DoorDash and Imara Inc. are among the upcoming IPOs
Passage Bio (PASG) went public during the stock market's worst week since 2008. Nonetheless, the company did fine, with the stock jumping 20% in its first day trading and the offering bringing in $216M for the gene therapy company.
GFL Environmental (GFL) opened on March 3 at $17.50. The company had priced 75M shares at $19.00. The deal size was increased to 75M shares from 73.2M shares. JPMorgan, BMO Capital, Goldman Sachs, RBC Capital and Scotiabank acted as joint book running managers for the offering. GFL Environmental is a Canadian waste management company.
Passage Bio opened on February 28 at $22.27. The company had priced 12M shares at $18.00. The deal size was increased from 7.4M to 12M shares and price at the top of $16.00-$18.00 range. JPMorgan, Goldman Sachs and Cowen acted as joint book running managers for the offering. Passage Bio is a gene therapy company with three lead programs aimed at dementia, Krabbe disease and rare childhood disease GM1 gangliosidosis.
After opening at $17.50, GFL Environmental finished Friday at $17.01.
Passage Bio ended the week at $20.20.
UPCOMING IPOS: Among the upcoming IPOs are DoorDash (DASH), CPG Newco (AZEK) and Imara Inc. (IMRA).
DoorDash announced last week that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. The initial public offering is expected to take place after the SEC completes its review process. DoorDash is an on-demand prepared food delivery service.
CPG Newco is the manufacturer and parent company of AZEK Building Products, Versatex, Scranton Products and Vycom building product brands.
Imara Inc. is a Pfizer (PFE)-backed biopharma company dedicated to developing and commercializing novel therapeutics to treat patients suffering from rare inherited genetic disorders of hemoglobin, known as hemoglobinopathies.
"Opening Day" is The Fly's recurring series of stories on the latest initial public offerings, their performance, analyst commentary and upcoming IPOs.
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