Nine Deal Week Ahead as IPO Market Presses On

After a week where just two of six IPOs opened with a premium, the IPO market presses ahead with nine offerings set to debut this week. Additionally, a handful of companies have already set terms for a debut for the week of 3/22.

As we stated last week, the IPO pipeline has been replenished with March and April anticipated to be extremely robust syndicate months

Wednesday (3/17) Debut

• Olo Inc (OLO) — Olo provides a leading cloud-based, on-demand commerce platform for multi-location restaurant brands.
• Sun Country Airlines Holdings Inc (SNCY) — Sun Country Airlines is a new breed of hybrid low-cost air carrier that dynamically deploys shared resources across our synergistic scheduled service, charter and cargo businesses.

Thursday (3/18) Debut

• Gain Therapeutics Inc (GANX) — They are a development stage biotechnology company developing novel therapeutics to treat diseases caused by protein misfolding, with an initial focus on lysosomal storage disorders (“LSDs”), including rare genetic diseases and neurological disorders.
• The Duckhorn Portfolio Inc (NAPA) — They are the premier scaled producer of luxury wines in North America.
• Tuya Inc (TUYA) –They have pioneered a purpose-built IoT cloud platform that delivers a full suite of offerings, including Platform-as-a-Service, or PaaS, and Software-as-a-Service, or SaaS, to businesses and developers.
• Vine Energy Inc (VEI) — They are an energy company focused on the development of natural gas properties in the stacked Haynesville and Mid-Bossier shale plays in the Haynesville Basin of Northwest Louisiana.

Friday (3/19) Debut

• Connect Biopharma Holdings Limited (CNTB) — They are a global clinical-stage biopharmaceutical company developing therapies for the treatment of T cell-driven inflammatory diseases.
  
• Finch Therapeutics Group Inc (FNCH) — They are a clinical-stage microbiome therapeutics company leveraging our Human-First Discovery platform to develop a novel class of orally administered biological drugs
  
• Instil Bio Inc (TIL) — They are a clinical-stage biopharmaceutical company focused on developing an innovative cell therapy pipeline of autologous tumor infiltrating lymphocyte, or TIL, therapies for the treatment of patients with cancer.
  

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Launches for Week of 3/22:

Company: ACV Auctions Inc.
Symbol: ACVA
Shares: 16.5 million
Price Range: $18.00-$20.00
Market Cap: $2.5b-$2.75b
Trade Date: Wednesday, 3/24
Description: They provide a vibrant digital marketplace for wholesale vehicle transactions and data services that offer transparent and accurate vehicle information to their customers.
Underwriter(s): Goldman Sachs, JP Morgan, Citigroup, BofA Securities, Jefferies
Co-Manager(s): Canaccord Genuity, Guggenheim Securities, JMP Securities, Piper Sandler, Terms Added: 3-15-21

Company: Leonardo DRS, Inc.
Symbol: DRS
Shares: 31.9 million
Price Range: $20.00-$22.00
Market Cap: $2.9b-$3.2b
Trade Date: Wednesday, 3/24
Description: DRS is a leading provider of defense products and technologies that are used across land, air, sea, space and cyber domains.
Underwriter(s): Goldman Sachs, BofA Securities, JP Morgan, Barclays, Citigroup, Credit Suisse, Morgan Stanley
Co-Manager(s): Credit Agricole CIB, IMI Intesa Sanpaolo, MUFG, UniCredit Capital Markets
Terms Added: 3-15-21

Company: DigitalOcean Holdings, Inc.
Symbol: DOCN
Shares: 16.5 million
Price Range: $44.00-$47.00
Market Cap: $4.6b-$4.95b
Trade Date: Wednesday, 3/24
Description: DigitalOcean is a leading cloud computing platform offering on-demand infrastructure and platform tools for developers, start-ups and small and medium-sized businesses, or SMBs.
Underwriter(s): Morgan Stanley, Goldman Sachs, JP Morgan, BofA Securities, Barclays, KeyBanc Capital
Co-Manager(s): Canaccord Genuity, JMP Securities, Stifel
Terms Added: 3-15-21

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