In an interview with Cheddar TV’s Kristen Scholer, IPO Edge Editor-in-Chief John Jannarone explains that while the frigid IPO market remains difficult for most companies, those with strong financial footing, a true competitive advantage and historical profits can win over investors – suggesting the window to public markets is creaking open. He emphasized the successful debut of Mobileye Global Inc., a leading provider of advanced driver assist systems (ADAS) and autonomous vehicle (AV) solutions, whose shares surged this week after pricing above their indicative range. Mobileye has a two decade track record and is very profitable, with installations in more-than 125 million vehicles.
Another recent deal, Quality Gold Inc., a profitable logistics and jewelry distributor, announced plans to go public last week through a merger with Tastemaker Acquisition Corp. (Nasdaq: TMKR), confirming an earlier IPO Edge report. Founded in 1979, Quality Gold offers more than 165,000 jewelry and gift products with same-day shipping and serves more than 15,000 retailers. The company uses a technology platform that encompasses sourcing, distribution, logistics and drop shipping capabilities. Quality Gold generated revenue of $534 million and adjusted EBITDA of $82 million in the year through March, will have an enterprise value of $989 million. After the deal closes, the new entity will be named Quality Gold Holdings, Inc. and trade on Nasdaq under the “QGLD” ticker.
Mr. Jannarone also mentioned that Cheddar viewers are welcome to register to attend the 2022 Palm Beach CorpGov Forum, scheduled for Nov. 9 in West Palm Beach where several prominent IPO advisors and newly-listed companies will present onstage. A limited number of complimentary registrations can be secured here.
Watch the Cheddar interview below or at www.ipo-edge.com.
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