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Upcoming IPO next week roaming at Wall Street
US IPO Watch: List of upcoming initial public offerings this week

There are money-making opportunities galore in the US stock market. Several top-quality stocks keep allowing investors to buy them during dips and corrections. And, then some companies hit the stock market with their initial public offerings (IPOs) as well.

IPO

Image: The Economic Times

This week, the US IPO market is witnessing quite a few IPOs. Some of which may have a bumper listing as well. One can even buy the stocks of international companies from India after they get listed on the US stock exchanges. Some of the upcoming IPOs (Nasdaq website) add on to the US IPO list 2021.

Trajectory Alpha Acquisition Corp

Trajectory Alpha Acquisition Corp. (the “Company”), a special purpose acquisition company, announced the pricing of its initial public offering of 15,000,000 units for $10.00 per unit. The units will be listed on the New York Stock Exchange and trade under the ticker symbol “TCOA.U” beginning December 10, 2021.

Each unit consists of one share of Class A common stock of the Company and one-half of one redeemable public warrant. Each whole public warrant entitles the holder thereof to purchase one share of Class A common stock of the Company at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the shares of Class A common stock and public warrants are expected to be listed on the New York Stock Exchange under the symbols “TCOA” and “TCOA WS,” respectively.

Guggenheim Securities, LLC is serving as the sole book-running manager for this offering. The Company has granted the underwriters a 45-day option to purchase up to 2,250,000 additional units at the initial public offering price to cover over-allotments if any. The offering is expected to close on December 14, 2021, subject to customary closing conditions.

Fresh Vine Wine

Currently called Fresh Grapes, LLC, the company will convert to Fresh Vine Wine, Inc. in the IPO process. It will offer 2.2 million shares at a $9–$10 price range. Renaissance Capital noted that if it prices in the midpoint of the proposed range, it will have a market value of $116 million. The IPO date hasn’t been set yet.

 

The company intends to list on the NYSE under the ticker symbol “VINE.” The book runners on the IPO deal are Oak Ridge Financial and Boustead Securities.

Wine brand Fresh Vine Wine (VINE) plans to raise $21 million at a $116 million market cap. This celebrity-founded company produces low-carb, low-calorie premium wines. Growing but highly unprofitable. Fresh Vine sells its wines through wholesale, retail, and DTC channels, and can conduct wholesale distribution in all 50 states and Puerto Rico.

Samsara

IoT solutions developer Samsara (IoT) plans to raise $753 million at an $11.6 billion market cap. This “internet-of-things” company provides a cloud-based platform that connects the assets of businesses with physical operations, enhancing operational efficiency and asset and employee productivity. Fast-growing but highly unprofitable, Samsara saw double-digit growth for customers with $100k+ ARR in the 9mo FY22.

Samsara plans to offer 35 million shares, priced at $20 to $23 each, as soon as Wednesday. The high end of that would more than double the company’s valuation to $11.5 billion, just as it’s shoring up its fiscal bonafide:

While Samsara is not profitable, losses fell to $102.3 million in the nine months of 2021 leading to October, compared to $174 million in losses during the same period last year. Revenue also soared 74% to $302.6 million.

Southport Acquisition Corporation

Southport Acquisition Corporation (the “Company”) announced today that it priced its initial public offering of 20,000,000 units at $10.00 per unit.

The units have been approved for listing on the New York Stock Exchange (the “NYSE”) under the symbol “PORT.U” and are expected to begin trading on the NYSE on December 10, 2021. Each unit consists of one share of the Company’s Class A common stock and one-half of one warrant. With each whole warrant entitling the holder thereof to purchase one share of the Company’s Class A common stock at a price of $11.50 per share, subject to adjustment. Only whole warrants are exercisable. Once the securities constituting the units begin separate trading, the shares of Class A common stock and the warrants are expected to be listed on the NYSE under the symbols “PORT” and “PORT.W,” respectively.

The offering is expected to close on December 14, 2021, subject to customary closing conditions.

BofA Securities is acting as the sole underwriter for the offering. The Company has granted BofA Securities a 45-day option to purchase up to an additional 3,000,000 units to cover over-allotments.

Sidus Space, INC.

Micro-cap satellite developer Sidus Space (SIDU) plans to raise $15 million at an $81 million market cap. This company provides commercial satellite services such as design, manufacture, launch, and data collection.  Sidus Space has generated space-related manufacturing revenues to date but is highly unprofitable with a negative gross margin in the 9mo21.

Merritt Island-based space services company Sidus Space, INC. could soon go public in the US equity markets as it has received approval to list its Class A Common Stock.

Revealing the number of shares and its price range, the company mentioned in its prospectus that it is looking to sell three million shares of Class A Common Stock. The price range of the offering would be between US$ 4 to US$ 6 per share.

Sidus Space was earlier known as Craig Technologies Aerospace Solutions, and it focuses on designing, manufacturing, and launching a commercial satellite. It mentions that it is a space-as-a-service company and is also involved in delivering data and analytics to global and domestic customers.

Athena Technology Acquisition Corp

Blank check company Athena Technology Acquisition Corp. II (NYSE: ATEK.U) went public today on the New York Stock Exchange. The company is seeking to raise US$250.0 million through its initial public offering.

The offering consists of 25.0 million company units priced at US$10.00 per unit. Each unit is composed of one Class A common share and one-half of a purchase warrant. Each whole warrant is redeemable to purchase one common share at US11.50 per share.

The units will be trading under the symbol “ATEK.U” but once the securities are separated, the common shares and the purchase warrants will be trading on the big board under the symbols “ATEK” and “ATEK.WS”, respectively.

Citigroup Global Markets serves as the sole book-runner for the offering. The company has granted the underwriters a 45-day over-allotment option to purchase additional 3.75 million company units at the same IPO price.

BurTech Acquisition

BurTech Acquisition, a blank check company targeting the retail, lifestyle, hospitality, tech, and real estate markets. They filed on Thursday with the SEC to raise to $250 million.

The Washington, DC-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, BurTech Acquisition would command a market value of $333 million.

The company is led by CEO and Chairman Shahal Khan, the founder, and CEO of Burkhan World Investments, a holding company with diversified investments focusing on reinvesting gains from portfolio investments into companies that have the potential to accelerate sustainability. The company plans to target businesses that participate in the retail, lifestyle, hospitality, technology, or real estate markets. They are focusing on those with large addressable markets, attractive customer demographics, and brand recognition, among other characteristics.

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