There’s currently one SPAC on the calendar that is expected to price in the week ahead, along with a holdover that is not large enough to be included in our IPO stats.
Although the IPO market is expected to remain quiet in the week ahead, recent updates from large issuers such as Clarios International (BTRY), Turo (TURO), and SmartStop Self Storage REIT (SMST) mean that we could see a few sizeable IPOs in the new year.
SPAC AlphaVest Acquisition (ATMVU) plans to raise $60 million at an $80 million market cap and target businesses in Asia.
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.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| AlphaVest Acquisition (ATMVU) New York, NY | $60M $80M | $10 6,000,000 | EarlyBird |
| Blank check company targeting businesses in Asia. | |||
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.
Lock-ups will be expiring for two companies in the week ahead. For access to lock-up expiration dates, sign up for a free trial of IPO Pro.
This past week, Renaissance Capital released its Annual Review for the US market, exploring the year’s trends, best and worst performers, and outlook for 2023.
2022 US IPO Market Review
IPO Market Snapshot
Indices are market cap weighted baskets of newly public companies. As of 12/15/2022, the Renaissance IPO Index was down 55.3% year-to-date, while the S&P 500 was down 17%. 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 33.3% year-to-date, while the ACWX was down 15%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Kuaishou and JD Health.
