US IPO Week Ahead: IoT solutions, wine, and satellites in a 3 IPO week

The IPO market is expected to stay relatively quiet in the week ahead with three IPOs scheduled to raise $789 million.

IoT solutions developerSamsara(IOT) plans to raise $753 million at an $11.6 billion market cap. This "internet-of-things" company provides a cloud-based platform that connects the assets of businesses with physical operations, enhancing operational efficiency and asset and employee productivity. Fast growing but highly unprofitable, Samsara saw double-digit growth for customers with $100k+ ARR in the 9mo FY22.

Wine brandFresh Vine Wine(VINE) plans to raise $21 million at a $116 million market cap. This celebrity-founded company produces low carb, low calorie premium wines. Growing but highly unprofitable, Fresh Vine sells its wines through wholesale, retail, and DTC channels, and is able to conduct wholesale distribution in all 50 states and Puerto Rico.

Micro-cap satellite developerSidus Space(SIDU) plans to raise $15 million at an $81 million market cap. This company provides commercial satellite services such as design, manufacture, launch, and data collection.  Sidus Space has generated space-related manufacturing revenues to date, but is highly unprofitable with negative gross margin in the 9mo21.