The microcap IPO flow tapered almost to a halt at the end of February, with just one company on the calendar, marking a typical seasonal lull.
The company is an advertising and financial software provider using blockchain tech for companies to sell, list, and buy advertising and campaigns.
Crunchbase reports that Brittany Skoda, global head of software banking at Morgan Stanley, said, “I don’t think there’s going to be some huge snowball of activity in the IPO markets in the near term – more flurries over the next 12 months.”
Updated IPOs
NYIAX (NYX) had an estimated IPO date of March 8, 2023, intending to raise $9 million at a market cap of around $78 million. Then, the company had estimated IPO dates of Nov. 3 and Nov. 30, seeking to raise $7.5 million at about a $74 million market cap. NYIAX then moved the estimated IPO dates to Feb. 16 and Feb. 22, increasing the planned offering to $8 million at around a $75 million market cap. The company now has an estimated IPO date of March 1, still aiming to raise about $8 million at a $75 million market cap.
