AnalytixInsight

As market volatility continued early last week after tumultuous trading the previous week, our discussions with our capital markets contacts suggest new issue pipelines remain exceptionally busy, which, in our view, bodes well for public markets relating to Canadian tech and clean tech. In the Canadian small cap space, we were encouraged to witness Sophic Client Luckbox (LUCK-TSXV), and separately, EMERGE Commerce (ECOM-TSXV) both close recently announced upsized financings. We’re also eagerly anticipating Telehealth provider Dialogue’s IPO. With Bitcoin hitting US$60K over the weekend, we expect crypto to remain an active theme globally. In the USA, Roblox and Coupang, both had strong public market debuts last week, as generally expected.

After three successive weeks of extraordinarily strong capital markets activity by the Canadian technology and clean tech sectors, this past week was impacted by ongoing market volatility as we expected last week. Public markets equity raises were under $100 million by our count. We are keeping an eye out on the performance of TAAL (an interesting Bitcoin SV play) and General Pizza (our due diligence found the pies to be delicious!). In the USA, we’re eager to see public debuts by Coupang, Instacart, Rocket Lab and Cipher in coming weeks/months.

After two consecutive weeks of extraordinarily strong capital markets activity by the Canadian technology and clean tech sectors, with total public equity fundraising announcements of around $2.5 billion. That said, recent market volatility could temper upcoming near-term activity as investors digest recent new issues and grapple with increased market fluctuations. In the USA, we look forward to upcoming public market debuts by Coinbase, Robinhood, Roblox and Toast.

After our last weekly update, highlighted a very busy week for Canadian capital markets, last week was extremely busy as well, coming in at around $900 million in public markets equity transactions. Amongst our client list, Sophic client, Luckbox (LUCK-TSXV) announced a $5 million equity financing, which was raised to $15 million owing to strong investor demand. The launch of the second-ever bitcoin ETF just days after approving the first crypto fund, in Canada (EBIT-TSX & EBIT.U-TSX) received considerable attention. In the USA, Coinbase was reportedly valued above US$100 billion, ahead of a direct listing. SpaceX raised ~US$ 850 million at a ~US$75 billion valuation.