The IPO Buzz: May Bets and Blank Checks

May’s IPO market opened on Friday with a “blank check” company and a healthcare issue making their debuts. This week’s IPO Calendar has another two deals. One is a blank check and the other is a gaming company whose shares are being upgraded to the U.S. capital markets from the AIM market of the London Stock Exchange. Some IPO experts call the gaming deal an IPO, but it isn’t.

Betting on New York

GAN Limited (GAN.L), based in London, is a provider of enterprise Software-as-a-Service (“SaaS”) solutions for online casino gaming, commonly referred to as iGaming, and online sports betting applications.

On Friday, May 1, the company increased the number of shares to 6.38 million ordinary shares, up from 4.06 million ordinary shares. The price range is $6.50 to $8.50 each.

You might note: Gan’s shares have been listed on London’s AIM since November 2013, according to its prospectus. It closed on Friday, May 1, at 230 pence on the AIM. That makes the deal a secondary offering. This is a NASDAQ listing, scheduled for pricing on Tuesday evening, May 5, to trade on Wednesday, May 6.

Blank Check, Please

Roth CH Acquisition I (ROCHU proposed), is a recently formed blank check company that intends to focus on businesses that have their primary operations in the business services, consumer, healthcare, technology or wellness sectors.

The company plans to offer 7.5 million units at $10 each on Monday evening, May 4, to trade Tuesday, May 5, on the NASDAQ.

(For more information on these companies, please check the IPO profiles on IPOScoop’s website.)

Second Week of May

This brings us to the week of May 11th and the IPO Calendar is blank so far. But some names could climb onto the IPO Calendar when the U.S. Securities and Exchange Commission’s filing window opens again for business on Monday, May 4th.

Stay tuned.

Disclosure: Neither the author nor anyone else on the staff has a position in any stocks mentioned, nor do we trade or invest in IPOs. The author and staff do not issue advice, recommendations or opinion.