The IPO Buzz: Six Deals & the Fed in Mid-December

Six small-cap IPOs are on the runway during the week of Dec. 12, 2022. Wall Street’s attention, though, was focused on the cooler-than-expected U.S. CPI data today (Tuesday, Dec. 13, 2022) and the Fed’s expected interest-rate increase on Wednesday afternoon. This week stands out for its 24-hour cycle of rate-hike decisions from the Fed, the European Central Bank and the Bank of England, Bloomberg reported over the weekend.

U.S. stocks soared after the U.S. Consumer Price Index (CPI) reading for November was milder than expected. Stocks later gave up a large chunk of their gains, although the three major U.S. stock indexes were still in positive territory with 30 minutes to go before Tuesday’s closing bell. The Dow Jones Industrial Average gained 103.60 points, or 0.3 percent, to end at 34,108.64, while the NASDAQ Composite Index climbed 113.08 points, or 1.0 percent, to close at 11,256.81. The S&P 500 advanced 29.08 points, or 0.7 percent, to end at 4,019.65.

One part of the CPI – one that Federal Reserve Chairman Jerome Powell said recently was “most important” for determining the outlook – slowed again in November, according to Bloomberg.
“Services prices excluding energy services and rents rose just 0.1% last month, after logging increases of 0.4% in October and 0.8% in September, according to Bloomberg calculations based on data published Tuesday by the Labor Department,” Bloomberg reported.

Wall Street is pricing in a rate increase of 50 basis points tomorrow, which would mark a slowdown from the Fed’s string of four rate increases of 75 basis points each.

If all six IPOs get done this week, bankers will raise $70.62 million.

The deals on this week’s IPO Calendar range from Erayak Power Solution Group Inc. (RAYA proposed) to Cadrenal Therapeutics (CVKD proposed).

Erayak Power Solution Group (RAYA proposed) is expected to price its IPO tonight (Tuesday, Dec. 13, 2022): 3.0 million shares at $4.00 each to raise $12.0 million. The shares will be issued by the Cayman Islands-incorporated holding company, according to the prospectus. The company, which makes inverters and generators, does business through subsidiaries in China. (As of 9:45 p.m. EST on Tuesday night, no pricing announcement was visible online.)

Craft Capital Management and R.F. Lafferty & Co. are the joint book-runners.

Cadrenal Therapeutics (CVKD proposed), a tiny biotech deal, and the other four IPOs on this week’s calendar are set for pricing Thursday night, Dec. 15, 2022, to trade Friday, Dec. 16th.

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.