Two microcap companies are on the calendar for floats this week.
Additionally, the Federal Reserve meets this week and is expected to hike interest rates another quarter point, marking their 11th increase since March 2022.
US inflation is at the lowest rate in more than two years after the Federal Reserve put interest rates on hold at the June meeting.
Investors are also watching earnings season, with 150 S&P companies due to report this week.
Upcoming microcap IPOs include a blank check company sourcing biotech and agricultural opportunities and a company focused on solar innovations in agriculture.
Blank Check Company for Biotech and Agricultural Opportunities
Keen Vision Acquisition has an estimated IPO date of July 25 and seeks to raise $130 million at a nearly $169 million market cap. Founded in 2021 and based in the United States, Keen Vision Acquisition is a blank check company.
The SPAC seeks to source biotech, agriculture, or consumer goods opportunities, focusing on social, environmental, and sustainability initiatives. EF Hutton and Brookline Capital Markets are the joint bookrunners on this deal.
Harnessing the Sun’s Power for Agriculture
Opti-Harvest has an estimated IPO date of July 27 and intends to raise around $8 million at about a $54 million market cap. Founded in 2016 and based in the United States, the company focuses on agricultural innovations such as accelerating crop growth, reducing labor costs, mitigating adverse environmental impacts, maximizing crop yield, and optimizing land and water resources.
Opti-Harvest uses patented and patent-pending technologies to optimize and utilize sunlight, including Opti-Filter and Opti-View. The company’s operating cash flow for the past year was $4.43 million. The sole bookrunner on the deal is WestPark Capital.