One holdover and one SPAC plan to raise $235 million in the holiday week ahead.
Nano-cap auto e-tailer LMP Automotive Holdings (LMPX) plans to raise $12 million at a $45 million market cap. After decreasing its proposed share offering and slashing its valuation by 35%, the company pushed back its pricing date, possibly aiming to go public in the coming week. Oil and gas SPAC Alussa Energy Acquisition (ALUS.U) plans to raise $225 million at a $281 million market cap.
Time is running out for companies to submit initial filings and still price in 2019, so most of the year’s remaining IPOs are already in the pipeline.
Street research is expected for three companies. On Monday, November 25: Oyster Point Pharma (OYST) and RAPT Therapeutics (RAPT). On Tuesday, November 26: Fangdd Network Group (DUO).
|U.S. IPO Calendar|
|Issuer Business||Deal Size Market Cap||Price Range Shares Filed||Top Bookrunners|
|Alussa Energy Acquisition (ALUS.U)Grand Cayman, Cayman Islands||$225M $281M||$10 22,500,000||BTIG|
|Blank check company targeting oil and gas E&Ps and midstream business.|
|LMP Automotive (LMPX)Plantation, FL||$11M $45M||$5 - $6 2,090,909||ThinkEquity|
|Operates an e-commerce site where users can buy, sell, and rent cars.|
Sign up for a free trial of our premium platform, IPO Pro. Follow us on Twitter (@IPOtweet) and register for our updates on the IPO market.
Alussa Energy Acquisition
LMP Automotive Holdings LMPX
IPO Market Snapshot
US IPO Week Ahead: The IPO market takes its Thanksgiving break
Investment Disclosure: Renaissance IPO ETF (symbol: IPO) Renaissance International ETF (symbol: IPOS)