DECEMBER PIPELINE: Hashicorp, Nu Holdings among end of year IPOs

The IPO  market is looking for one final push to end the 2021 calendar year.

In terms of volume and cash raised, it has been a year that has surpassed recent year-totals.  Through November there have been 324 IPOs (non-SPAC, cash-raise greater than $20m) for a grand total of $133.8b.  For reference, those numbers top the 2020 statistics of 189 IPOs for $76.8b.

So, what’s left?

The pipeline is full but that does not mean that all deals will come before end of year. Many of the offerings that have officially filed will “likely” delay an offering until 2022.

But what we know will come are a pair of highly-anticipated IPOs including Buffett-backed digital bank, Nu Holdings (NU) and cloud-company Hashicorp Inc (HCP). Other potential IPOs to launch prior to year-end include Chobani Inc, Coforge Limited, SambaTV and Gerson Lehrman Group Inc.

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Company: Nu Holdings Ltd.
Symbol: NU (NYSE)
Description: They believe Nu is one of the world’s largest digital banking platforms (based on number of customers), and one of the leading technology companies in the world, with 48.1 million customers across Brazil, Mexico and Colombia as of September 30, 2021.
Shares: 289.2 million ADSs
Price Range: $8.00-$9.00
Market Cap: $36.9b-$41.5b
Trade Date: Thursday, 12/9
Underwriters: Morgan Stanley, Goldman Sachs, Citigroup, NuInvest, Allen & Co., HSBC, UBS Investment Bank
Co-Manager(s): Autonomous, KeyBanc Capital, Nau Securities, Nomura, Numis, Susquehanna Financial
Link to Prospectus: Terms Added: 11-1-21

Company: HashiCorp, Inc.
Symbol: HCP (Nasdaq)
Description: Their foundational technologies solve the core infrastructure challenges of cloud adoption by enabling an operating model that unlocks the full potential of modern public and private clouds.
Shares: 15.3 million
Price Range: $68.00-$72.00
Market Cap: $12.2b-$12.9b
Trade Date: Thursday, 12/9
Underwriters: Morgan Stanley, Goldman Sachs, J.P. Morgan, BofA Securities, Citigroup
Co-Manager(s): Cowen, JMP Securities, KeyBanc Capital, Nomura, Oppenheimer, Stifel, William Blair, Blaylock Van LLC, R. Seelaus & Co.
Link to Prospectus: Terms Added: 11-29-21