Microcap IPOs remain strong midway through Q1, with five companies on the calendar this week.
Bill Smith of Renaissance Capital said, “The rest of February should be slow, but we’re looking out for filings ahead of an expected pickup in mid-March.”
The companies include a US manufacturer and distributor of motor boats and power sports vehicles, a company providing safes and vaults for narcotics storage, a biotech focused on developing sublingual delivery of proteins and peptides for metabolic diseases such as diabetes, a company that provides maritime tours, attractions, and activities in the continental US and US Virgin Islands, and a financial and advertising software company using blockchain technology for companies to list, buy, and sell advertising campaigns.
US Power Sports Vehicles and Motor Boats
Massimo Group (MAMO) has an estimated IPO date of Feb. 13, intending to raise nearly $6 million at about a $186 million market cap. Founded in 2008 and based in the US, the company manufactures and distributes motor boats and power sports vehicles, with over 5,500 marine and 600 motor vehicle third-party service providers nationwide.
Massimo Group booked $100 million in sales for the year ended Sept. 30. The joint bookrunners on this deal are Craft Capital Management and Roth Capital.
Safes and Vaults for Narcotics Storage
Scripps Safe (SCRP) has an estimated IPO date of Feb. 13, seeking to raise $6 million at a $55 million market cap. Founded in 2012 and based in the US, the company provides safes and vaults for narcotics storage, focusing on three verticals, including mobile pharmaceutical delivery and addiction or medication treatment facilities.
Scripps Safe booked $1 million in sales for the year ended Dec. 31, 2022. The sole bookrunner on this deal is Spartan Capital Securities.
Updated IPOs
Biolingus (Cayman) Limited (SUBL) had an estimated IPO date of Jan. 31, seeking to raise $7 million at about a $222 million market cap. The company now has an estimated IPO date of Feb. 14, still aiming to raise $7 million at around a $222 million market cap.
Amphitrite Digital (AMDI) had an estimated IPO date of Feb. 8, intending to raise $7 million at an almost $13 million market cap. The company now has an estimated IPO date of Feb. 14 and is still seeking to raise $7 million at the same market cap.
NYIAX (NYX) had an estimated IPO date of March 8, 2023, seeking to raise $9 million at an estimated market cap of $78 million. Then, the company had estimated IPO dates of Nov. 3 and Nov. 30, 2023, intending to raise $7.5 million at about a $74 million market cap. NYIAX now has an estimated IPO date of Feb. 16, aiming to raise about $8 million at around a $75 million market cap.
