After a steady flow through early autumn, microcap IPOs are slowing toward year-end, with two companies on the calendar this Thanksgiving week.
Bill Smith, co-founder and CEO of Renaissance Capital, said that what you see is what you get and, “As of today, if an IPO isn’t in the public pipeline, it probably won’t list in 2023.”
This week’s companies include a social good organization with a free care communication platform and a producer of electric appliances, mostly electrical hair products.
Free Care Communication Platform for Social Good
Docola (DOCO) has an estimated IPO date of Nov. 21, intending to raise nearly $7 million at an almost $31 million market cap. Founded in 2013 and based in the United States, the company is a social good organization offering a free care communication platform that integrates low-cost patient education resources from government, commercial, and nonprofit organizations.
Docola booked $70,040 in revenue for the year ended June 30, 2023. The sole bookrunner on this deal is WallachBeth Capital.
Updated IPOs
Fenbo Holdings (FEBO) had an estimated IPO date of Nov. 17, seeking to raise $5 million at a $55 million market cap. Now, the company has an estimated IPO date of Nov. 21, still aiming to raise $5 million at a $55 million market cap.
