The initial public offering (IPO) market remained quiet last week, with just three small companies completing their offerings. The week ahead is set to continue that slow momentum, with three micro-cap companies slated to debut.
Here's last week's recap:
GigaCloud Technology, Inc. (NASDAQ: GCT) priced shares at its high end to raise $36 million in its debut. The Hong Kong-based company operates a B2b marketplace for furniture and other large goods, connecting Asian manufacturers with resellers throughout the world. The company finished the week up 206%.
Graphex Group ADR (NYSE: GRFX) priced its upsized offering at its midpoint to raise $12 million. The China-based company's products are used primarily in lithium-ion batteries for electric vehicles, energy storage, and other industrial applications. The stock ended the week flat.
Innovative Eyewear, Inc. (NASDAQ: LUCY) priced its shares at the low end to raise $7.35 million. The company sells Bluetooth connected eyewear, offering both prescription glasses and sunglasses. The stock ended the week down 36%.
What to watch out for in the week ahead:
Starbox Group Holdings Ltd. (NASDAQ: STBX) plans to raise $20 million from 5 million shares priced at $4 each. The company is creating a fintech ecosystem targeting micro, small, and medium enterprises in Malaysia.
Mobilicom Ltd. (NASDAQ: MOB) plans to raise $13.5 million from 1.5 million shares priced at about $7 each. The company manufactures and sells hardware, software and cybersecurity solution products for drones and robotic systems.
Hempacco Co., Inc. (NASDAQ: HPCO) plans to raise $6.9 million from 1 million shares priced at $6 each. The company manufactures and sells nicotine-free and tobacco-free alternatives to traditional cigarettes that are hemp- or herd-based.
Holdovers bioAffinity Technologies, Inc. (NASDAQ: BIAF) and PaxMedica, Inc. (NASDAQ: PXMD) may also price in the week ahead, market conditions dependant.