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Ingenious Buddy

Several large issuers debuted in the US this past week, and four IPOs joined the pipeline.

Sports equipment and apparel maker Amer Sports (AS) priced below the range to raise $1.3 billion at a $6.4 billion market

4 IPOs During the Week of January 29th, 2024
Issuer Business Deal Size Market Cap at IPO Price vs. Midpoint First Day Return Return at 02/02
FibroBiologics (FBLG) $0M $281M 0% +264% +88%
Phase 1 biotech developing fibroblast-based therapies for chronic diseases.
Alto Neuroscience (ANRO) $129M $456M 7% +29% +29%
Phase 2 biotech developing biomarker-focused therapies for depression and schizophrenia.
Amer Sports (AS) $1,365M $6,412M -24% +3% +15%
Sells apparel and sports gear under brands like Arc’teryx, Salomon, and Wilson.
Fractyl Health (GUTS) $110M $810M 0% -14% -14%
Developing a medical device and other therapies for type 2 diabetes and obesity.

4 Filings During the Week of January 29th, 2024
Issuer Business Deal Size Sector Lead Underwriter
Fly-E Group (FLYE) $17M Consumer Discretionary Benchmark
Makes and sells electric bikes, motorcycles, and scooters.
XCharge (XCH) $50M Industrials Deutsche Bank
Provides DC fast chargers and related EV technology out of China and Europe.
Plutus Financial Group (PLUT) $11M Financials Pacific Century
Hong Kong-based provider of securities and asset management services.
SKK Holdings (SKK) $11M Industrials Bancroft Capital
Provides civil engineering services for utility projects in Singapore.

U.S. IPO Calendar
Issuer Business Deal Size Market Cap Price Range Shares Filed Top Bookrunners
American Healthcare REIT (AHR) Irvine, CA $756M$1,714M $12 – $1556,000,000

BofA

Morgan Stanley

Healthcare REIT with 298 properties in the US and UK.
Fortegra (TFG) Jacksonville, FL $297M$1,451M $15 – $1818,000,000

Goldman

JP Morgan

Specialty insurer focused on niche business lines and fee-based services.
Kyverna Therapeutics (KYTX) Emeryville, CA $200M$731M $17 – $1911,120,000

JP Morgan

Morgan Stanley

Phase 2-ready biotech developing cell therapies for autoimmune diseases.
Perfect Moment (PMNT) London, United Kingdom $8M$101M $6 – $71,232,000

ThinkEquity

Laidlaw (UK)

Luxury lifestyle brand focused on ski apparel and other activewear.
Amphitrite Digital (AMDI) St. Thomas, U.S. Virgin Islands $7M$61M $3.50 – $4.501,750,000 Kingswood Cap. Mkts.
Provides maritime tours and activities in the continental US and US Virgin Islands.
BBB Foods (TBBB) Mexico City, Mexico $435M$1,739M $14.50 – $16.5028,050,491

JP Morgan

Morgan Stanley

Operates more than 2,200 discount grocery stores in Mexico.
Legato Merger III (LEGT.U)) New York, NY $175M$225M $1017,500,000 BTIG
Blank check company targeting the infrastructure, E&C, industrial and renewables industries.

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