By Aman Jain

After a record IPO season in 2021, the global IPO market witnessed a drop in Q1 2022. Though January continued the momentum of Q4 2021, the uncertainty in the second half of the quarter scared investors away. Overall, the global IPO market saw 321 deals in Q1 2022, a drop of 37% from the same period last year. In the U.S., 37 deals (a drop of 72%) were completed in Q1, raising $2.4 billion (a drop of 95%) in proceeds. Let’s take a look at the ten worst performing IPOs in Q1 2022.

Ten Worst Performing IPOs In Q1 2022

We have used the Q1 return data (from finviz.com) of companies that went public in Q1 2022 to come up with the ten worst performing IPOs in Q1 2022. Following are the ten worst performing IPOs in Q1 2022.

Amylyx Pharmaceuticals (-29%)

Founded in 2013 and headquartered in Cambridge, Massachusetts, it is a biopharmaceutical company that offers disease-modifying solutions for neurodegenerative diseases by focusing on streamlined clinical development and drug discovery. Its shares are down over 48% in the last month and over 10% in the last five days. Amylyx Pharmaceuticals shares are currently trading at over $10.90, giving it a market cap of more than $600 million. The company went public in the first week of January 2022.

Vigil Neuroscience (-38%)

Founded in 2020 and headquartered in Massachusetts, it is the world’s first microglia-focused therapeutics company that aims to treat rare and common neurodegenerative diseases by restoring the vigilance of the microglia. Its shares are down almost 17% in the last month but are up over 5% in the last five days. Vigil Neuroscience shares are currently trading at over $6.70, giving it a market cap of more than $190 million. The company went public in early January 2022.

Semper Paratus Acquisition (-42%)

Founded in 2021 and headquartered in New York, it is a blank check company that is formed for effecting a merger, stock purchase, reorganization, acquisition, and other similar transactions. Its shares are up almost 5% in the last month but are down over 1% in the last five days. Semper Paratus Acquisition shares are currently trading at over $0.27.

Talon 1 Acquisition (-44%)

Founded in 2016 and headquartered in Coral Gables, Florida, it is another blank check company that was formed for effecting a merger, acquisition, share purchase, and other similar business combination. Talon 1 Acquisition shares are up over 13% in the last month and over 3% in the last five days.

Innovative International Acquisition (-46%)

Founded in 2021 and headquartered in Dana Point, California, it is a blank check company with the objective to facilitate a merger, acquisition, and more. Its shares are up almost 26% in the last month and almost 19% in the last five days. Innovative International Acquisition units are currently trading at over $0.21.

Arena Fortify Acquisition (-48%)

Founded in 2021 and headquartered in New York, it is a blank check company that was formed for the purpose of carrying out a merger, acquisition, stock purchase, and more. Its shares are up almost 14% in the last month. Arena Fortify Acquisition shares are currently trading at over $0.24.

Games & Esports Experience Acquisition (-55%)

Founded in 2021 and headquartered in Los Angeles, it is a capital pool company that was formed to facilitate a merger, asset acquisition, stock purchase, and more. Its shares are up almost 96% in the last month and almost 50% in the last five days. Games & Esports Experience Acquisition shares are currently trading at over $0.20.

Smart for Life (-59%)

Founded in 2017 and headquartered in Miami, it is a wellness company that deals in a broad spectrum of nutritional and related products. Its shares are down almost 8% in the last month and almost 7% in the last five days. Smart for Life shares are currently trading at over $0.93, giving it a market cap of more than $30 million. The company went public in mid-February 2022.

Hour Loop (-62%)

Founded in 2015 and headquartered in Redmond, Washington, this company uses machine learning and data analytics to come up with technology-enabled consumer products. Its shares are down over 6% in the last month but are up almost 2% in the last five days. Hour Loop shares are currently trading at over $3.20, giving it a market cap of more than $100 million. The company went public in the first week of January 2022.

Modiv (-74%)

Founded in 2015 and headquartered in Newport Beach, California, it is a real estate investment trust that mainly invests in the fintech and proptech sectors. Its shares are up almost 7% in the last month and over 2% in the last five days. Modiv shares are currently trading at over $18.40, giving it a market cap of more than $140 million. The company went public in the second week of February 2022.

Originally published at ValueWalk.  

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