The IPO market had ground to a halt since September 2022. IPO interest was the worst in decades. A combination of hope fora new year and pent-up deals saw ten IPOs raise a combined $1.5 billion in February, which roughly in line with the 10-year median (10 IPOs, $1.3B). Significantly five issuers raised over $100 million, the most since November 2021. The biggest was integrated solar tracker and software solutions company Nextracker (NXT) raised $638 million at a $3.5 billion … Continue reading “US IPO Issuance in February the Most Since November 2021, Led by Solar Tracker Nextracker”
US Weekly IPO and SPAC Monitor: Advertising Marketplace NYIAX, Chinese e-commerce ICZOOM
The IPO corridor slowed down this past week with just two small issuers priced as several deals postponed (SODR, MGRX) or were delayed (TRNR, INTS, NRXS). The NFT Gaming Company (NFTG), which is developing a digital gaming platform, raised $7 million and finished the week down -8%. BullFrog AI (BFRG), which is developing an AI/ML platform for drug development, raised $8 million and finished down -27%. Just two small deals scheduled for the short holiday week, advertising contract marketplace NYIAX (NYX) plans to raise $9 … Continue reading “US Weekly IPO and SPAC Monitor: Advertising Marketplace NYIAX, Chinese e-commerce ICZOOM”
US Weekly IPO and SPAC Monitor: Interactive Strength, NFT Gaming Company
Last week was the busiest week since November 2021 for $100+ million IPOs in over a year, with Nextracker (NXT), Enlight Renewable Energy (ENLT), Hesai Group (HSAI) and Minerals Therapeutics (MLYS) leading. The week ahead we have six small companies currently scheduled to float. Electric bike maker SONDORS (SODR), fitness equipment brand Interactive Strength (TRNR), gaming platform developer The NFT Gaming Company (NFTG). Holdovers Intensity Therapeutics (INTS), infectious disease biotech Alopexx (APLX), and BullFrog AI (BFRG). IPOs had a busy … Continue reading “US Weekly IPO and SPAC Monitor: Interactive Strength, NFT Gaming Company”
Solar Tracking Tech Company Nextracker Upsized IPO Debuts Up 27%
Investors excitement around energy transition was borne out in the successful upsized IPO from Flex Ltd (FLEX) spinout Nextracker Thursday on its public listing. The company, which will trade under the ticker NXT sold 14% more shares and raised 28% more in proceeds than its original terms. Nextracker provides integrated solar tracker and software solutions to enable solar panels in utility-scale power plants to follow the sun’s movement across the sky and optimize plant performance. NXT raised $638 million by … Continue reading “Solar Tracking Tech Company Nextracker Upsized IPO Debuts Up 27%”
US Weekly IPO and SPAC Monitor: Nextracker, Enlight Renewable Energy, SONDORS, Mineralys Therapeutics
IPO’s have a busy week ahead with nine deals set to price. Four planning to raise more than $100 million. Integrated solar tracker and software solutions company Nextracker (NXT) plans to raise $500 million. Enlight Renewable Energy (ENLT) plans to raise $293 million. Chinese lidar developer Hesai Group (HSAI) plans to raise $162 million. Cardiorenal disease biotech Minerals Therapeutics (MLYS) plans to raise $150 million. E-bike maker SONDORS (SODR) plans to raise $23 million. Four other small deals may also … Continue reading “US Weekly IPO and SPAC Monitor: Nextracker, Enlight Renewable Energy, SONDORS, Mineralys Therapeutics”