Five deals are on the calendar to debut this week from various sectors and regionalities all over the globe.
The largest cash raise honors goes to Chinese electric vehicle (EV) company, Li Auto Inc (LI), which is seeking $855m if the deal prices at the midpoint of the $8-$10 range. Traders are “tossing around” the low-hanging fruit of Tesla Inc (TSLA) comparisons already with this company. According to Page 94 of the prospectus:
We began generating revenues in December 2019, when we began making deliveries of Li ONEs. We recorded RMB841.1 million (US$118.8 million) of vehicle sales revenues and RMB10.6 million (US$1.5 million) of other sales and services revenues for the three months ended March 31, 2020.
Li Auto is scheduled for a Friday Thursday debut. IPO Boutique subscribers have color and commentary on how demand and what the “large investors” think of this deal.
Also tapping US equity markets from abroad on Friday is Vasta Platform Limited (VSTA) — a high-growth education company in Brazil powered by technology, providing end-to-end educational and digital solutions that cater to all needs of private schools operating in the K-12 educational segment, ultimately benefiting all of our stakeholders, including students, parents, educators, administrators and private school owners.
A “food” IPO is set for Friday as well with Vital Farms Inc (VITL), an ethical food company that is disrupting the U.S. food system, set for a debut this week. It’s a true ‘American Dream’ story with founder Matthew O’Hayer and his wife, Catherine Stewart, having founded Vital Farms in 2007 on a 27-acre plot of land in Austin, Texas. Armed with a small flock of hens, they maintained a strong belief that a varied diet and better animal welfare practices would lead to superior eggs.
Their first sales were at an Austin farmers market!
Other deals this week include domestic software tax company, Vertex Inc (VERX), which is set for a potential $300m+ cash raise as well as Phase 3 gene therapy company, AlloVir (ALVR), which is scheduled for a Thursday debut.
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