The microcap IPO flow gets off to a slow start with markets closed at the top of the week for Martin Luther King Jr. Day.
Companies on this week’s calendar include a blank-check company targeting lifestyle and technology sectors, and a distributor of reflecting and non-reflective garment trims.
Hong Kong Blank Check Company Focused on Lifestyle and Technology
JVSPAC Acquisition has an estimated IPO date of Jan. 19, aiming to raise $50 million at about an $80 million market cap. Founded in 2021 and based in Hong Kong, the SPAC was incorporated to effect a merger, share exchange, reorganization, or similar business combination with one or more businesses targeting the intersection of the technology and lifestyle sectors with a total enterprise value between $100 million and $600 million.
The sole bookrunner on this deal is the Maxim Group.
Updated IPOs
J-Long Group Limited (JL) had estimated IPO dates of Dec. 22 and Jan. 12, seeking to raise $7 million at a $157 million market cap. Now, the company has an estimated IPO date of Jan. 19, still intending to raise $7 million at the same market cap.
