IPO Activity - Two small IPOs and two SPACs debuted this past week, with eight IPOs submitting initial filings [2] - Pheton Holdings (PTHL) priced its US IPO at the low end to raise $9 million at a $57 million market cap, focusing on cancer treatment planning systems [3] - Powell Max (PMAX) priced its US IPO at the low end to raise $6 million at a $58 million market cap, providing financial communication services in Hong Kong [3] - Vine Hill Capital (VCICU) and Andretti Acquisition II (POLEU) each raised $200 million as SPACs [3] - Eight IPOs submitted initial filings, including StandardAero (SARO) aiming to raise $1 billion and KinderCare (KLC) aiming for $500 million [3] Upcoming IPOs - Bicara Therapeutics (BCAX) plans to raise $200 million at an $865 million market cap, focusing on a bifunctional antibody for solid tumors [4][5] - Zenas BioPharma (ZBIO) is set to raise $200 million at a $685 million market cap, developing therapies for autoimmune diseases [4][5] Market Performance - The Renaissance IPO Index was up 8.1% year-to-date as of 9/5/2024, while the S&P 500 was up 16.5% [4] - The Renaissance International IPO Index was down 5.3% year-to-date [4]
U.S. IPO Weekly Recap: 2 APAC Microcaps Go Public In Short Labor Day Week As The Pipeline Grows