Editor’s Note: Elon Musk is rushing to take SpaceX public before July. It’ll be the biggest IPO in history – valuing the company at $1.5 trillion. You can claim a stake in SpaceX right now – before it starts trading on NASDAQ.
The President’s Day holiday closed the financial markets on Monday. That shortened trading week discouraged many companies from going public.
There was only one conventional IPO’d this week. It was an Artificial Intelligence company called Rank One Computing (NASDAQ: ROC) that started trading on Friday.
Rank One Computing is an artificial intelligence company. The company provides real time and forensic video analytics. ROC serves U.S. federal government agencies and works in defense and national security.
The prospectus explains “Our Vision AI platform delivers real-time facial recognition, multimodal biometric verification, video analytics, and AI-powered evidence analysis to mission-critical organizations across private and public sectors.”
This is a tiny company that generated $16 million in sales in the last 12-months. It reported a net loss of $1 million.
The IPO was priced at $6.00 – that was the high end of the $5 - $6 per share range. The offering size was also increased from an original 3 million shares to 4 million shares. The higher price – and larger offering – suggests strong demand for this deal.
ROC raised $24 million in the transaction. The company’s market value is $99 million.
SPAC IPO Activity
Additionally, four SPACs went public with each raising $150 - $250 million. These blank check companies will begin searching for acquisition targets.
Infleqtion (NASDAQ: INFQ) went public via a reverse merger with a SPAC called Churchill Capital Corp. The company raised $675 million through the transaction.
That deal was completed at $10 per share. The stock traded as high as $14 per share this week for a 40% gain.
The IPO market may be quiet right now. However, all eyes are on Mega IPOs from SpaceX, OpenAI and Anthropic.
That’s why I’m claiming a stake right now at a steep Pre-IPO discount.
Ian Wyatt