ATXG News

IPO Market Misfires in the Slowest 3Q in Over a Decade It was the worst third quarter for new issuers in over a decade, with 25 IPOs raising $2.4 billion as the 2022 US IPO market remains on track to raise the lowest proceeds of any year in our firm's 30+ year history. While issuance did pick up slightly from the...read more

A handful of small deals may begin trading in the week ahead as the third quarter comes to a close, though the actual lineup is uncertain as it was reported that the Nasdaq would step up scrutiny of smaller deals. The news comes amid wild “pop-and-drop” trading from micro-caps, which post dizzying first-day returns only to collapse in the aftermarket. The most recent...read more

The long Labor Day weekend is here, which means the summer IPO market has come to an end. Four small issuers began trading this past week, although only two met our tracking criteria. Just two IPOs and one SPAC submitted initial filings. The most notable news of the week came from the pipeline. Digital ad firm Aleph Group (ALEF) and car sharing platform...read more

Addentax Group (ATXG) IPO'd on the Nasdaq at $5.00 for a market cap of $158 million; the company closed its first day of trading on Wednesday valued at $20.8 billion, having soared 13,031% from the offer price in its debut. That is the highest first-day pop Renaissance Capital has recorded in its 30+ year history. Previously listed on the OTCQB with virtually no trading,...read more