The IPO Buzz: A Fistful of Micro-Caps, A SPAC & The First Direct Listing of 2023

It’s Fed week with a fistful of micro-caps on tap. A big SPAC IPO and a large NYSE direct listing – the first direct listing this year – round out the IPO Calendar for the final week of July (the week of July 24, 2023). The Street will keep its eyes on the Fed. The consensus is that the Fed will raise its benchmark interest rate by 25 basis points on Wednesday afternoon (July 26, 2023) after its two-day meeting ends.

Bankers expect to raise nearly $458 million if all seven deals on this week’s calendar get done.

The New York Stock Exchange direct listing of Surf Air Mobility Inc. (SRFM proposed) accounts for about 60 percent of this week’s traffic by dollar volume.

The SPAC IPO – Keen Vision Acquisition Corp. (KVACU proposed) – represents about a third of this week’s estimated dollar volume.

This week’s micro-cap line-up accounts for about $47 million in combined proceeds. Companies from Japan, Australia and the U.S. are in the mix. Some of these tiny IPOs are carry-overs from previous weeks.

Stay tuned.

(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on’s website.)

Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board. 

To see what time the NASDAQ IPOs are expected to trade, please log in to: then scroll down to IPO Message. 

Disclosure: Nobody on the staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The staff does not issue advice, recommendations or opinions.

Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.