The initial public offering (IPO) market was met with some challenging conditions last week, with most planned listings postponing, leaving only one debut. However, the week ahead is expected to be busier, with three traditional offerings set to raise about $468 million.
In the week's sole listing, TPG Inc. (NASDAQ: TPG) raised more than $1 billion after pricing its shares at its midpoint. This private equity firm had $109 billion in assets under management across five investing platforms as of 9/30/21. Despite the volatile stock market last week, TPG ended the week up 11%.
For the week ahead:
Four Springs Capital Trust (NYSE: FSPR) plans to raise more than $310 million from 18 million shares priced between $13 to $15 each. This REIT's portfolio consists of 156 commercial properties across 32 U.S. states, focused on single-tenant, industrial, medical, retail and office properties.
Rhodium Enterprises, Inc. (NASDAQ: RHDM) plans to raise about $124 million from nearly 7.7 million shares priced between $12 to $14 each. The bitcoin miner claims to be one of the largest liquid-cooled bitcoin mining sites in the world, with 100 MW of liquid-cooled miners online as of 12/31/21.
Samsara Vision, Inc. (NASDAQ: SMSA) plans to raise about $34 million from nearly 4.2 million shares priced between $5 to $7 each. The company produces medical implants for retinal diseases, with its current product line consisting of two implantable miniature telescopes (IMT) and its Tsert delivery system.