The initial public offering (IPO) market lulled to a near halt as the month of February comes to a close, with only one traditional IPO pricing last week and one looking to debut in the week ahead. However, blank check activity remains highly active, with 16 special purpose acquisition companies (SPAC) debuting and five planning to price in the days ahead.
For last week's sole listing, GreenBox POS (GBOX ) raised an offering of $44 million by pricing its 4.2 million shares at $10.50 each. The blockchain-based application developer offers solutions for a range of industries with the company's five current products. The stock finished the week up 36%.
16 blank check companies raised $3.4 billion last week, led by the $300 million listings made by CF Acquisition Corp. VI (CFVIU ), Pathfinder Acquisition Corp (PFDRU ), Simon Property Group Acquisition Holdings, Inc. (SPGSU ), Tailwind International Acquisition Corp. (TWNIU ).
For the week ahead, IDEX Biometrics ASA (IDBA ) plans to raise $19.8 million from 800,000 shares priced at $24.75 each. The biometrics company specializes in the design, development and sale of fingerprint identification and authentication solutions for a broad range of markets including payments, identifications, access control, healthcare and the Internet of Things.
Five blank check companies also plan to list this week to raise over $1.6 billion, led by Slam Corp (SLAMU ), which plans to raise $575 million to acquire an unspecified type of business.