The microcap IPO flow slowed this week in anticipation of the holiday season and Q4’s end.
New issuance typically slows nearly to a halt at year’s end. However, Bill Smith of Renaissance Capital opined, “Even though new issuance has waned, we remain very optimistic about 2024.”
Companies set to float include a building technology company and manufacturer of cold-formed steel, and a video game creator developing a royalty-themed game involving interactive role-playing.
Updated IPOs
Inno Holdings (INHD) had estimated IPO dates of Nov. 1 and Nov. 29, seeking to raise about $11 million at around a $93 million market cap. Now, the company has an estimated IPO date of Dec. 12, aiming to raise $10 million at around an $83 million market cap.
The RoyaLand Company had an estimated IPO date of Aug. 21, intending to raise nearly $7 million at about an $82 million market cap. Now, the company has an estimated IPO date of Dec. 13 and is still looking to raise almost $7 million at around an $82 million market cap.
