Pipeline Update: Soy-milk company Oatly sets terms for IPO

There are just two IPOs on the schedule this week but one very large one in Oatly Group AB (OTLY).  The company, which is backed by Oprah Winfrey, is looking to price 84.4mm ADSs at $15-$17 which would value the company at $8.9b-$10.1b. The offering, which is led by Morgan Stanley,  is scheduled to debut on Thursday, 5/20.

NEW FILINGS

Company: ForU Worldwide Inc.
Symbol: FOYO
Description: They aspire to transform the highly fragmented, underserved and inefficient road freight transportation industry in China.
Shares: TBD
Price Range: TBD
Trade Date: TBD
Underwriter(s): Goldman Sachs, UBS Investment Bank, CICC
Link to Prospectus: Filed: 5-13-21
Listed Cash Raise: $100m

Company: Soulgate Inc.
Symbol: SSR
Description: Soul is a virtual social playground, where people can live in the moment, express themselves and draw inspiration from each other’s creativity.
Shares: TBD
Price Range: TBD
Trade Date: TBD
Underwriter(s): Morgan Stanley, Jefferies, BofA Securities, CICC
Link to Prospectus: Filed: 5-10-21
Listed Cash Raise: $100m

Company: Singular Genomics Systems Inc.
Symbol: OMIC
Description: They are a life science technology company that is leveraging novel next generation sequencing (NGS) and multiomics technologies to build products that empower researchers and clinicians.
Shares: TBD
Price Range: TBD
Trade Date: TBD
Underwriter(s): JP Morgan, Goldman Sachs, BofA Securities, Cowen, UBS Investment Bank
Link to Prospectus: Filed: 5-7-21
Listed Cash Raise: $100m

UPDATED TERMS

Symbol: OTLY
Description: They are the world’s original and largest oatmilk company.
Shares: 84.4 million ADSs
Price Range: $15.00-$17.00
Market Cap: $8.9b-$10.1b
Trade Date: Thursday, 5/20
Underwriter(s): Morgan Stanley, JP Morgan, Credit Suisse, Barclays, Jefferies, BNP PARIBAS, BofA Securities, Piper Sandler, RBC Capital
Co-Manager(s): Rabo Securities, William Blair, Guggenheim Securities, Truist Securities, CICC, Nordea, Oppenheimer, SEB, Blaylock Van, CL King & Associates, Loop Capital, Ramirez & Co., Siebert Williams Shank, Tribal Capital Markets
Link to Prospectus: Terms Added: 5-11-21

Company: Procore Technologies Inc.
Symbol: PCOR
Description: They are a leading provider of cloud-based construction management software, and are helping transform one of the oldest, largest, and least digitized industries in the world.
Shares: 9.47 million
Price Range: $60.00-$65.00
Market Cap: $7.7b-$8.3b
Trade Date: Thursday, 5/20
Underwriter(s): Goldman Sachs, J.P. Morgan, Barclays, Jefferies
Co-Manager(s): Canaccord Genuity, KeyBanc Capital, Oppenheimer, Piper Sandler, Stifel, William Blair
Link to Prospectus: Terms Added 5-10-21