Bankers wasted no time painting the post-Labor Day syndicate picture. Seven IPOs launched on Tuesday and another four followed on Wednesday morning. The biggest cash raise of the group, Snowflake Inc, is scheduled to price 28.0mm shares at a wide $75-$85 range.
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IPO Boutique: Indicate with Confidence.
Company: Sumo Logic, Inc.
Symbol: SUMO
Description: Sumo Logic is the pioneer of Continuous Intelligence, a new category of software, which enables organizations of all sizes to address the challenges and opportunities presented by digital transformation, modern applications, and cloud computing.
Shares: 14.8 million
Price Range: $17.00-$21.00
Market Cap: $1.68b-$2.07b
Trade Date: Thursday, 9/17
Underwriter(s): Morgan Stanley, JP Morgan, RBC Capital Markets, Jefferies
Co-Manager(s): William Blair, Cowen, Piper Sandler, BTIG
Filed: 8-24-20
Terms Added: 9-8-20
Company: Pactiv Evergreen Inc
Symbol: PTVE
Description: They are the largest manufacturer and distributor of fresh foodservice and food merchandising products and fresh beverage cartons in North America (as measured by revenue).
Shares: 41.0 million
Price Range: $18.00-$21.00
Market Cap:$3.16b-$3.68b
Trade Date: Thursday, 9/17
Underwriter(s): Credit Suisse, Citigroup, BofA Securities, Goldman Sachs
Co Managers: Baird, BMO Capital, Deutsche Bank, RBC Capital, HSBC, Academy Securities, Loop Capital, Rabo Securities, Ramirez & Co., Siebert Williams Shank
Filed: 8-24-20
Terms Added: 9-8-20
Company: Snowflake Inc.
Symbol: SNOW
Description: They believe in a data connected world where organizations have seamless access to explore, share, and unlock the value of data. To realize this vision, they are pioneering the Data Cloud, an ecosystem where Snowflake customers, partners, and data providers can break down data silos and derive value from rapidly growing data sets in secure, governed, and compliant ways.
Shares: 28 million
Price Range: $75.00-$85.00
Trade Date: Wednesday, 9/16
Market Cap: $20.9bn-$$23.7bn
Underwriter(s): Goldman Sachs, Morgan Stanley, JP Morgan, Allen & Co., Citigroup, Credit Suisse, Barclays, Deutsche Bank, Mizuho Securities, Trust Securities
Co-Manager(s): BTIG, Canaccord Genuity, Capital One Securities, Cowen, DA Davidson, JMP Securities, Oppenheimer, Piper Sandler, Stifel, Academy Securities, Loop Capital, Ramirez & Co., Siebert Williams Shank
Terms Added: 9-8-20
Company: Vitru Limited
Symbol: VTRU
Description: They are the leading pure distance learning education group in the postsecondary digital education market in Brazil.
Shares: 11,230,126 million
Price Range: $22.00-$24.00
Market Cap: $507m-$553m
Trade Date: Thursday, 9/17
Underwriter(s): Goldman Sachs, BofA Securities, Itau BBA, Morgan Stanley, Bradesco BBI, BTG Pactual, Credit Suisse, Santander, XP Investimentos
Filed: 8-24-20
Terms Added: 9-8-20
Company: JFrog Ltd.
Symbol: FROG
Description: They provide an end-to-end, hybrid, universal DevOps Platform to achieve Continuous Software Release Management, or CSRM.
Shares: 11,568,218 million
Market Cap: $2.93b-$3.28b
Trade Date: Wednesday, 9/16
Underwriter(s): Morgan Stanley, J.P. Morgan, BofA Securities
Co-Manager(s): Keybanc Capital Markets, Piper Sandler, Stifel, William Blair, Oppenheimer & Co., Needham & Company
Filed: 8-24-20
Terms Added 9-8-20
Company: Broadstone Net Lease Inc.
Symbol: BNL
Description: They are an internally-managed REIT that acquires, owns, and manages primarily single-tenant commercial real estate properties that are net leased on a long-term basis to a diversified group of tenants.
Shares: 33.5 million
Price Range: $17.00-$19.00
Market Cap: $2.4b-$2.7b
Trade Date: Thursday, 9/17
Underwriter(s): J.P. Morgan, Goldman Sachs, BMO Capital Markets, Morgan Stanley, Capital One Securities, Truist Securities
Co-Manager(s): Regions Securities, BTIG, KeyBanc Capital Markets Ramirez & Co., Inc.
Terms Added: 9-8-20
Company: American Well Corporation
Symbol: AMWL
Description: They are a leading telehealth company enabling digital delivery of care for healthcare’s key stakeholders.
Shares: 35 million
Price Range: $14.00-$16.00
Market Cap: $3.08b-$3.52b
Trade Date: Thursday 9/17
Underwriter(s): Morgan Stanley, Goldman Sachs, Piper Sandler, UBS Investment Bank, Credit Suisse, Cowen, Berenberg
Filed: 9-8-20
Company: Metacrine, Inc.
Symbol: MTCR
Description: They are a clinical-stage biopharmaceutical company focused on discovering and developing differentiated therapies for patients with liver and gastrointestinal, or GI, diseases.
Shares: 6.54 million
Price Range: $12.00-$14.00
Market Cap: $311m-$363m
Trade Date: Wednesday, 9/16
Underwriter(s): Jefferies, Evercore ISI, RBC Capital Markets
Co-Manager(s): Canaccord Genuity
Terms Added: 9-9-20
Company: Unity Software, Inc.
Symbol: U
Description: They are the world’s leading platform for creating and operating interactive, real-time 3D content.
Shares: 25 million
Price Range: $34.00-$42.00
Market Cap: $9.0b-$11.1b
Trade Date: Friday, 9/18
Underwriter(s): Goldman Sachs, Credit Suisse, BofA Securities, Barclays, William Blair
Co-Manager(s): Oppenheimer, Piper Sandler, Stifel, Wedbush Securities, Academy Securities, Siebert Williams Shank
Terms Added: 9-9-20
Company: Outset Medical, Inc.
Symbol: OM
Description: They are a rapidly growing medical technology company pioneering a first-of-its-kind technology to reduce the cost and complexity of dialysis.
Shares: 7.6 million
Price Range: $22.00-$24.00
Market Cap: $871m-$950m
Trade Date: Wednesday 9/16
Underwriter(s): BofA Securities, Morgan Stanley, Goldman Sachs, SVB Leerink, Stifel
Terms Added: 9-9-20
Company: StepStone Group Inc.
Symbol: STEP
Description: They are a global private markets investment firm focused on providing customized investment solutions and advisory and data services to our clients.
Shares: 17.5 million
Price Range: $15.00-$17.00
Trade Date: Wednesday, 9/16
Market Cap: $1.4b-$1.6b
Underwriter(s): J.P. Morgan, Goldman Sachs, Morgan Stanley, Barclays, UBS Investment Bank
Terms Added: 9-9-20
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