After a quiet end to the first quarter and silent start to the second quarter, the initial public offering (IPO) market is expected to pick back up in the week ahead, with three traditional offers set to raise over $500 million.
Here's this week's expected offerings in order of offering amount:
Excelerate Energy, Inc. (EE ) plans to raise over $441 million from 16 million shares priced between $21 to $24 each. The company own a fleet of floating storage and regasification units, which are used to regasify liquefied natural gas (LNG) for power generation and other applications. Excelerate has regional offices in eight countries and operations in the United States, Brazil, Argentina, Israel, United Arab Emirates, Pakistan and Bangladesh.
Applied Blockchain, Inc. (APLD ) plans to raise $60 million from 3.2 million shares within the price range of $16.54 to $20.54. The company is actively mining digital assets and if developing data centers and other services for crypto miners. Applied's first facility was constructed in North Dakota in February 2022, and is online and providing 55MW of energy and service to customers. By 2023, it plans to bring a total of 800MW online by 2023.
Genius Group Ltd. (GNS ) plans to raise about $23 million from over 3.27 million shares priced between $5 to $6 each. The Singapore-based education technology company has approximately 1.9 million students in 191 countries across all age groups--as of June 30, 2021--1.87 million frees students and 35,600 paying students, alongside 9,900 partners.