VFS News

Since the start of the year, new US IPO filing activity has slowly picked up, boosted heavily by small Asian issuers. Small companies have dominated US IPO activity in the past two years. Nearly three-quarters of new filings in 2023 have been for offerings of $50 million or less, and the majority of these small filers are based in Asia. ...read more

While the "pop-and-drop" trend of 2022 has largely been put to rest, micro-cap IPO Sacks Parente Golf (SPGC) showed that it’s not gone entirely. The California-based golf club maker raised just $13 million at a fully diluted market value of $63 million by pricing at the low end of the range, but ended Tuesday 624% above offer, the second-best debut for a...read more

Black Spade Acquisition (BSAQ) shareholders are scheduled to vote on the SPAC's proposed merger with Vietnamese EV maker VinFast on Thursday, August 10. The EV maker had originally filed in December to list on the Nasdaq through a traditional IPO. However, likely due to market conditions, it delayed launching and eventually withdrew its plans following its agreement to list via...read more

Four sizable IPOs raised a combined $4.9 billion in May, the biggest month for proceeds since December 2021. May activity was well below the 10-year average for deal count (19 IPOs) but on par for proceeds ($5.0B), and the month now accounts for two-thirds of 2023 IPO proceeds to date thanks to its slate of large deals. Issuance was led by J&J’s Kenvue...read more