IPO News - US IPO Weekly Recap: IPO market stays fairly quiet during the short holiday week
Summary
The IPO market remained fairly quiet during the short holiday week, with one traditional IPO and four blank-check (SPAC) listings. Facial recognition software provider Rank One Computing upsized and priced at the high end, raising $24 million and finishing up 3% after launch; the company develops AI for biometric ID, video analytics, and digital evidence for government and regulated commercial customers. Four SPACs went public, led by Averin Capital Acquisition which raised $250 million and will target opportunities at the intersection of technology and health, while several other SPACs and a medtech filer (Medical 21) joined the pipeline. Renaissance IPO indices showed mixed performance year-to-date, with the U.S. IPO index down 2.0% while the international IPO index rose 17.6% versus modest S&P gains.