Due to high broader market volatility, all initial public offerings set to debut last week postponed their listings to wait for better market conditions.
Four Springs Capital Trust, which was set to be the largest deal of the week, postponed its $310 million deal, citing last week's negative market conditions. The REIT previously attempted to go public back in 2017, and is focused on acquiring, owning and actively managing a portfolio of single-tenant, income producing industrial, medical, service/necessity retail and office properties in the United States.
Rhodium Enterprises, Inc., also postponed its $124 million IPO due to bitcoin's slump into negative territory last week. The company strives to create innovative technologies to be the most sustainable and cost-efficient producer of bitcoin in the crypto-mining industry.
However, last week's postponements did not bleed over into the week ahead, with four traditional IPOs scheduled to raise over $460 million.
Credo Technology Group Holding Ltd. (CRDO ) plans to raise $345 million from 25 million shares priced between $10 to $12 each. The company's connectivity solutions are optimized for optical and electrical ethernet applications, with its products including Integrated Circuits, Active Electrical Cables, and SerDes Chiplets.
Verdant Earth Technologies (VDNT ) plans to raise $50 million from 6.3 million shares priced between $7 to $9 each. The Australian green-energy company is in the process of repurposing and recommissioning a traditional baseload power plant to run on renewable fuel.
Samsara Vision, Inc. (SMSA ) plans to raise more than $33.5 million from about 4.2 million shares priced between $5 to $7 each. The specialty medical device company is focused on the research, development, manufacturing, and marketing proprietary ophthalmic devices and technologies designed for patients with untreatable retinal disorders.
Direct Digital Holdings (DRCT ) plans to raise $32 million from 4 million shares priced between $7 to $9 each. The end-to-end, full-service programmatic advertising platform is mostly focused on providing advertising technology, data-driven campaign optimization and other solutions for underserved markets with advertising.