RTLR - U.S. IPO Week Ahead: IPO Market Cashes In On Crypto As Canaan Leads 5-IPO Week
Five IPOs and two SPACs plan to raise $634 million in the week ahead.
One of the leading makers of cryptocurrency mining equipment, Canaan (CAN) plans to raise $100 million at a $1.6 billion market cap. It originally filed to raise $400 million (and in 2018 was rumored to be targeting over $1 billion). The #2 player in the space, Canaan has shown that it's capable of being highly profitable, with a 61% net margin in the 1Q18. However, its performance is heavily influenced by Bitcoin prices; a price slump earlier in the year caused