The summer of 2024 is bustling with initial public offerings (IPOs), where new companies are entering the market. From technology firms to health tech, diverse companies have filed for IPOs, aiming to raise substantial capital by listing publicly.

Let’s begin the overview of the companies filing IPOs in July and August and listing this summer by exploring their value in the market.

What is an IPO?

An initial public offering (IPO) refers to shares of a private firm that have been made available to the public for the first time. An IPO allows a firm to raise equity money from public investors.

For example, one of the IPO that gained popularity among young investors was Reddit on 21 March 2024.

What does Filing an IPO mean?

Filing an IPO refers to the process through which a private company offers its shares to the public for the first time, thus becoming a publicly traded company.

This SEC-regulated phase transforms the company into a publicly traded entity, allowing it to raise funds from individuals and investors to raise their capital.

The difference between Filing an IPO and Going Public

Filing an IPO involves submitting the necessary documents to the SEC to offer shares publicly. Going public is the broader process, including the IPO filing, marketing shares to investors, listing on a stock exchange, and transitioning from private to public ownership.

List of Companies Filing IPOs in July

Here is the list of companies filing IPOs in July and going public this summer:

Diamond Water Origin Supply Chain Technology Group Co., Ltd. 

• Symbol: ZSSY
• Date Filed: July 3, 2024
• Offer Amount: $24,998,400
• IPO Price: $26.88
• Shares Offered: 930,000

Diamond Water Origin Supply Chain Technology Group is currently a holding company. It is in discussions to acquire Guizhou Blue Crown Water Technology Co., Ltd., which specializes in water treatment equipment under the ‘Diamond Water’ brand. 

In supply chain solutions, Diamond Water Origin Supply Chain Technology Group is set to raise approximately $25 million. The company aims to leverage the funds to expand its technological capabilities and enhance global logistics operations.

Key executives include Chen Jia (CFO), Yang Jizong (CEO), Yang Houhong (VP), and Luo Qin (Secretary).

Dynamix Corp

• Symbol: 
• Date Filed: July 8, 2024
• Offer Amount: $172,500,000
• IPO Price: $10.00
• Shares Offered: 15000000

Dynamix Corp, a blank check company targeting the energy and power value chain, filed to raise an IPO. Each unit, priced at $10, includes one share and half a warrant. Led by CEO Andrea Bernatova, Dynamix focuses on low-carbon energy transition sectors. The company plans to list on the Nasdaq with Cohen & Company Securities as the sole bookrunner.

Dynamix Corp plans to set an offer amount of $172.5 million. Their objective is to finish their initial business combination with such a company and increase stakeholder value by implementing operational changes and growing the business in a capital-efficient manner.

BeLive Holdings 

• Symbol: BLIV  
• Date Filed: July 10, 2024
• Offer Amount: $20,700,000
• IPO Price: $4.00 – $6.00
• Shares Offered: 3,000,000

BeLive provides live commerce and short video solutions for international retail companies and e-commerce marketplaces. They allow customers to create interactive and immersive videos that can be aired in real time and replayed instantly. BeLive plans to set an offer amount of $20.7 million.

They offer two main solutions: an enterprise-grade White Label solution and a cloud-based SaaS solution for quick and cost-effective implementation. 

Key executives include Kenneth Teck Chuan Tan (CEO and Chairman), Abdul Latif Bin Zainal (CFO, CSO, Secretary, and Director), Ken Jing Wei Ang (COO), and Hassan Abid (CTO).

YXT.COM GROUP HOLDING Ltd 

• Symbol: YXT
• Date Filed: July 12, 2024
• Offer Amount: $50,000,000
• IPO Price: Not available
• Shares Offered: Not available

YXT.COM Group is a leader in the digital corporate learning industry in China. YXT.COM offers a SaaS model that integrates software and content, helping customers with digital transformation. Their initial offer amount is set at $50 million.

Their solutions are useful for corporate learning scenarios and applicable across different industries. 

Key executives include Xiaoyan Lu (Founder, Chairman), Teng Zu (CEO), Jie Ding (Co-founder), Pun Leung Liu (CFO), Yazhou Wu (CTO), Guodian Huang, and Yunjian Ling (Independent Directors).

Bleichroeder Acquisition Corp. I 

• Symbol: BACQU
• Date Filed: July 12, 2024
• Offer Amount: $287,500,000
• IPO Price: $10.00
• Shares Offered: 25000000

Bleichroeder Acquisition Corp. I, a blank check company formed by investment veterans targeting the TMT sector, filed with the SEC to raise $250 million in an initial public offering. They plan to offer 25 million units at $10 each, consisting of one share of common stock and one-quarter of a warrant, exercisable at $11.50. They target businesses in the technology, media, and telecommunications sectors. 

The acquisition corporation is focused on identifying and merging with promising businesses in the technology sector.  

Key executives include Andrew Gundlach (CEO, President, and Chairman of the Board), Robert Folino (CFO), and director nominees Joseph Samuels, Antoine Theysset, and Nazim Cetin. 

ADVEN INC.

• Symbol: ADVEN
• Date Filed: July 12, 2024
• Offer Amount: $11,040,000
• IPO Price: $4.00 – $6.00  
• Shares Offered: 1600000

AdvEn, an emerging growth company in Alberta, Canada, aims to commercialize carbon-centric advanced technologies using industrial waste, converting refinery residues into non-combustible products for energy storage and maintaining a clean environment. 

Though not yet generating revenue, AdvEn has completed its initial production plant for advanced super-activated carbon (ASAC) products, with commercial production expected to start in Q3 2024. 

Key executives include Dr. Yanguang Yuan as Chief Executive Officer and Director, Philip Chong as Chief Financial Officer and Director, Dr. Grzegorz Ombach as Chairman of the Board, John Meekison as Director, and Donald Nicholson as Director.

Gelteq Ltd

• Symbol: GELS
• Date Filed: July 15, 2024
• Offer Amount: $7,475,000
• IPO Price: $5.00
• Shares Offered: 1,300,000

Gelteq, a clinical and science-based company, is launching an IPO to commercialize its white-label gel-based delivery solutions for prescription drugs, nutraceuticals, pet care, and other products. Specializing in edible gels, Gelteq’s products span five core verticals: pets, sports, pharmaceuticals, OTC, and nutraceuticals, utilizing patent-pending multiple-ingredient dosage forms. 

Gelteq focuses on out-licensing its technology to companies for product development and manufacturing while continuing to produce existing licensed products. With food-grade classifications, many products bypass regulatory hurdles. 

Key executives include Simon H. Szewach (Executive Chairman), Nathan J. Givoni (CEO), Neale A. Java (CFO), Jeffrey W. Olyniec, Dr. Paul M. Wynne, and Hon. Philip A. Dalidakis (Independent Directors).

Metros Development Co., Ltd. 

• Symbol: MTRS
• Date Filed: July 16, 2024
• Offer Amount: $18,687,500
• IPO Price: $5.50 – $6.50
• Shares Offered: 2,500,000

Metros Development, a real estate consulting company, is launching an IPO to expand its operations. The company identifies and purchases underdeveloped properties, and then resells them to developers for redevelopment. 

Metros Development does not engage in construction, building, or realtor services. 

Key executives include Yoshihiro Koshiba (CEO), Hirokazu Tsukahara (CFO), Hiroshi Tamura (Secretary), and corporate auditors Hidehiko Goto, Akihiro Hayakawa, and Toshikazu Takahashi.

Expectation Acquisition Corp

• Symbol: ESPAU
• Date Filed: July 16, 2024
• Offer Amount: $69,000,000
• IPO Price: $10.00
• Shares Offered: 6000000

Expectation Acquisition Corp is a blank check company incorporated in the British Virgin Islands, formed to engage in mergers, acquisitions, or similar business combinations with one or more entities. It owns a growth business with a total enterprise value of between $200,000,000 and $400,000,000.

While not limited to any geographic region, they intend to focus on businesses connected to the Asian market. Their goal is to add value by providing these businesses access to the U.S. capital markets. 

Key executives include Wanjiao Pu (Chairman and CEO), Chi Zhuang (CFO and Director), Ziqiang Zheng (Director), Jun Liu (Director), and Hai Lin (Director). 

GSR III Acquisition Corp. 

• Symbol: GSRTU
• Date Filed: July 16, 2024
• Offer Amount: $230,000,000
• IPO Price: $10.00
• Shares Offered: 20,000,000

GSR III Acquisition Corp. is a blank check company established to pursue mergers, share exchanges, asset acquisitions, share purchases, reorganizations, or similar business combinations with one or more businesses. 

They plan to focus on high-potential businesses based in the United States. 

Key executives include Gus Garcia and Lewis Silberman (Co-CEOs), Anantha Ramamurti (President and CFO), and Yuya Orime (Chief Business Development Officer). 

Vine Hill Capital Investment Corp. 

• Symbol: VCICU
• Date Filed: July 18, 2024
• Offer Amount: $230,000,000
• IPO Price: $10.00
• Shares Offered: 20,000,000

Vine Hill Capital Investment is a newly incorporated blank check company formed to effect mergers, share exchanges, asset acquisitions, share purchases, reorganizations, or similar business combinations. They intend to focus on industries that align with the management team’s expertise, particularly in the industrial and services sectors. 

Key executives include Dean Seavers (Executive Director Nominee), Nicholas Petruska (CEO and Director), Daniel Zlotnitsky (CFO and Director Nominee), Gregory Ethridge (Director Nominee), and John Adams (Director Nominee). 

Fatpipe Inc/UT 

• Symbol: FATN
• Date Filed: July 19, 2024
• Offer Amount: $17,250,000
• IPO Price: Not available
• Shares Offered: Not available

FatPipe is a secure software-defined wide area network (SD-WAN) solution for organizations, including enterprises, service providers, and government bodies. As reliance on IT networks grows, managing network reliability, security, and complexity becomes crucial. 

FatPipe offers a suite of software solutions like SD-WAN, secure access service edge (SASE), and network monitoring services (NMS) on a subscription basis to ensure secure and efficient network operations. 

The global market for these solutions is expanding rapidly, with significant growth projected through 2030. Founded in 2010, FatPipe is based in Salt Lake City, UT, and has subsidiaries in India and Utah. Key executives include Ragula Bhaskar, the founder & CEO of Pipefit Solution Pvt Ltd.

Launch Two Acquisition Corp. 

• Symbol: LPBBU
• Date Filed: July 24, 2024
• Offer Amount: $230,000,000
• IPO Price: $10.00
• Shares Offered: 20,000,000

Launch Two Acquisition Corp., a blank check company incorporated as a Cayman Islands-exempted company, was established to pursue a business combination such as a merger, share exchange, asset acquisition, or similar transaction. As of now, Launch Two Acquisition Corp has not identified a target or engaged in substantial discussions regarding any business combination. 

Their initial business combination could occur in any industry. The key executives are Jay McEntee, Chief Executive Officer and Chairman of the Board; Jurgen van de Vyver, Chief Financial Officer; and director nominees Lynn Eisenhart, Jeffrey M. Shanahan, and Alfred J. Pierce III.

Pyro AI Inc. 

• Symbol: PYRO
• Date Filed: July 24, 2024
• Offer Amount: $12,937,500
• IPO Price: $4.00 – $5.00
• Shares Offered: 2,250,000

Pyro AI, headquartered in Hong Kong, is a pioneering mobile and online game development company founded in 2021. They are in the process of redefining interactive gaming by leveraging cutting-edge technologies and delivering immersive experiences that captivate and connect players globally. 

The key executives leading our vision include Wu Kin Chung as Director, Chief Executive Officer, and Chairman of the Board; Lam Kin Fai as Director and Chief Operating Officer; and Man Siu Hin as Chief Financial Officer. Additionally, Yau Hiu Tung is the Chief Technology Officer Nominee, with Yu Jianjun, Ng Yuen Lam, and Chen Mingzhu serving as Independent Director Nominees.

Job Aire Group Inc. 

• Symbol: JAG
• Date Filed: July 24, 2024
• Offer Amount: $10,120,000
• IPO Price: $4.50 – $5.50
• Shares Offered: 1,600,000

Job Aire Group is a 16-year-old professional services company specializing in comprehensive staffing solutions for the aviation industry. They built a strong reputation for delivering top-notch services, having industry knowledge, and understanding of the aviation workforce. The company aims to grow organically and through potential acquisitions. 

Key executives include Nicholas Ammons (CEO, President, Director), Kent Hush (CFO, Director), Courtney Jordan (COO), David Riggs (Chief Compliance Officer), and directors Barrett Evans, John Dorton, and Harold Martin.

Shepherd Ave Capital Acquisition Corp

• Symbol: SPHAU
• Date Filed: July 24, 2024
• Offer Amount: $86,250,000
• IPO Price: $10.00
• Shares Offered: 7500000

Shepherd Ave Capital Acquisition Corp is a blank check company incorporated in the Cayman Islands on May 31, 2024. Their purpose is to merge with or acquire one or more businesses, known as a “target business. They do not have any specific target and didn’t contact anyone for prospective business. 

Shepherd Ave Capital Sponsor LLC is solely owned by Mr. Carmelo Caschetto. The company is supported by experienced officers and directors skilled in sourcing, investing, and value enhancement.

Founder Group Ltd

• Symbol: FGL
• Date Filed: August 1, 2024
• Offer Amount: $14,375,000
• IPO Price: $4.00 – $5.00
• Shares Offered: 2,500,000

Founder Group Ltd provides innovative solar installation services to promote eco-friendly resources and achieve carbon neutrality. They mainly focus on large-scale and commercial solar projects in Malaysia. From designing to commissioning their large-scale projects have generated 89% of revenue, while commercial projects accounted for 11%. Where they also provide maintenance services.

Founder Group aims to serve clients with innovative solar installation services, promote environmentally friendly resources, and achieve carbon neutrality. Key executives are Lee Seng Chi the Chief Executive Officer, Director, and Chairman of the Board of Directors. See Sian Seong as the Chief Financial Officer. Thien Chiet Chai is a non-executive director.

Conclusion

The list of IPO filings during the summer of 2024 signals a period of investment with confidence and market optimism. The diverse sectors represented in this wave of IPOs highlight economic growth and innovation. 

As these companies transition to the public market, they will shape the investment landscape and contribute to the overall economic trajectory. Always consider the scope and goals of the company to make wise investment decisions and achieve good returns.

FAQs

1. Why do companies file IPO?

Companies file IPOs to raise capital from public investors, enhance their market visibility, and provide liquidity for existing shareholders by becoming publicly traded entities.

2. What happens after an IPO is filed?
   

After an IPO is filed, the SEC reviews the filing, the company markets the shares to investors, sets the share price, and then lists it on a stock exchange.

3. Who is eligible for IPO?
   

Eligibility for an IPO typically includes financially stable companies with a proven business model that meets regulatory requirements set by the SEC, including audited financial statements and corporate governance standards.

4. How many shares can I buy in IPO?
   

The number of shares you can buy in an IPO depends on the allocation process, which is influenced by the demand for shares, the investor category you belong to (retail, institutional, etc.), and the maximum limit set by the underwriters.