IPO Stream — Slow Week, But It's August — Aug 31–Sep 1, 2026
IPO STREAM
FIRST IN WINS
SLOW WEEK,
BUT IT'S AUGUST
August 31 – September 1, 2026 · ipostream.com
4 Smaller Offerings · Restaurant · Web3 · Industrial · Metalens · Published August 31, 2026
Good morning all and welcome. I want to get right to it this morning. It's another quiet late-August stretch — the calendar is light on traditional non-SPAC deals, with a handful of smaller offerings clustered for the week of August 28.
If this sounds familiar — it is. Generally this time of year is a slow go, but opens fast and hard after Labor Day.
THIS WEEK AT A GLANCE
| Company |
Ticker |
Size |
Price Range |
Underwriter |
| Riku Dining Group |
RIKU |
$25M |
$4–$6 |
Eddid Securities USA |
| Web3Labs Global |
MDAT |
~$28.1M |
$4–$5 |
Eddid Securities USA |
| BW Industrial Holdings |
BWGC |
~$17.1M |
$6–$7 |
Eddid Securities USA |
| MetaOptics |
MOT |
~$18M |
$5–$7 ADS |
Roth Capital, Benchmark |
FULL BREAKDOWN
Nasdaq · 5M Shares · Sole Bookrunner: Eddid Securities USA
|
Riku Dining Group
RIKU
|
Restaurant · Canada + HK
|
|
Size / Price
$25M · 5M shares @ $4–$6
|
Concepts
Ajisen Ramen (Ontario)
Yakiniku + café (Hong Kong)
|
Structure
Runs + franchises
Dual-market footprint
|
Japanese-concept restaurant operator with locations in Canada and Hong Kong — targeting $25 million with 5 million shares at $4–$6. Runs and franchises Ajisen Ramen in Ontario plus several yakiniku and café concepts in Hong Kong.
Small restaurant IPOs are always high-risk, but the dual-market footprint and Japanese-food popularity give it a clear niche story.
Nasdaq · 6.3M Shares · Hong Kong-Based · Eddid Securities USA
|
Web3Labs Global
MDAT
|
Web3 / Blockchain
|
|
Size / Price
~$28.1M · 6.3M @ $4–$5
|
Services
Consulting · Incubation
Blockchain startup support
|
HQ
Hong Kong
Public chain relationships
|
Hong Kong-based Web3 services and incubation firm looking to raise about $28.1 million. Provides consulting, incubation, and operational support to blockchain startups with relationships across several public chains.
Pure-play bet on the next phase of Web3 infrastructure in Asia — interesting only for those already comfortable with the sector's volatility.
NYSE American · 2.6M Shares · Sole UW: Eddid Securities USA
|
BW Industrial Holdings
BWGC
|
Industrial / EPC
|
|
Size / Price
~$17.1M · 2.6M @ $6–$7
|
Clients / Focus
Semiconductor · Battery
Renewable · Advanced Mfg.
|
HQ
Houston, Texas
EPC / Process systems
|
Houston-based engineering, procurement, and construction firm targeting about $17.1 million. Builds critical process systems for semiconductor, battery, renewable, and advanced manufacturing clients.
Pure-play industrial services at a modest size — interesting if the onshoring and data-center construction theme stays alive, but higher-risk given the small raise and project-based revenue.
Nasdaq Uplisting from SGX Catalist · 3M ADS · Roth Capital + Benchmark
|
MetaOptics
MOT
|
Metalens / Optics
|
|
Size / ADS
~$18M · 3M ADS @ $5–$7
|
Technology
Ultra-thin flat metalenses
Cameras · AR/VR · Devices
|
Already Listed On
SGX Catalist (Singapore)
Uplisting to Nasdaq
|
This is an uplisting rather than a pure IPO. The Singapore-based metalens company (already listed on the Catalist) is offering 3 million ADSs at $5–$7. Roth Capital Partners and The Benchmark Company are underwriting.
Metalenses are ultra-thin flat optics that can replace traditional curved lenses in cameras, AR/VR, and other devices. The dual listing gives U.S. investors easier access to a small but differentiated optics technology play.
That's the full non-SPAC traditional lineup for the week. Four smaller, higher-risk names and no large deals. Terms can still shift, so keep an eye on final pricing. Keep an eye out for updates.
"Have a good week."
Tim
IPO Stream
