The microcap IPO flow trickles through the end of January, with four companies on the calendar.
An expected uptick in February includes tech enterprises.
“Every tech unicorn will need to prove itself by hitting numbers as a public company, and an IPO starts that clock,” said Bill Smith of Renaissance Capital.
Companies on the calendar include a distributor of reflective and non-reflective garment trims, a seller and deliverer of electric light commercial vehicles, a luxury lifestyle brand focused on activewear and ski apparel, and a biotech firm.
Luxury Lifestyles and Extreme Sports
Perfect Moment (PMNT) has an estimated IPO date of Jan. 15, aiming to raise about $16 million at around a $108 million market cap. Founded in 1984 and based in the United Kingdom, the company is a luxury lifestyle brand focused on ski apparel and activewear inspired by the design of Thierry Donald, a professional skier and extreme sports filmmaker.
Perfect Moment booked $24 million in sales for the year ended June 30. The joint bookrunners on this deal are ThinkEquity and Laidlaw & Company.
Biotech Focused on Peptides and Proteins
Biolingus (Cayman) Limited (SUBL) has an estimated IPO date of Jan. 31, intending to raise $7 million at around a $222 million market cap. Founded in 2012 and based in Switzerland, the company is a Phase 1 biotech focused on developing sublingual delivery of peptides and proteins for metabolic diseases such as diabetes, NASH, and others.
Biolingus (Cayman) Limited showed no revenue for the year ended April 30. The sole bookrunner on this deal is Univest Securities.
Updated IPOs
J-Long Group Limited (JL) had estimated IPO dates of Dec. 22, Jan. 12, and Jan. 19, seeking to raise $7 million at a $157 million market cap. Now, the company has an estimated IPO date of Jan. 23, still intending to raise $7 million.
HW Electro (HWEP) had an estimated IPO date of Jan. 7, aiming to raise $15 million at around a $167 million market cap. Now, the company has an estimated IPO date of Jan. 24 and is still seeking to raise $15 million at the same market cap.
