SRACU News

Eight small companies and four SPACs entered the public market this past week. Continuing a 4Q trend, all eight deals priced below the midpoint; the average IPO priced 11% below the midpoint, traded up 1% on its first day, and finished the...read more

Stable Road Acquisition Corp., a blank check company focused on companies within the cannabis industry, raised $150 million by offering 15 million units at $10 to command a market value of $193 million. Each unit consists of one share of common stock and one half of one warrant to purchase common stock at a price of $11.50 per share. Stable Road Acquisition Corp. plans to...read more

In the week ahead, nine IPOs and one SPAC are set to raise $2.6 billion, 75% of which is from GFL Environmental (GFL). GFL is joined by a California bank, three biotechs, two diagnostic/medical device companies, and two Chinese issuers. Six of the deals have insider buying. In what would be the largest Canadian IPO ever, ...read more

Stable Road Acquisition, a blank check company targeting the cannabis industry, filed on Friday with the SEC to raise up to $150 million in an initial public offering The Venice, CA-based company plans to raise $150 million by offering 15 million units at a price of $10. At $10, Stable Road Acquisition would command a market value of $193 million. Each unit consists of one...read more