Colossal IPO Week on Tap: DiDi Global highlights massive capital raises

 

There is currently 17 (!) IPOs on the schedule to come to market ahead of the Fourth of July holiday break with massive capital raises on deck. None will be larger than the “Uber of China”, DiDi Global Inc (DIDI), who will be looking to price 288mm ADSs at $13-$14 and debut on Wednesday (6/30).

It’s a week with something for everyone: E-Commerce, Biotech, Med Devices and Software.

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Tuesday (6/29) Debut

• Dingdong (Cayman) Limited (DDL) — They are a leading and the fastest growing on-demand e-commerce company in China, according to China Insights Consultancy, or CIC. The company is seeking a market cap of $5.8b-$6.3b based on the $23.50-$25.50 range.

Wednesday (6/30) Debut

• Aerovate Therapeutics Inc (AVTE) —  They are a clinical stage biopharmaceutical company focused on developing drugs that meaningfully improve the lives of patients with rare cardiopulmonary disease. The company is seeking a market cap of $281m-$324m based on the $13-$15 range.
• Clear Secure Inc (YOU) —They have built an extensive physical footprint with a nationwide network of airports, stadiums and businesses to offer members frictionless, trusted experiences as they move and transact throughout the day in both physical and digital environments. The company is seeking a market cap of $3.9b-$4.35b based on the $27-$30 range.
• CVRx Inc (CVRX) —They are a commercial-stage medical device company focused on developing, manufacturing and commercializing innovative and minimally invasive neuromodulation solutions for patients with cardiovascular diseases.
• DiDi Global Inc (DIDI) — They are the world’s largest mobility technology platform. They are the go-to brand in China for shared mobility, providing consumers with a comprehensive range of safe, affordable and convenient mobility services, including ride hailing, taxi hailing, chauffeur, hitch and other forms of shared mobility. The company is seeking a market cap of $56.2b-$60.6b based on the $13-$14 range.
• Integral Ad Science Holding Corp. (IAS) —IAS is a leading digital advertising verification company by revenue. The company is seeking a market cap of $2.2b-$2.5b based on the $15-$17 range.
• Intapp Inc (INTA) —Intapp is a leading provider of industry-specific, cloud-based software solutions for the professional and financial services industry globally. The company is seeking a market cap of $1.5b-$1.65b based on the $25-$28 range.
• SentinelOne Inc (S) — They pioneered the world’s first purpose-built AI-powered extended detection and response, or XDR, platform to make cybersecurity defense truly autonomous, from the endpoint and beyond. The company is seeking a market cap of $6.6b-$7.4b based on the $26-$29 range.
• LegalZoom(.)Com Inc (LZ) —  LegalZoom is a leading online platform for legal and compliance solutions in the United States. In 2020, 10% of new limited liability companies, or LLCs, and 5% of new corporations in the United States were formed via LegalZoom. The company is seeking a market cap of $4.7b-$5.7b based on the $24-$27 range.
• Xometry Inc (XMTR) —They are a leading AI-enabled marketplace for on-demand manufacturing, transforming one of the largest industries in the world. The company is seeking a market cap of $1.6b-$1.8b based on the $38-$42 range.

Thursday (7/1) Debut

• Acumen Pharmaceuticals Inc (ABOS) —  They are a clinical-stage biopharmaceutical company developing a novel disease-modifying approach to target what they believe to be a key underlying cause of Alzheimer’s disease, or AD. The company is seeking a market cap of $517m-$592m based on the $14-$16 range.
• Atour Lifestyle Holdings Limited (ATAT) —  They are the largest upper midscale hotel chain in China in terms of room number as of the end of 2020, according to Frost & Sullivan. The company is seeking a market cap of $2.0b-$2.25b based on the $13.50-$15.50.
• D-MARKET Electronic Services & Trading (HEPS) — They are a leading commerce platform in Turkey and, in 2020, they connected 33 million members, 9 million Active Customers and a fast growing base of approximately 45 thousand Active Merchants. The company is seeking a market cap of $3.6b-$4.25b based on the $11-$13 range.
• EverCommerce Inc (EVCM) – They are a leading provider of integrated, vertically-tailored software-as-a-service (SaaS) solutions for service-based small- and medium-sized businesses, or service SMBs. The company is seeking a market cap of $3.1b-$3.5b based on the $16-$18 range.
• Krispy Kreme Inc (DNUT) —  Krispy Kreme is one of the most beloved and well-known sweet treat brands in the world. The company is seeking a market cap of $3.4b-$3.9b based on the $21-$24 range.
• NYXOAH SA (NYXH) —   They are a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea, or OSA. The company is seeking a market cap of $768m-$768m.
• Torrid Holdings Inc (CURV) —   Torrid is the largest direct-to-consumer brand of women’s plus-size apparel and intimates in North America by net sales. The company is seeking a market cap of $2.0b-$2.3b based on the $18-$21 range.

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