After April’s initial surge, microcap IPOs slowed virtually to a halt last week and larger IPOs dominated the calendar for the first time since March.
This week the microcap IPO pace picks up again with two business services companies and a tech offering.
Intangibles like technology and AI are expected to continue to fuel more microcap IPOs through the end of Q2 into the summer.
Hong Kong ALE
ALE Group Holding Limited (ALEH) has an estimated IPO date of May 11 and intends to raise $21 million at a $117 market cap. Founded in 2014 and based in Hong Kong, the company provides corporate accounting, consulting, and secretarial services to small and mid-sized businesses. ALE booked over $17 million in revenue for the year ended March 31. Prime Number Capital is the sole bookrunner on the deal.
The Caliber of Integrated Asset Management
CaliberCos (CWD) has an estimated IPO date of May 11 and seeks to raise $6 million at a nearly $76 million market cap. Founded in 2009 and based in the United States, the company is a vertically integrated asset management firm that creates, manages, and services proprietary middle-market investment funds, direct investments, and private syndications to investors. CaliberCos booked $84 million in revenue for the year ended Dec. 31. The sole bookrunner on the deal is Spartan Capital Securities.
Drones, Parachutes and Safety
ParaZero Technologies (PRZO) has an estimated IPO date of May 12 and intends to raise nearly $10 million at an almost $30 million market cap. Founded in 2014 and based in Israel, ParaZero is an aerospace company focused on drone safety systems that design, develop, and provide autonomous parachute safety systems for commercial drones, known as unmanned aerial systems (UAS) worldwide, including the United States, Europe, India, South Korea, and Latin America. The company booked $1 million in revenue for the year ended Dec. 31. Aegis Capital is sole bookrunner on the deal.