The forecast for early February is a flurry of micro-cap IPOs. Nine deals – a tiny NYSE-American Exchange uplisting and eight extremely small IPOs – are on the IPO Calendar for the week of Jan. 30, 2023. The deals range in size from $8.0 million to $22.5 million. All eight IPOs are NASDAQ listings. Bankers expect to raise about $106.02 million if all nine deals get done.
Quite a few names will look familiar:
– Four of the eight small IPOs are carry-overs from last week: Lucy Scientific Discovery, Inc. (LSDI proposed); Lead Real Estate Co. Ltd. (LRE proposed), Bullfrog AI Holdings (BFRG/ BFRGW proposed) and Elate Group (ELGP/ ELGPW proposed).
-Two deals, including the uplisting, were relaunched after postponements in December: Curative Biotechnology, Inc. (CUBT/ CUBT WS proposed), an uplisting to the NYSE-American Exchange from the OTC Pink Market, and SONDORS (SODR proposed), the maker of electric bikes and e-motorcyles, a NASDAQ listing.
-Perhaps most significantly, two deals – Lichen China Ltd. (LICN proposed) and Lead Real Estate Co. Ltd.(LRE proposed) – are back on the IPO runway after postponements on or around Sept. 19, 2022. That’s when the NASDAQ’s policy of increased scrutiny of small-cap IPOs brought traffic almost to a halt.
U.S. stock futures are expected to open lower today (Monday, Jan. 30, 2023) Investors are in a cautious mood ahead of the Fed’s meeting this week and another blitz of earnings from bellwether companies.
The Federal Reserve is widely expected to raise U.S. interest rates by only 25 basis points (a quarter percentage point) on Wednesday (Feb. 1, 2023) after December’s CPI data indicated that the central bank’s aggressive campaign to curb inflation is working, as Bloomberg reported.
China, Japan & Profits
Lichen China (LCN proposed), a Chinese financial and tax service provider, and Lead Real Estate Co. Ltd. (LRE proposed), a Japanese luxury real estate developer, are generating some buzz. Both companies are profitable.
Lichen China is scheduled to price its IPO on Tuesday night (Jan. 31, 2023) for trading Wednesday, Feb. 1, on the NASDAQ. Univest Securities is the sole book-runner.
Lead Real Estate Co. Ltd.’s IPO is set to price Wednesday night (Feb. 1, 2023) for trading Thursday, Feb. 2. Network 1 Financial Securities is the sole book-runner.
As IPO investors know all too well, the NASDAQ holds the cards here. A pricing date is written in pencil until the NASDAQ gives its blessing to a small-cap IPO.
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: NASDAQTrader.com then scroll down to IPO Message.
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com 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 IPOScoop.com. 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.