Three IPOs and nine SPACs went public in the week of February 7, 2022 led by The Arena Group (NYSE: AREN), media holding company operating Sports Illustrated, TheStreet, and other brands, raised $30 million at a $172 million market cap and finished 0% above its IPO price.
Provider of customer experience software and IT services in Japan, HeartCore Enterprises (NASDAQ: HTCR) raised $15 million at a $98 million market cap and finished 17% below its IPO price.
Provider of universal power-plug devices for light fixtures and ceiling fans, Sky Technologies (NASDAQ: SKYX) raised $23 million at a $1,378 million market cap and finished 25% below its IPO price.
The nine SPACs went public this past week are:
1. Counter Press Acquisition (sports, media, and data analytics sectors SPAC)
2. Evergreen Corp (tech-focused businesses in Asia SPAC)
3. HNR Acquisition (North American energy sector SPAC)
4. Jaguar Global Growth I (no selected target industry)
5. Signal Hill Acquisition (DTC media, tech, and emerging digital enterprise-focused businesses SPAC)
6. Relativity Acquisition (cannabis industry SPAC)
7. Aurora Technology Acq. (tech businesses formed by Asian or Asian-American entrepreneurs SPAC)
8. LIV Capital Acq. II (Mexico SPAC)
9. byNordic Acquisition (fintech business in northern Europe SPAC)
Together, all the SPACs raised a total of $1.1 billion.
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