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Five IPOs are slated to raise $457 million in the reduced vacation week ahead.
REIT Four Springs Capital Trust ( FSPR) prepares to raise $252 million at a $603 million market cap. The business’s portfolio includes 156 industrial residential or commercial properties throughout 32 states, concentrated on single-tenant, earnings producing commercial, medical, retail, and workplace residential or commercial properties. Four Springs’ residential or commercial properties were 99.8% rented since 12/15/21, though its 10 biggest occupants represented almost half of its ABR.
Bitcoin miner Rhodium Enterprises ( RHDM) prepares to raise $100 million at a $1.6 billion market cap. Rhodium thinks it is among the biggest liquid-cooled bitcoin mining websites worldwide, with 100 MW of liquid-cooled miners online since 12/31/21. While the business depends upon the unstable Bitcoin market, it provided explosive development and turned successful in the 9mo21.
Verdant Earth Technologies ( VDNT) prepares to raise $50 million at a $201 million market cap. Australia- based Verdant is an advancement phase green energy business in the procedure of repurposing and recommissioning a conventional coal-fired power plant to operate on sustainable fuel. The business does not anticipate to produce income up until after it finishes its very first task, which depends upon federal government approval.
OTC-listed Modular Medical ( OTCQB: MODD) prepares to raise $30 million at a $130 million market cap. Modular Medical is establishing a wearable insulin pump gadget for both type 1 and type 2 diabetes, and anticipates to send its item to the FDA in March 2022 through a premarket alert procedure. The business has actually not created any incomes to date.
Samsara Vision ( SMSA) prepares to raise $25 million at a $153 million market cap. This business produces medical implants for retinal illness such as AMD. Highly unprofitable, Samsara’s present line of product includes 2 implantable mini telescopes (IMT) and its Tsert shipment system.
| U.S. IPO Calendar | |||
|---|---|---|---|
| IssuerBusiness | Deal SizeMarket Cap | Price RangeShares Filed | TopBookrunners |
|
Four Springs Capital REIT ( FSPR) Lake Como, NJ |
$ 252M $ 603M |
$ 13-$ 15 18,000,000 |
Morgan Stanley Goldman |
| Single- occupant net lease REIT with 156 industrial residential or commercial properties throughout 32 states. | |||
|
Rhodium Enterprises ( RHDM) Fort Worth, TX |
$ 100M $ 1,616 M |
$ 12-$ 14 7,692,307 |
B. Riley Cowen |
| Fully incorporated bitcoin miner with a prepared 100 megawatt capability. | |||
|
Modular Medical ( OTCQB: MODD) San Diego, CA |
$ 30M $ 130M |
$ 12.49 2,401,922 |
Oppenheimer |
| Developing a wearable insulin pump gadget. | |||
|
Samsara Vision ( SMSA) Far Hills, NJ |
$ 25M $ 153M |
$ 5-$ 7 4,166,667 |
ThinkEquity |
| Makes medical implants for retinal illness consisting of AMD. | |||
|
Verdant Earth Tech ( VDNT) Sydney, Australia |
$ 50M $ 201M |
$ 7-$ 9 6,250,000 |
Roth Cap |
| Repurposes standard power plants to operate on sustainable fuel in Australia. | |||
Lock- up durations will be ending for approximately 17 business.
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of recently public business. As of 1/13/2022, the Renaissance IPO Index was down 13.0% year-to-date, while the S&P 500 was down 2.2%. Renaissance Capital’s IPO ETF ( NYSEARCA: IPO) tracks the index, and leading ETF holdings consist of Uber Technologies ( NYSE: UBER) and Snowflake ( NYSE: SNOW)
The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 1.5%. Renaissance Capital’s International IPO ETF ( NYSEARCA: IPOS) tracks the index, and leading ETF holdings consist of Volvo Car Group andKuaishou Technology
Editor’s Note: The summary bullets for this post were picked by Seeking Alpha editors.
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