This week six IPOs debuted, five IPOs updated terms for next week’s calendar and a total of thirteen new IPOs filed.
High level of IPO activity carried into the first full-week of Q4 and that is to be anticipated all the way through Thanksgiving. At the least, all six offerings that came to market this week yielded positive results at first trade.
Kronos Bio Inc (KRON) priced 13.2mm shares at $19.00 ($1.00 above the range) and opened at $28.50 for a gain of 50.0% at first trade. After retreating to the $25.50 level in the first 30-minutes of trading, KRON rallied back to its session highs. IPO Boutique rated this deal as a ‘4’ rated offering and considered it the “strongest” of the week.
Shattuck Labs, Inc. (STTK) priced 11.9mm shares (upsized from 10.0mm) at $17.00 ($1.00 above the range) and opened at $22.10 for a gain of 30.0% at first trade. STTK was met with immediate selling pressure and traded as low as $17.51 in its opening session which was only marginally above the issue price. IPO Boutique rated this deal a ‘4’ rated deal.
Spruce Biosciences, Inc. (SPRB) priced 6.0mm shares (upsized from 5.0mm) at the midpoint of the range, $15.00, and opened at $18.14 for a gain of 20.9% at first trade. IPO Boutique rated this offering a ‘3’.
Aziyo Biologics Inc (AZYO) priced a full-size deal, 2.94mm shares, at the midpoint of the range, $17.00, and opened at $17.32 for a gain of 1.9% at first trade. AZYO traded poorly in its first session and its first calendar week as a publicly traded company. AZYO closed day one at $14.50 or 14.7% below issue and proceeded to trade below $14.00 during Friday’s session. IPO Boutique rated this offering a ‘3’ and our clients knew we were “cautious” on this deal.
fuboTV Inc (FUBO) priced 18.3mm shares (upsized from 15.0mm) at the midpoint of the range, $10.00, and opened at $11.00 for a gain of 10.0% at first trade. FUBO caught a bid out of the gate and hit a high of $12.00 before retreating back to the issue price. FUBO closed its opening session at $10.15. IPO Boutique rated this offering a ‘3’. IPO Boutique clients had information to “temper expectations” as this company had previously been trading on the OTC-Pink Sheet.
The lone Chinese offering turned out to be the best “trader” out of the bunch. iHuman Inc. (IH) priced a full-size deal, 7.0mm ADSs, at the midpoint of the range, $12.00, and opened at $12.12 for a gain of 1.0% at first trade. IH had consistent buying over the first 45 minutes and saw its stock hit $16.24 or +35.3% versus the IPO price.
Looking ahead to this week, there are five IPOs on the schedule:
Debuting Wednesday (10/14)
Codiak BioSciences, Inc. (CDAK) — They are a development-stage biopharmaceutical company focused on pioneering the development of exosome-based therapeutics, a new class of medicines with the potential to transform the treatment of a wide spectrum of diseases with high unmet medical need.
Debuting Thursday (10/15)
Array Technologies, Inc. (ARRY) — They are one of the world’s largest manufacturers of ground-mounting systems used in solar energy projects.
MINISO Group Holding Limited (MNSO) — They are a fast-growing global value retailer offering a variety of design-led lifestyle products.
Spinal Elements Holdings, Inc.(SPEL) — They are a medical device company focused on the design, development and commercialization of a comprehensive portfolio of systems, products and technologies for spine surgery procedures, with a strategic focus on minimally invasive surgery (“MIS”) procedures.
Debuting Friday (10/16)
Praxis Precision Medicines, Inc.(PRAX) — They are a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system, or CNS, disorders characterized by neuronal imbalance.
English
Arabic
Chinese (Simplified)
Dutch
French
German
Italian
Portuguese
Russian
Spanish