Cullinan, Gracell Pop to Start 2021; Seven Deal Week on Tap Ahead

This week two IPOs debuted. There were 7 IPOs that updated terms and at the time of this writing, there were 7 new IPOs that filed.

It was a strong start to the 2021 IPO calendar year with two deals coming to market with strong performance at first trade.

Cullinan Management (CGEM) priced 11.9mm shares (upsized from 10.0mm) at $21.00 ($1.00 above the upwardly-revised range) and opened at $42.00 for a gain of 100% at first trade. CGEM traded poorly in its opening session and closed Friday at $29.91 or nearly 30% below its opening print.

Gracell Biotechnologies Inc. (GRCL) priced 11.0mm ADSs at $19.00 ($1.00 above the range) and opened at $26.00 for a gain of 36.8% at first trade.

Looking ahead to this week, there are seven deals currently on the schedule

Debuting Wednesday 1/13

Affirm Holdings Inc (AFRM) —  They are building the next generation platform for digital and mobile-first commerce.

Motorsport Gaming US LLC (MSGM) — Motorsport Games is a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world, including NASCAR, the iconic 24 Hours of Le Mans endurance race (“Le Mans”) and the associated FIA World Endurance Championship (the “WEC”), the British Touring Car Championship.

Debuting Thursday 1/14

Petco Health and Wellness Company, Inc (WOOF) — They are a purpose-driven company dedicated to improving the lives of pets, their parents, and the partners who work for them.

Poshmark Inc (POSH) —  They are a social marketplace that combines the human connection of a physical shopping experience with the scale, reach, ease, and selection benefits of eCommerce.

Debuting Friday 1/15

Driven Brands Holdings Inc (DRVN) — Driven Brands is the largest automotive services company in North America with a growing and highly-franchised base of more than 4,100 locations across 49 U.S. states and 14 international countries.

Kuke Music Holding Limited (KUKE) — They are a leading provider of classical music licensing, subscription and education services in China.

Playtika Holding Corp (PLTK) —  They are one of the world’s leading developers of mobile games creating fun, innovative experiences that entertain and engage their users.