securities
Middle-market asset manager focused on real estate and other alternatives.

Sign up for a free trial of our premium platform, IPO Pro. Follow us on Twitter (@IPOtweet) and register for our updates on the IPO market.

This past week, we released our 3Q 2022 review for the US IPO markets. In the report, we cover activity over the past quarter, best and worst performers, outlook going forward, and much more.

IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 9/29/2022, the Renaissance IPO Index was down 50.5% year-to-date, while the S&P 500 was down 22.7%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Snowflake (SNOW) and Airbnb (ABNB). The Renaissance International IPO Index was down 42.6% year-to-date, while the ACWX was down 26.4%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Kuaishou and Nongfu Spring.