Market Wrap-Up – First Quarter 2025

This edition of my market recap covers the first quarter of 2025.  For a review of November and December 2024 see HERE and for October 2024 see HERE.

Forty-two small cap ($30,000,000 and under) IPOs priced in the first quarter of 2025 (13 in January, 15 in February and 14 in March) – a large uptick from 2024.  Below is a chart of relevant deal information for the first quarter IPOs.

Exchange Offer Amount Domestic/Foreign Issuer Banker(s)
Nasdaq Capital $8,000,000 Foreign AC Sunshine Securities, LLC
Nasdaq Capital $6,000,000 Foreign Kingswood Capital Partners, LLC
Nasdaq Capital $5,000,000 Foreign Craft Capital Management, LLC and Boustead Securities, LLC
Nasdaq Capital $7,000,000 Foreign Benjamin Securities, Inc. and Prime Number Capital, LLC
Nasdaq Capital $8,400,000 Foreign R.F. Lafferty & Co., Inc.
Nasdaq Capital $5,614,740 Foreign Bancroft Capital, LLC and Eddid Securities USA
Nasdaq Capital $7,000,000 Foreign Benjamin Securities, Inc. and Prime Number Capital, LLC
NYSE MKT $10,000,000 Domestic Alliance Global Partners
Nasdaq Capital
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