Rackspace, GoHealth and nCino are among upcoming IPOs
China's biggest gay dating app's owner BlueCity raised $84.8M as its initial public offering priced at $16 per American depository receipt. The company's Nasdaq debut comes amid a U.S. securities regulator warning against investments in Chinese companies.
Meanwhile, Nkarta, which is developing "natural killer-based cell therapies" to treat cancer saw its stock surge on its first day of public trading.
BlueCity (BLCT) opened on July 8 at $20.45. The company had priced 5.3M shares at $16.00. The deal range was $15.00-$17.00. AMTD acted as lead book running manager for the offering. BlueCity Holdings is an online LGBTQ community and dating platform in China.
Nkarta (NKTX) opened on July 10 at $54.75. Nkarta priced 14M shares at $18.00 after the deal size was increased to 14M shares of common stock, up from 13M, and the deal priced above the revised $16.00-$17.00 range. Cowen, Evercore ISI, Stifel and Mizuho acted as joint book running managers for the offering. Nkarta is developing natural killer-based cell therapies that treat certain types of cancer.
Quhuo (QH) opened on July 10 at $15.31. The tech-enabled workforce operational solution platform in China priced its upsized initial public offering of 3.3M American depositary shares, or "ADSs," at $10.00 per ADS. Roth Capital Partners and Valuable Capital Limited acted as joint bookrunners for the offering and Tiger Brokers Limited acted as co-manager for the offering.
Poseida Therapeutics (PSTX), which focuses on developing cell and gene therapies based on a proprietary DNA modification, gene editing and delivery technology, opened on July 10 at $17 per share. Poseida priced 14M shares at $16.00. The deal size was increased from 10M shares to 14M shares and priced at high end of $14.00-$16.00 target range. BofA, Piper Sandler and William Blair were joint book running managers for the offering.
BlueCity ended the week at $24.50.
After opening at $54.75, Nkarta finished Friday at 47.90.
Quhuo ended its first trading day at $12.70.
Poseida finished the week at $15.35.
UPCOMING IPOS: Among the upcoming IPOs are Rackspace Technology (RXT), Juniper Wellness (JUPW), nCino (NCNO), InMed Pharmaceuticals (INM) and GoHealth (GOCO).
After first going public in 2008, and then going private in 2016 after accepting a $4.3B buyout from Apollo Global Management (APO), Rackspace is taking aim again at a public offering. On July 10, Rackspace Technology announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. Rackspace Technology has applied for listing its common stock on the Nasdaq Global Select Market under the ticker symbol "RXT". The number of shares to be offered and the price range for the proposed offering have not yet been determined.