AnalytixInsight

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.

After our entry last week, highlighting a relatively quiet week in Canadian equity markets funding, this past week was perhaps one the busiest we can recall. We counted around ten different transactions in public equity markets, totaling close to a billion dollars. From our previous sell side equity research coverage list, we noted very significant developments with Mogo acquiring a stake in Coinsquare, and a share consolidation in the theScore, ahead of a potential US listing. In the USA, we would keep an eye out for Coupang and Rivian’s public market debuts, we expect both to perform well. Amongst our client list, Sophic client, Luckbox (LUCK-TSXV) announced a meaningful addition to the company’s management team, with the appointent of former Dunder, Mr Green and Electronic Arts executive Mr. Thomas Rosander as Chief Customer Officer.