It was another week of aggressive pricings and strong IPO performance at first trade with all five deals opening at least 15% above the issue price or higher. Four of the five deals this week priced above range.
Vital Farms, Inc (VITL) priced 9.3mm shares (upsized from 7.8mm) at $22.00 ($1.00 above the upwardly-revised range) and opened at $35.00 for a gain of 59.1% at first trade.
Vertex, Inc. has priced a full sized deal at $19.00 ($3.00 above the high-end of the original range) and opened at $25.56 for a gain of 34.5%. Vertex traded lower in its opening week and closed Friday’s session at $23.56.
Li Auto Inc (LI) priced a full-size deal, 95.0mm ADSs, at $11.50 ($1.50 above range) and opened at $15.50 for a gain of 34.8%. LI traded as high as $17.50 in its opening session.
Vasta Platform Limited (VSTA) priced 18.6mm shares at $19.00 ($1.50 above the range) and opened at $22.10 for a gain of 16.3% at first trade. The deal was met with immediate selling pressure and broke the offering price within ten minutes.
AlloVir, Inc. (ALVR), the only biotech offering of the week, priced 16.25 million shares (upsized from 14.75mm) at the midpoint of the range, $17.00, and opened at $20.00 for a gain of 17.6% at first trade. ALVR traded remarkably well in its opening session and printed $29.84 for a gain of 75.5% at top-tick. ALVR closed Friday at $24.90 marking a 46.4% gain in its opening week versus the IPO price.
Looking ahead to this week, there are six IPOs currently on the calendar .
Acutus Medical Inc (AFIB) — They are an arrhythmia management company focused on improving the way cardiac arrhythmias are diagnosed and treated.
BigCommerce Inc (BIGC) — BigCommerce is leading a new era of ecommerce. Their software-as-a-service platform simplifies the creation of beautiful, engaging online stores by delivering a unique combination of ease-of-use, enterprise functionality, and flexibility.
IBEX Holdings Limited (IBEX) — They are a leading global customer experience company delivering solutions to help the world’s preeminent brands more effectively engage with their customers.
Oak Street Health Inc. (OSH) — Their mission has been to build a primary care delivery platform that directly addresses rising costs and poor outcomes, two of the most pressing challenges facing the United States healthcare industry.
Rackspace Technologies Inc (RXT) — They are a leading end-to-end multi-cloud technology services company.
Rocket Companies Inc (RKT) — They are a Detroit-based company obsessed with helping their clients achieve the American dream of home ownership and financial freedom.
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