Microcap IPO activity is picking up with four companies on the calendar this week as the financial world settles into Q1 of the New Year.
Companies include a distributor of reflecting and non-reflective garment trims, a manufacturer and seller of tactical communication headset devices, a seller and deliverer of electric light commercial vehicles in Japan, and a blank check company targeting the food service industry.
Tactical Communication Headset Devices
Silynxcom (SYNX) has an estimated IPO date of Jan 12, intending to raise around $5 million at about a $25 million market cap. Founded in 2005 and based in Israel, the company develops, manufactures, markets, and sells tactical communication headset devices and accessories, including in-ear headset devices used in weapons training, combat, riot control, and the battlefield.
Silynxcom booked $8.38 million in sales for the year ended June 30, 2023. The sole bookrunner on this deal is ThinkEquity.
Electric Light Commercial Vehicles in Japan
HW Electo (HWEP) has an estimated IPO date of Jan 17, aiming to raise $15 million at about a $167 million market cap. Founded in 2019 and based in Japan, the company is a seller and deliverer of two models of electric light commercial vehicles, ELEMO and ELEMO-K.
HW Electro booked $2 million in sales for the year ended March 31, 2023. Univest Securities is the sole bookrunner on this deal.
Blank Check Company Targeting Food Service Industry
Banyon Acquisition Company (BYN) has an estimated IPO date of Jan. 20 and is seeking to raise $210 million at a $270 million market cap. Founded in 2021 and based in the United States, the blank check company is led by Jerry Hyman, chairman of TriMark USA to target businesses in the food service industry with enterprise values between $1 billion and $5 billion.
Banyon Acquisition Company is also led by CEO and Director Keith Jaffee, the chairman of Middleton Partners and former CEO of Focus Products. The sole bookrunner on this deal is BTIG.
J-Long Group Limited (JL) had an estimated IPO date of Dec. 22, intending to raise $7 million at a $157 million market cap. Now, the company has an estimated IPO date of Jan. 12, still aiming to raise $7 million at the same market cap.