Microcap IPO flow picked up last week after a traditional slowdown around Independence Day.
The IPO flow continues this week with four companies on the calendar.
United States inflation is at the lowest rate in over two years and slowed by 3% last month, so investors may not see more tinkering by the fed in the months ahead.
Many companies report their second-quarter earnings this week. Investors will also be closely watching what companies forecast for their financial performance to weigh the state of the economy.
Upcoming microcap IPOs include a theme park souvenir designer and developer in the U.S., a warranty marketing company in Japan, and two platform-based tech companies, one stateside and the other in Australia.
Theme Park Souvenir Designer for Disney to Dollywood
SRM Entertainment (SRM) has an estimated IPO date of July 20 and intends to raise $9 million at a $50 million market cap. Founded in 1979 and based in the United States, the company designs and develops toys, souvenirs, apparel, and homeware for the entertainment and theme park industries.
SRM Entertainment’s customer base includes Walt Disney Parks and Resorts, Six Flags, SeaWorld, Universal Studios, and Dollywood. The company booked $6 million in sales for the year ended March 31.
EF Hutton is sole bookrunner on this deal.
B2B Commercial Real Estate Lending Platform
Janover (JNVR) has an estimated IPO date of July 20 and seeks to raise about $6 million at a nearly $50 million market cap. Founded in 2018 and based in the United States, Janover operates an online B2B commercial real estate lending platform connecting borrowers with lenders such as credit unions, small banks, debt funds, SBA lenders, CMBS lenders, Fannie Mae and Freddie Mac, REITs, and FHA multifamily lenders. The platform’s borrowers include commercial real estate owners, developers, operators, and small business owners.
Janover earns transaction fees on loans closed through its platform and does not make loans or share risks. The company booked $2 million in revenue for the year ended Dec. 31, 2022. The sole bookrunner on this deal is Spartan Capital Securities.
Extended Sponsor Warranties for Consumer Data
Warrantee (WRNT) had an original estimated IPO date of July 14, intending to raise $11 million at about a $91 million market cap. The company now has an estimated IPO date of July 21 and still seeks the same raise. Founded in 2013 and based in Japan, Warrantee connects corporate sponsors and campaign participants by offering extended warranties on durables or healthcare benefits in exchange for marketable consumer data.
Warrantee uses its patented sponsored product insurance model to obtain data in return for a sponsorship fee. The company booked $2 million in sales for the year ended Sept. 20, 2022. Prime Number Capital is the sole bookrunner on this deal.
Fitness Fueled by Technology
Fitell (FTEL) had an original estimated IPO date of May 26 and now has an estimated IPO date of July 21, still seeking to raise $15 million at a nearly $56 million market cap. Founded in 2007 and based in Australia, the company is a tech-based online gym and fitness equipment retailer with three proprietary brands under Gym Direct.
Fitell also has three new business verticals launched in 2021, including an AI-powered platform. The company booked $6 million in revenue in 2022. R.F. Lafferty & Co and Revere Securities are the joint bookrunners on the deal.
