IPOs

US IPO Week Ahead: IPO market slows during short holiday week

There are no companies scheduled to price next week, though two micro-cap IPOs may price on a day-to-day basis: Chinese healthcare training platform Zhongchao (ZCMD) and flooring roll-up F5 Finishes (FLRZ). A number of IPOs may launch on Tuesday, including preclinical gene therapy developer Passage Bio (PASG). Renaissance Capital's IPO Index is up 11.2%, indicating new filing activity should also pick up in the week ahead.

Zhongchao, a Chinese internet platform for medical information, education, and training, plans to raise $15 million by offering 3.5 million shares at a price range of $4.00 to $4.50. At the midpoint, Zhongchao’s market cap would be $107 million. The company grew sales by 35% in the first half of 2019 to $7 million with net income of $1.7 million and it plans to use IPO proceeds of the offering to expand the business and upgrade platform technology.

F5 Finishes, a California-based commercial flooring roll-up, plans to raise $20 million by offering 4 million shares at a price of $5 per share. The company has lowered the price range twice; initially filing at a range of $9 to $11, then $7 to $8 before lowering to the current proposed price. 

U.S. IPO Calendar
Issuer
Business
Deal Size
Market Cap
Price Range
Shares Filed
Top
Bookrunners
F5 Finishes (FLRZ)
Livermore, CA
$20M
$47M
$5
4,000,000
Maxim
Zelman
A roll-up of commercial flooring providers.
Zhongchao (ZCMD)
Shanghai, China
$15M
$107M
$4 - $4.50
3,500,000
Network 1
Chinese internet platform providing medical information, education, and training.

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US IPO Week Ahead: IPO market slows during short holiday week

Investment Disclosure: Renaissance IPO ETF (symbol: IPO) Renaissance International ETF (symbol: IPOS)

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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