01.25.21-01.29.21 IPO Summary: IPOs Break amongst market volatility

The headline for the financial markets this past week revolved around the ‘mania-stocks’… but the IPO felt the reverberations. In a week that had eight deals scheduled to debut, only two offerings opened above their issue price.  Prior to this week, the IPO market had a perfect track record of positive debuts.

The most heavily subscribed deals (and one’s we rated as a ‘4’ out of ‘5’ rating) both outperformed.

Qualtrics International Inc (XM) priced 50.4mm shares at $30.00 ($1 Above the upwardly-revised $27-$29 range) and opened at $41.85 for a gain of 39.5%.  XM hit a high of $48.31 in its second session before closing the week at $44.00 — squarely ahead of its opening print.

Shoals Technology Group Inc (SHLS) priced 77.0mm shares (upsized from 70.0mm) at $25.00 ($2 above the upwardly-revised range) and opened at $31.30 for a gain of 25.2% at first trade. SHLS traded higher in its opening week and closed Friday’s session at $33.93.

There ended up being five deals that opened at or below their respective issue prices and one that was postponed.

Ortho Clinical Diagnostics Holdings plc (OCDX) priced 76.0mm shares (upsized from 70.0mm) at $17.00 ($3.00 below the prevailing $20-$23 range) and opened at $15.50 for a loss of 8.82%

Vinci Partners Investments Ltd (VINP) priced 13.9mm shares at $18.00  and opened at $17.70 for a loss of 1.7% at first trade.

ZIM Integrated Shipping Services Ltd (ZIM) priced 14.5mm shares (downsized from 17.5mm) at $15.00 ($1.00 below range) and opened at $11.50 for a loss of 23.3%. 

Home Point Capital Inc (HMPT) priced 7.25mm shares (downsized from 12.5mm) at $13.00 ($6 below the $19-$21 range) and opened at $9.60 for a loss of 26.1% at first trade.

Trinity Capital Inc (TRIN) priced 7.375mm shares at $14.00 (lower-half of range) and opened at $14.00. 

Looking ahead to this week, there are currently seven IPOs scheduled to debut this week, however, we are hearing as many as seven biotech IPOs could launch and debut next week.

Wednesday (2/3) Debut

• On24 Inc.(ONTF) — They provide a leading, cloud-based digital experience platform that enables businesses to convert customer engagement into revenue through interactive webinar experiences, virtual event experiences and multimedia content experiences.
• Telus International (Cda), Inc. (TIXT) — They are a leading digital customer experience innovator that designs, builds and delivers next-generation solutions for global and disruptive brands.

Thursday (2/4) Debut

• Atotech Limited (ATC) — They are the leading global provider of specialty electroplating solutions delivering chemistry, equipment, and service for high-growth technology applications.
• Evaxion Biotech A/S (EVAX) —  They are a clinical-stage AI-immunology™ platform company using their proprietary artificial intelligence, or AI, technology, engineering expertise and drug development know-how to simulate the human immune system and generate predictive models to identify and develop novel immunotherapies for the treatment of various cancers, bacterial diseases and viral infections.
• Loan Depot Inc. (LDI)  —   LoanDepot is a leading technology-enabled U.S. consumer lending platform.
• Landos Biopharma Inc. (LABP) —  They are a clinical-stage biopharmaceutical company focused on the discovery and development of oral therapeutics for patients with autoimmune diseases that are the first to target new mechanisms of action, including the LANCL2, NLRX1 and PLXDC2 immunometabolic pathways.according to the CIC report.
• Sana Biotechnology Inc. (SANA) — They have long-term aspirations to be able to control or modify any gene in the body, to replace any cell that is damaged or missing, and to markedly improve access to cellular and gene-based medicines.

Indicating for IPOs or Secondary offerings? Place IPO Boutique on your team.

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