The IPO Buzz: Lean August IPO Lineup Faces Global Market Storm

A light August IPO Calendar – typical for this time of year – is facing an epic storm in global stock markets today – Monday, Aug. 5, 2024 – after Japan’s Nikkei Stock Average fell 12.4 percent, marking its worst day since 1987. That set the stage for a rough day on Wall Street. At around 8:45 a.m. EDT, Dow Futures were down 1,285 points, or 3.22 percent, while NASDAQ Futures were down 1,126.25 points, or 6.07 percent, and S&P 500 Futures were down 246.25 points, or 4.58 percent. The Wall Street Journal said, “Poor American economic data and (the) yen’s surge hit stock prices, raising memories of Black Monday.” It’s safe to say that U.S. IPO bankers won’t sail their clients’ ships into a hurricane. Today’s market storm is likely to lead bankers to reschedule the handful of deals on this week’s calendar – and next week’s lineup as well – to later this month or even after Labor Day. Light IPO Lineup That said, let’s take a quick look at two small-cap IPOs on this week’s IPO Calendar, organized by pricing dates. Both are NASDAQ listings. Pricing Wednesday night, Aug. 7, 2024, to trade Thursday, Aug. 8: – Actuate Therapeutics (ACTU Proposed) – Titan Partners sole book-runner – 2.95 million shares at a price range of $8.00 to $10.00 to raise $26.55 million – This Texas biotech is evaluating its lead drug candidate, elraglusib, as a weekly IV infusion – in combination with the chemotherapy known as GnP – to treat patients with metastatic pancreatic ductal adenocarcinoma (mPDAC) in a Phase II clinical trial, according to the prospectus. Results are expected in the first quarter of 2025. Financial Snapshot: Net loss of $27.7 million on no revenue for the 12 months that ended March 31, 2024 Pricing Thursday night, Aug. 8, 2024, to trade Friday, Aug. 9: – YXT.COM Group Holding  (YXT Proposed) – Kingswood Capital Markets and Tiger Brokers joint book-runners – 2.75 million American Depositary Shares (ADS) at a price range of $11.00 to $13.00 to raise $33.6 million – YXT.COM Group Holding is the holding company for a Chinese cloud-based digital corporate education platform business that provides corporate learning software. The company offered more than 8.200 course covering about 20 industries and serving more than 2,400 subscription customers, as of March 31, 2024, the prospectus says. Financial Snapshot:  Net loss of $18.04 million on revenue of $53.0 million for the 12 months that ended March 31, 2024 A third small deal, zSpace Inc. (ZSPC Proposed), is shown on our IPO Calendar with a tentative pricing date as during “the week of Aug. 5, 2024.” Next Week For the second week of August, the IPO Calendar shows only two small IPOs. Both are NASDAQ listings:  – Innovation Beverage (IBG/ IBGWW Proposed), an Australian wine, spirits and non-alcoholic beverage company, plans to raise $5.8 million in a  unit IPO of stock and warrants. The Benchmark company is the sole book-runner. – SKK Holdings Limited (SKK Proposed), a Singapore civil engineering service provider that specializes in public utility projects, such as laying power and telecommunication cables, as well as working on water pipeline and sewer rehabilitation projects, plans to raise $11.25 million. Bancroft Capital is the sole book-runner. Stay tuned. (For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on IPOScoop.com’s website.) Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board. To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message. Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.