Core Insights - The U.S. IPO market is experiencing a modest scale with more companies entering, highlighted by a recent IPO and several SPACs debuting [1] - Megan Holdings, a Malaysian aquaculture service provider, priced its IPO at the lower end of its range, raising $5 million with a market cap of $65 million [1][2] - The week saw significant fundraising from SPACs, with Drugs Made In America Acquisition II raising $500 million, and other SPACs led by notable figures like Chamath Palihapitiya and Tom Lee also securing substantial amounts [1][2] IPO Activity - Megan Holdings (MGN) raised $5 million with a market cap of $55 million, showing a first-day return of +21% [2] - American Acquisition A (AEXA) raised $300 million, with a first-day return of +6% [2] - FutureCrest Acquisition (FRCS.U) raised $250 million, achieving a first-day return of +4% [2] - Emmis Acquisition (EMISU) raised $100 million, with no first-day return [2] - Drugs Made In America Acquisition II (DMIIU) raised $500 million, with a first-day return of +10% [2] Upcoming IPOs - Fermi (FRMI), a newly established REIT, plans to raise $500 million with a market cap of $13 billion, focusing on a large-scale data center project [5] - Neptune Insurance (NP) aims to raise $350 million with a market cap of $2.8 billion, providing data-driven insurance products [5] - Commercial Bancgroup (CBK) plans to raise $100 million with a market cap of $367 million [6] - HW Electro (HWEP) is set to raise $17 million with a market cap of $16.9 million [6] Initial Filings - Six IPOs submitted initial applications, including HCI Group Exzeo (XZO) seeking $100 million and Ethos Technologies (LIFE) also targeting $100 million [2][4] - Other companies filing include YCS Group Holdings (YCSG.RC) for $14 million, PressLogic (PLAI) for $12 million, Seahawk Recycling Holdings for $10 million, and CSC Collective Holdings for $7 million [2][4] SPAC Filings - Three SPACs filed initial applications, including Lafayette Digital Acquisition I seeking $250 million, Climate Transition Special Opportunities SPAC I aiming for $150 million, and Creative Future Acquisition targeting $60 million [3][4]

Group 1: Recent IPOs - Eight new stocks were listed last week, with the planned listing of RSHL postponed, expected to list this week [1] - Notable IPOs include: - CHOW raised $10.4 million by issuing 2.6 million shares at $4 each - PLTS raised $8 million by issuing 2 million shares at $4 each - NTSK raised $908 million by issuing 47.8 million shares at $19 each - WBI raised $634 million by issuing 31.7 million shares at $20 each - PTRN raised $300 million by issuing 21.43 million shares at $14 each - STUB raised $800 million by issuing 34.04 million shares at $23.5 each - SPACs LATAU and CHECU raised $150 million and $110 million respectively [1] Group 2: Upcoming IPOs - Two companies are planning to go public this week: - Megan Holdings Ltd., a seafood farming company, plans to list on September 23, 2025, on NASDAQ under the ticker MGN, aiming to raise up to $7.5 million by issuing 125,000 shares at $4 to $6 each, with projected revenue of $13.5 million and net profit of $1.07 million for 2024 [2][4] - HW Electro Co., Ltd., an electric light commercial vehicle manufacturer, plans to list on September 26, 2025, on NASDAQ under the ticker HWEP, aiming to raise $16.6 million by issuing 415,000 shares at $4 each, with projected revenues of $1.44 million and $1.83 million for the fiscal years 2023 and 2024, respectively, and net losses of $14.28 million and $6 million [2][6]

FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ______________ HW ELECTRO Kabushiki Kaisha (Exact name of registrant as specified in its charter) As filed with the U.S. Securities and Exchange Commission on June 23, 2025. Registration No. 333-287112 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________ AMENDMENT NO. 2 TO HW Electro Co., Ltd. (Address, including zip code, and telephone number, including area code, of registrant's principal executive offices) ...

As filed with the U.S. Securities and Exchange Commission on June 2, 2025. Registration No. 333-287112 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________ AMENDMENT NO. 1 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ______________ HW ELECTRO Kabushiki Kaisha (Exact name of registrant as specified in its charter) HW Electro Co., Ltd. (Translation of Registrant's name into English) ______________ | Japan | 3711 | Not Applicable | | --- | --- | --- | | ...

As filed with the U.S. Securities and Exchange Commission on May 8, 2025. Registration No. 333-[•] UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________ FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ______________ HW ELECTRO Kabushiki Kaisha (Exact name of registrant as specified in its charter) HW Electro Co., Ltd. (Translation of Registrant's name into English) ______________ | Japan | 3711 | Not Applicable | | --- | --- | --- | | (State or other jurisdi ...

As filed with the U.S. Securities and Exchange Commission on December 23, 2024. Registration No. 333-278974 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________ AMENDMENT NO. 3 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ______________ HW ELECTRO Kabushiki Kaisha (Exact name of registrant as specified in its charter) HW Electro Co., Ltd. (Translation of Registrant's name into English) ______________ | Japan | 3711 | Not Applicable | | --- | --- | --- ...

As filed with the U.S. Securities and Exchange Commission on December 10, 2024. Registration No. 333-278974 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________ AMENDMENT NO. 2 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ______________ HW ELECTRO Kabushiki Kaisha (Exact name of registrant as specified in its charter) HW Electro Co., Ltd. (Translation of Registrant's name into English) ______________ | Japan | 3711 | Not Applicable | | --- | --- | --- ...

As filed with the U.S. Securities and Exchange Commission on August 2, 2024. Registration No. 333-278974 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________ AMENDMENT NO. 1 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ______________ HW ELECTRO Kabushiki Kaisha (Exact name of registrant as specified in its charter) HW Electro Co., Ltd. (Translation of Registrant's name into English) ______________ | Japan | 3711 | Not Applicable | | --- | --- | --- | ...

As filed with the U.S. Securities and Exchange Commission on April 26, 2024. Registration No. 333-[•] UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________ FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ______________ HW ELECTRO Kabushiki Kaisha (Exact name of registrant as specified in its charter) HW Electro Co., Ltd. (Translation of Registrant's name into English) ______________ | Japan | 3711 | Not Applicable | | --- | --- | --- | | (State or other juri ...

As filed with the U.S. Securities and Exchange Commission on December 20, 2023. Registration No. 333-275413 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 2 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ______________ HW ELECTRO Kabushiki Kaisha (Exact name of registrant as specified in its charter) HW Electro Co., Ltd. (Translation of Registrant's name into English) ______________ | (State or other jurisdiction of | | --- | | incorporation or org ...