UCAR News

Eleven very small IPOs raised a combined $111 million in April, well below the 10-year average (16 IPOs, $4.0B). The month’s largest deal raised just $19 million as issuance from larger names continued to stall in the wake of March’s banking crisis. Nearly all of the month’s issuers were based in Asia, except for fitness equipment brand ...read more

Six small deals began trading this past week, five of which met the criteria for our IPO stats. They were joined by one blank check IPO. U Power (UCAR) downsized and priced at the low end to raise $15 million at a $315 million market cap. U Power started as a vehicle sourcing service provider in China, and in 2020, it also began developing automated...read more

U Power, which is launching automated battery-swapping stations for electric vehicles in China, raised $15 million by offering 2.4 million shares at $6, the low end of the range of $6 to $8. The company offered 0.1 million fewer shares than anticipated. The IPO float is just 4.6% of basic shares outstanding. U Power, which also operates as Upincar and UNEX, started as a vehicle...read more

Four small deals are currently scheduled to price in the week ahead, three of which are eligible for inclusion in our stats, though other issuers may join the IPO calendar late. Holdover U Power (UCAR) plans to raise $18 million at a $368 million market cap. U Power started as a vehicle sourcing service provider in China, and in 2020, it also began developing...read more