With the Fourth of July holiday in the rearview mirror, the next question is: Where is the IPO Calendar? The answer is: Knocking on the door.
July’s IPO market kicks off this week with two blank check companies, also known as SPACs (special-purpose acquisition companies). That’s a quiet start to the month, but looks can be deceiving.
Looking at July over the previous five years, one thing is clear: The IPO Calendar generally kicks in about mid-month. Let’s take a look at when the first IPO started trading after July 4th for the past five years:
- 2018: July 18
- 2017: July 12
- 2016: July 7
- 2015: July 16
- 2014: July 14
This week, one SPAC is set to make its debut on Wednesday, July 10th.
Running from 2001 through 2018, the 18-year median monthly average of IPOs priced in July was 13.5 deals. The busiest July was 34 IPOs in 2014 and the slowest was 2 IPOs in 2009.
It’s Raining S-1s
The early signs of this July’s IPO Calendar buildup can be found in the recent filings with the U.S. Securities and Exchange Commission. Here is a quick look at the S-1 filings flowing into the IPO pipeline over the past three weeks:
- For the week ending June 21, 2019: 8 IPOs
- For the week ending June 28, 2019: 13 IPOs
- For the week ending July 5, 2019: 9 IPOs
That works out to 30 companies filing plans to go public over the last three weeks. They are looking to raise $3.55 billion.
This trend is buoyed by the U.S. stock market’s strength. The major U.S. stock indexes are close to their all- time highs.
Curtain’s Up on July’s IPO Market
Now back to the present: Let’s look at this week’s IPO Calendar, organized by pricing and trading dates.
Tuesday evening for Wednesday morning:
Tuscan Holdings Corp. II (THCAU proposed), based in New York City, is a blank check company formed to identify, acquire and assist in the growth of a business in the cannabis industry. This is a unit offering of 12.5 million units at $10 each.
Thursday evening for Friday morning
Pivotal Investment Corporation II (PIC.U proposed) based in New York City, is a blank check company formed to acquire a leading, high-growth company. Potential acquisition targets might include companies involved in logistics technology and “last mile” delivery services, as well as business technology services, online cybersecurity and off-line physical security services, media and entertainment services and franchise businesses. This is a unit offering of 20 million units at $10 each.
(For more information about these companies, please check the corporate profiles on IPOScoop.com’s website.)
July’s Quiet Third Week
The IPO Calendar is blank for the third week of July, beginning on July 15th. But anything can happen when the SEC’s filing window opens again for business on Monday morning.
Disclosure: Neither the author nor anyone else on the IPOScoop.com staff has a position in any stocks mentioned, nor do we trade or invest in IPOs. The author and IPOScoop.com staff do not issue advice, recommendations or opinions.