Two IPOs debuted this week and both opened well in the black and traded very well.
Oatly Group AB (OTLY) priced a full-size deal, 84.4mm shares, at the high-end of the range, $17.00, and opened at $22.12 for a gain of 30.1% at first trade. The Oprah Winfrey-backed company traded as high as $23.25 and closed the week at $22.46.
Procore Technologies Inc (PCOR) priced a full-size deal, 9.47mm shares, at $67.00 ($2 Above the Prevailing $60-$65 range) and opened at $84.00 for a gain of 25.4% at first trade. The stock hit a first week high of $91.81 before closing Friday at $88.62.
Looking ahead to this week…there are three IPOs on the schedule.
Debuting Wednesday (5/26)
- Flywire Corporation (FLYW) — Flywire is a leading global payments enablement and software company. The company is seeking a market cap of $2.2b-$2.4b based on the $22-$24 range.
- Paymentus Holdings, Inc. (PAY) — Paymentus is a leading provider of cloud-based bill payment technology and solutions. The company is seeking a market cap of $2.2b-$2.4b based on the $19-$21 range.
Debuting Thursday (5/27)
- FIGS Inc (FIGS) — They are a founder-led, direct-to-consumer healthcare apparel and lifestyle brand that seeks to celebrate, empower and serve current and future generations of healthcare professionals. The company is seeking a market cap of $2.6b-$3.1b based on the $16-$19 range.
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