Shares of pet care retailer PetCo gained more than 60% in their return to the public market on Thursday. Meanwhile, Poshmark's stock more than doubled in its trading debut earlier this week.
LATEST IPOS:
Playtika Holding (PLTK) opened on January 15 at $33.40 after the company priced 69.5M shares at $27.00, above the $22.00-$24.00 range. Morgan Stanley, Credit Suisse, Citi, Goldman Sachs, UBS and BofA acted as joint book running managers for the offering. Playtika Holding is a developer of mobile games.
Driven Brands (DRVN) opened on January 15 at $28 per share. Driven priced 31.8M shares at $22.00. The deal size was decreased to 31.8M shares from 38M and priced above the $17.00-$20.00 target range. Morgan Stanley, BofA, Goldman Sachs, JPMorgan and Barclays acted as joint book running managers for the offering. Driven Brands is an automotive services company in North America with more than 4,100 locations across 49 U.S. states and 14 international countries.
PetCo (WOOF) opened on January 14 at $26. The company had priced 48M shares at $18.00. The deal priced above the $14.00-$17.00 range. Goldman Sachs and BofA acted as joint book running managers for the offering. The pet retail giant PetCo has gone public three times since its founding - in 1994, 2000 and again in 2002. COVID-19 has helped boost sales in 2020 amid a jump in pet ownership.
Poshmark (POSH) opened on January 14 at $97.50. The company had priced 6.6M shares at $42.00. The deal priced above the $35.00-$39.00 range. Morgan Stanley, Goldman Sachs and Barclays acted as joint book running managers for the offering. Poshmark is an online clothing reseller.
Affirm (AFRM) opened on January 13 at $90.90. The company had priced priced 24.6M shares at $49.00. The deal priced above the $41.00-$44.00 range. Morgan Stanley, Goldman Sachs and Allen & Co. acted as joint book running managers for the offering. Affirm is a payments company co-founded by Max Levchin, a co-founder of PayPal (PYPL).
Motorsport Games (MSGM) opened on January 13 at $35. The company had priced 3M shares at $20.00, at the high end of its $19.00-$20.00 range. Canaccord and Benchmark acted as joint book running managers for the offering. Motorsport Games is a racing game developer, publisher and esports ecosystem provider of official motorsport racing series.
Qilian International (QLI) opened on January 12 at $8.01. The company had priced 5M shares at $5.00. The deal range was $5.00-$7.00. Univest Securities, Loop Capital and Alexander Capital acted as joint book running managers for the offering. Qilian International is a China-based pharmaceutical and chemical products manufacturer.
SPAC IPOS:
Thoma Bravo Advantage (TBA) opened on January 15 at $12.75. The blank check company had priced its initial public offering of 90M shares at $10.00 per class A ordinary share. Thoma Bravo Advantage is sponsored by Thoma Bravo Advantage Sponsor, an affiliate of Thoma Bravo, and was formed for the purpose of executing a business combination in the software industry.
Hennessy Capital Investment Corp. V (HCIC) opened on January 15 at $11.02 per unit after having priced its upsized initial public offering of 30M units at $10.00 per unit. The blank check company intends to focus its search on target businesses in the sustainable industrial technology and infrastructure industries.
Group Nine Acquisition (GNAC) priced its upsized initial public offering of 20M units at $10.00 per unit and opened for trade at $10.46 on January 15. The blank check company has not selected any specific target business.
26 Capital Acquisition (ADER) priced its upsized initial public offering of 24M units at $10.00 per unit and opened at $10.41 per unit on January 15. The blank check company intends to concentrate its efforts in identifying "high quality businesses in the gaming and gaming technology, branded consumer, lodging and entertainment, or Internet commerce sectors."
OCA Acquisition (OCAX) priced its initial public offering of 13M units at $10.00 per unit and opened on January 15 at $10.40 per unit. The blank check company intends to focus on a U.S. business in the technology-enabled business services or financial services sectors.
Environmental Impact Acquisition (ENVI) opened on January 14 at $10.61. The blank check company an affiliate of Canaccord Genuity, had priced its upsized initial public offering of 18M units at $10.00 per unit.
Hamilton Lane Alliance Holdings I (HLAH) opened on January 13 at $10.73. The blank check company had priced its upsized initial public offering of 24M units at $10.00 per unit. Hamilton Lane Alliance Holdings I intends to "avoid companies in highly cyclical sectors such as upstream and midstream energy, commodities or real estate."
Northern Genesis Acquisition Corp. II (NGAB) opened on January 13 at $11.35. The blank check company had priced its upsized initial public offering of 36M units at $10.00 per unit. Northern Genesis intends to focus on opportunities whose business model demonstrates clear commitments to sustainability and strong alignment with environmental, social and governance principles.
Marlin Technology (FINM) opened on January 13 at $10.50. The blank check company had priced its initial public offering of 36M units at $10.00 per unit. Marlin intends to target companies within the technology sector with enterprise valuations in an approximate valuation range of $1.5B to $3B.
Fortress Capital Acquisition (FCAX) opened on January 13 at $10.65. The blank check company had priced its upsized initial public offering of 35M units at $10.00 per unit and opened for trading at $10.65 per unit. Led by Chairman and CEO Michael Nierenberg, Fortress Capital expects to focus on financial services related businesses, including, but not limited to, services and technology businesses that provide support to the financial services sector.
Pontem (PNTM) opened on January 13 at $10.55. The blank check company had priced of its initial public offering of 60M units at $10.00 per unit.
890 5th Avenue Partners (ENFA) opened on January 12 at $10.39. The blank check company had priced its initial public offering of 25M units at $10.00 per unit. 890 intends to focus on businesses in the media and entertainment industries.
Big Cypress Acquisition (BCYP) opened on Januart 12 at $10.15. The blank check company had priced of its initial public offering of 10M units at $10.00 per unit. Big Cypress intends to focus its search for prospects within the life sciences industry. Ladenburg Thalmann is acting as sole book-running manager of the offering.
Adit EdTech (ADEX) opened on January 12 at $10.21. The blank check company had priced its upsized initial public offering of 24M units at $10.00 per unit. Adit EdTech intends to focus its search for a business "that would benefit from the founders' and management team's experience and ability to identify, acquire and manage a business in the education, training and education technology sectors."
Athlon Acquisition (SWET) opened on January 12 at $10.60. The blank check company had priced its initial public offering of 24M units at $10.00 per unit. Athlon, sponsored by an affiliate of Causeway Media Partners, is led by Chief Executive Officer Chris Hickey and Chairman Mark Wan.
PERFORMANCE:
UPCOMING IPOS: Among the upcoming IPOs are Roblox (RBLX), Bumble (BMBL), Coinbase (COIN), Qualtrics (XM) Caliber Home Loans (HOMS), Pharming Group (PHAR) and Mytheresa (MYTE).
On January 8, video game company Roblox said in a regulatory filing that it has filed a prospectus relating to registration of the resale of up to 196,711,321 shares of its Class A common stock by its stockholders identified in this prospectus, referred to as the registered stockholders. Unlike an initial public offering, the resale by the registered stockholders is not being underwritten by any investment bank. The registered stockholders may, or may not, elect to sell their shares of Class A common stock covered by this prospectus, as and to the extent they may determine. Such sales, if any, will be made through brokerage transactions on the New York Stock Exchange, or NYSE. Based on information provided by the NYSE, the opening public price of Roblox's common stock on the NYSE will be determined by buy and sell orders collected by the NYSE from broker-dealers. The company has been approved to list its Class A common stock on the NYSE under the symbol "RBLX." Roblox expects its Class A common stock to begin trading in February 2021.
On January 15, Bumble filed with the SEC for a planned initial public offering of shares of Class A common stock and applied to list its shares on the Nasdaq Global Select Market under the trading symbol "BMBL." In the IPO filing, Bumble disclosed it had about 42M monthly active users, or MAUs, in Q3 of 2020 and 2.4M paying users year-to-date as of September 2020. The filing added: "The Bumble app, launched in 2014, is one of the first dating apps built with women at the center. On Bumble, women make the first move, and have done so more than 1.7 billion times from September 2014 to September 2020. Bumble is the second highest grossing dating app in the world according to Sensor Tower, with 12.3 million monthly active users as of September 30, 2020.
Coinbase is the largest U.S. cryptocurrency exchange and has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission. Its IPO is expected to come in February 2021.
Qualtrics International is offering an undetermined number of shares of its Class A common stock in an initial public offering, as disclosed in a regulatory filing made with the SEC. The company anticipates that the initial public offering price will be between $20.00 and $24.00 per share, the filing stated. The company has applied to list its Class A common stock on the Nasdaq Global Select Market, or Nasdaq, under the symbol "XM." SAP America, a wholly owned subsidiary of SAP SE (SAP), currently owns 98.6% of Qualtrics' outstanding common stock and, following this offering, SAP America will continue to be the company's controlling stockholder, the filing noted.
New Residential Investment (NRZ) has announced that an affiliate of NewRez, a mortgage lending and servicing organization, has confidentially submitted a draft registration statement with the SEC relating to the proposed initial public offering of NewRez's common stock. The initial public offering is expected to take place after the SEC completes its review process.
Caliber Home Loans is a financial services company and an approved Seller/Servicer for both Fannie Mae and Freddie Mac, an approved issuer for Ginnie Mae and is an approved servicer for FHA, VA and the USDA.
Pharming Group is a commercial stage biopharmaceutical company developing innovative protein replacement therapies and precision medicines for the treatment of rare diseases and unmet medical needs.
The parent company of the Mytheresa Group GmbH announced that it has launched the initial public offering of its American Depositary Shares. MYT Netherlands Parent B.V. is offering 15,647,059 ADSs to the public. Each ADS represents one ordinary share of the company. The initial public offering price is expected to be between $16.00-$18.00 per ADS. Mytheresa has applied to list its ADSs on the New York Stock Exchange under the ticker symbol "MYTE."
"Opening Day" is The Fly's recurring series of stories on the latest initial public offerings, their performance, analyst commentary and upcoming IPOs.
New Residential
-0.22 (-2.29%)
PayPal
-2.15 (-0.89%)
Playtika
-2.36 (-6.96%)
Driven Brands
+ (+0.00%)
Petco
-1.74 (-5.94%)
Poshmark
-17.56 (-17.55%)
Affirm
+1.785 (+1.55%)
Motorsport Games
-0.43 (-1.39%)
Qilian International
-0.59 (-6.36%)
Thoma Bravo Advantage
-0.77 (-6.03%)
Hennessy Capital Investment Corp. V
+ (+0.00%)
Group Nine Acquisition
+ (+0.00%)
26 Capital Acquisition
+ (+0.00%)
OCA Acquisition
+ (+0.00%)
Environmental Impact Acquisition
+ (+0.00%)
Hamilton Lane Alliance Holdings I
+ (+0.00%)
Northern Genesis Acquisition Corp. II
+ (+0.00%)
Marlin Technology
+ (+0.00%)
Fortress Capital Acquisition
+ (+0.00%)
Pontem
+ (+0.00%)
890 5th Avenue Partners
+ (+0.00%)
Big Cypress Acquisition
+ (+0.00%)
Adit EdTech Acquisition
+ (+0.00%)
Athlon Acquisition
+ (+0.00%)
Roblox
+ (+0.00%)
Bumble
+ (+0.00%)
Coinbase
+ (+0.00%)
Qualtrics
+ (+0.00%)
Caliber Home Loans
+ (+0.00%)
Pharming
-0.26 (-1.75%)
Mytheresa
+ (+0.00%)