It was another extremely active week on the syndicate market as nine deals came to market with mostly success.
Healthcare and biotech was in the “spotlight” and deals in these sectors did not disappoint.
GoodRx Holdings, Inc. (GDRX) priced a full-size deal, 34.6mm shares, at $33.00 ($5.00 above the range) and opened at $46.00 for a gain of 39.4% at first trade. GDRX traded to a first day high of $51.78 and hung “close to 50” most of its opening week.
PMV Pharmaceuticals, Inc (PMVP) priced 11.765mm shares at $18.00 (high-end of the range) and opened at $35.00 for a gain of 94.4% at first trade.
Prelude Therapeutics Incorporated (PRLD) priced a full-size deal, 8.325mm shares, at the high-end of the range, $19.00, and opened at $25.23 for a gain of 32.8% at first trade.
Taysha Gene Therapies, Inc. (TSHA) priced 7.9mm shares (upsized from 6.6mm) at $20.00 (high-end of range) and opened at $22.25 for a gain of 11.3% at first trade. TSHA traded well in its first two sessions and hit a high of $27.53 for a gain of 38% at its highest print.
Graybug Vision, Inc. (GRAY) priced 5.625mm shares (upsized from 4.7mm) at $16.00 (midpoint of the range) and opened at $19.00 for a gain of 18.8% at first trade.
Bentley Systems Inc (BSY) priced a full-size deal, 10.75mm shares, at $22.00 ($1.00 above the upwardly-revised range) and opened at $28.00 for a gain of 27.3% at first trade. BSY had buyers throughout its opening week as the stock closed its first session (Wednesday) at $33.49 and held north of 30 in both the Thursday and Friday sessions.
Laird Superfood, Inc. (LSF) priced 2.65mm shares at $22.00 (high-end of upwardly-revised range) and opened at $33.55 for a gain of 52.5% at first trade. LSF traded extremely strong and closed the week at an even $45.00 for more than a 100% gain as a publicly traded company.
Corsair Gaming, Inc. (CRSR) priced a full-size deal, 14.0mm shares, at the midpoint of the range, $17.00, and opened at $15.12 for a loss of 11.1% at first trade. CRSR caught a bid on its third trading day, Friday, and rallied through the IPO price and north of $18.
VIA optronics AG (VIAO) priced a full-size deal, 6.25mm ADSs, at the low-end of the range, $15.00, and opened at $12.00 for a loss of 20% at first trade. This offering was backed by a German underwriter, Berenberg.
Two IPOs that were anticipated to come to market this week did not for differing reasons. .
Orphazyme A/S (ORPH), which has its stock also trade on the Nasdaq Copenhage, released positive news about its product candidate Friday morning and is now tracking a Monday pricing for a Tuesday (9/29) trade date.
Hygo Energy Transition Ltd. (HYGO) — According to underwriter guidance, this offering has been postponed. There is no further information at this time.
Looking ahead to this week, there are eight IPOs on the schedule:
Debuting Tuesday (9/29)
Boqii Holding Limited (BQ) — They are the largest pet-focused platform in China, in terms of revenue in 2019 and number of customers as of December 31, 2019, according to Frost & Sullivan.
Orphazyme A/S (ORPH) — They are a late-stage biopharmaceutical company harnessing the amplification of Heat Shock Proteins, or HSPs, in order to develop and commercialize novel therapeutics for the treatment of neurodegenerative orphan diseases.
Debuting Wednesday (9/30)
Chindata Group Holdings Limited (CD) — They are the leading carrier-neutral hyperscale data center solution provider in Asia-Pacific emerging markets, focusing on the China, India and Southeast Asia markets.
Lixiang Education Holding Co., Ltd. (LXEH) — They are a prominent private primary and secondary education service provider in Lishui City, Zhejiang Province.
Yalla Group Limited (YALA) — They are the largest voice-centric social networking and entertainment platform in MENA (Middle East & North Africa) as measured by revenue in 2019, according to the Frost & Sullivan Report.
Debuting Thursday (10/1)
Mission Produce, Inc. (AVO) — They are a world leader in sourcing, producing and distributing fresh avocados, serving retail, wholesale and foodservice customers in over 25 countries.
Pulmonx Corporation (LUNG) — They are a commercial-stage medical technology company that provides a minimally invasive treatment for patients with severe emphysema, a form of chronic obstructive pulmonary disease (COPD).
Debuting Friday (10/2)
Academy Sports and Outdoors, Inc. (ASO) — They are one of the leading full-line sporting goods and outdoor recreation retailers in the United States.
Immunome Inc. (INMN) — They are a biopharmaceutical company utilizing their proprietary human memory B cell platform to discover and develop first-in-class antibody therapeutics designed to change the way diseases are currently being treated.
In addition, there are two companies debuting via a direct listing. Palantir Technologies (PLTR) & Asana Inc (ASAN) are both tentatively scheduled to debut on 9/30. Because these companies are going public through the direct listing route, we will not be providing coverage on their company leading up to the debut.
For IPO Boutique Research, Ratings and Commentary on all traditional IPO offerings (not direct listings), try us out: http://www.ipoboutique.com/blog/register/
IPO Boutique: Indicate with Confidence.
English
Arabic
Chinese (Simplified)
Dutch
French
German
Italian
Portuguese
Russian
Spanish