A late-August filing burst pushed a handful of micro-cap deals toward the finish line, while one larger, fundamentals-heavy name (Aggreko) quietly joined the pipeline with real scale and data-center exposure. The other clear development was how thin the formal calendar was versus the amount of “paper” moving through EDGAR.

In pre-IPO markets, secondary marks continued to imply trillion-dollar outcomes for the biggest private AI and space names, while perpetual-futures funding showed where traders were paying up to hold longs (and where they were being paid to stay short).

What's coming

  • Fast Track Group (FTRK) set offering terms (Aug. 28). The Singapore-incorporated issuer put a $4.00 price on its deal, implying an $85 million market cap. The filing describes a five-employee operation selling end-to-end event management and marketing across Asia-Pacific—spanning experiential marketing, artiste endorsement/management, movie premieres, grand openings, concerts, PR and technical production.

  • Lianhe Sowell International Group Ltd (LHSW) updated its terms (Aug. 27). The China-focused machine-vision vendor again carried a $4.00 price point and targeted a $10 million raise at a $208 million market cap. The filing’s operational detail matters here: the company positions its offering as a mix of industrial machine vision (defect detection), face recognition and AI behavior analysis, “weak current” building/transport systems (IBMS/ITS), and electronic customs clearance; it also highlights a nine-axis linkage spray-painting robot developed in 2022 aimed at vehicle repair/maintenance.

  • Kepler Group Ltd (KPL) kept a broad range live (Aug. 24). The Hong Kong insurance broker maintained a $6.00–$8.00 range for an $8 million raise (implied $138 million market cap). The filing concentrates revenue in one line: life insurance brokerage was ~95% of revenue in the years ended March 31, 2025 and 2024, and management’s stated next step was to open a Singapore branch and pursue a local brokerage license as the first leg of a Southeast Asia expansion plan.

  • Siyata PTT (PTT) set terms (Aug. 25). The issuer put a $7.00 price on the deal for a targeted $39.6 million raise. Its filing frames the business around two product categories sold to first responders and enterprise customers: rugged handheld LTE/5G devices and in-vehicle communications solutions, with product development centered in an Israeli subsidiary and North American sales/marketing run from Quebec.

How the week's deals went

  • Advasa Holdings (ADBT) started trading (Aug. 25) after a messy week of signals. Nasdaq’s calendar had briefly shown the deal “slipped off” (the company was absent for two consecutive daily syncs while still scheduled, per the dataset), but trading ultimately began. In its IPO materials, Advasa described FUKUPE, a patented earned-wage-access platform designed to integrate with employer HR/payroll systems and deliver wages via mobile wallets, prepaid cards, and bank transfers; UBS was listed as underwriter, and the company cited competitors including ADP, Paychex, Block, and PayPal.

  • Republic Power Group Ltd (RPGL) priced (Aug. 27). The Singapore/Malaysia-focused ERP vendor priced at $4.00, targeting a $15 million raise at a $69.4 million market cap. The filing’s key point is product direction: alongside customized ERP software and consulting, it disclosed development of a subscription-based SaaS ERP product line.

Before they list

  • Nasdaq Private Market’s June 28 secondary prints kept the “mega-private” stack in trillion territory. The dataset showed secondary marks of roughly $1.67T for SpaceX, $1.08T for Anthropic, and $868B for OpenAI (all as of 2026-06-28, Nasdaq Private Market). Even without an IPO filing in hand, those marks set a reference point for how far private clearing prices have moved away from “late-cycle 2021” anchors.

  • Perpetual-futures funding signaled asymmetric positioning in a few pre-IPO contracts. On Hyperliquid, Quantinuum longs were paying about 26.1% annualized (7d) and 12.4% (30d) as of 2026-08-30, while SharonAI showed a split personality: -10.3% annualized (7d) but +36% (30d)—i.e., recent shorts being paid to hold versus a longer window that still reflected expensive longs. On Kraken, the dataset showed modestly positive long funding in OpenAI (5.6% annualized 7d) and Anthropic (6.1% 7d), with SpaceX closer to flat (0.8% 7d). (Funding is positioning, not performance.)

  • Polymarket’s SpaceX market-cap brackets priced a narrow “center” outcome—and near-zero odds for extreme tails. In a complete bracket set (yesPriceSum 1.007), Polymarket priced “between $2.0T and $2.5T” at 0.945 (“Yes”) with $396,337 in volume, while pricing “less than $1.0T” at 0.0005 with $318,967 in volume and “at least $3.5T” at 0.0005 with $232,793 in volume. (All from the SpaceX IPO closing market-cap event listed in the dataset.)

Also this week

  • Aggreko Inc. (AGKO) filed publicly (Aug. 24) with enough operating detail to anchor the “real economy” end of the IPO stack. The company described itself as a global provider of engineered energy and temperature solutions with ~8,000 employees, serving 14,000+ customers in 80+ countries. It reported $3.4 billion net revenue for the year ended Jan. 3, 2026, and singled out data centers as a fast-growing vertical (revenue increasing from $96 million to $391 million between fiscal 2023 and fiscal 2026). It also disclosed an owned fleet of about 120,000 assets with 17 GW total capacity and 54% average physical utilization in fiscal 2026.

  • Living Homeopathy International Ltd. withdrew (Aug. 24). The issuer filed an RW to pull its offering; the prior registration described a Hong Kong homeopathy service/provider selling remedies and related products under the “LIVING” brand and marketing through a mentor‑mentee commission network.

  • Spinnova Plc (SPNV) filed (Aug. 27) to bring a Finnish textile platform to the U.S. market. Spinnova’s filing emphasized an IP-protected mechanical process for making textile fibre using multiple renewable/recycled feedstocks (including wood pulp and textile/agriculture/leather waste) and disclosed its patent posture: 68 granted patents and 99 pending applications as of Dec. 31, 2025.

  • A cluster of small F-1/S-1 issuers filed or amended with very specific “what they sell” disclosures. NEXTNRG/EzFill (EZFL) described app-based mobile fuel delivery in South Florida operating 13 delivery trucks; HomesToLife (HTLM) described luxury/contemporary home furniture retail in Singapore under Domicil and Fabbrica brands; Haoxin (HXHX) described temperature-controlled truckload and urban delivery in China with planned cold warehouses and pharma transport; and Off The Hook (OTH) described a multi-location U.S. yacht and boat dealership.

The agenda

No scheduled items were provided in this week’s agenda dataset.

Upcoming windows to watch from the dataset: MMED lockup (Tue, Sep 1) and SCTX quiet period event (Tue, Sep 1).