Mytheresa, which used to be owned by department store Neiman Marcus, raised $407M in its initial public offering after pricing the shares at the top of the marketed range.
Patria Investments (PAX) opened on January 22 at $21.50 after having priced 30.099M shares at $17.00, above the $14.00-$16.00 range. JPMorgan, BofA and Credit Suisse acted as joint book running managers for the offering. Patria Investments is a Brazilian private markets investment company.
Montauk Renewables (MNTK) opened on January 22 at $13 after having priced its initial public offering of roughly 3.05M shares at $8.50 per share. Roth Capital Partners acted as sole manager of the offering. Montauk Renewables is a renewable energy company specializing in the recovery and processing of environmentally detrimental methane from landfills and other non-fossil fuel sources for beneficial use as a replacement to fossil fuels.
Huadi International Group (HUDI) opened on January 22 at $9.01. The maker of industrial stainless steel seamless pipes and tubes products in China priced its initial public offering of 3.125M ordinary shares at a public offering price of $8.00 per share. Craft Capital Management and R.F. Lafferty are acting as joint book runners and Craft Capital Management is also acting as the lead underwriter for the offering. Huadi focuses on new products development, manufacturing, marketing and sales of stainless steel seamless pipes, tubes and stainless steel bar.
RLX Technology (RLX) opened on January 22 at $22.34 after its IPO priced at $12 per share. RLX priced 116.5M shares at $12.00, above the $8.00-$10.00 range. Citi acted as lead book running manager for the offering. RLX is a maker of e-cigarettes in China.
Dream Finders Homes (DFH) opened on January 21 at $19.51. The company had priced 9.6M shares at $13.00, inside the $12.00-$15.00 target range. BofA, RBC Capital and BTIG acted as joint book running managers for the offering. Dream Finders Home is a homebuilder focused on high growth markets.
Mytheresa (MYTE) opened on January 21 at $35.85. The company had priced 15.647M American Depositary Shares at $26.00, at the top end of the $24.00-$26.00 range. Morgan Stanley and JPMorgan acted as joint book running managers for the offering. Mytheresa is a luxury e-commerce platform for the global luxury fashion consumer.
North Atlantic Acquisition Corp. (NAAC) opened on January 22 at $10.42 after its IPO priced at $10 per unit. The blank check company intends to pursue businesses Europe or North America, primarily in Europe where company officials said SPAC activity is underdeveloped, and focus on consumer, industrials and the telecommunications sectors.
Liberty Media Acquisition (LMACA) priced of its initial public offering of 50M units at a price of $10.00 per unit and opened for trading at $13.20 on January 22. The blank check company, an indirect subsidiary of Liberty Media Corporation (LMCA), intends to search for a target in the media, digital media, music, entertainment, communications, telecommunications and technology industries. LMAC's management team is led by Greg Maffei and includes other members of Liberty's current management team.
Jack Creek Investment Corp. (JCIC) opened on January 22 at $10.40 after having priced its upsized initial public offering of 30M units at a price of $10.00 per unit. Jack Creek is incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination "with a company that is a technology innovator within the food and grocery logistics and supply chain ecosystems, where significant disruption is occurring as a result of accelerating eCommerce demand trends."
Gores Metropoulos II (GMII) opened on January 20 at $11.26. The blank check company had priced its initial public offering of 40M units at $10.00 per unit.
Oyster Enterprises Acquisition (OSTR) opened on January 20 at $10.17. The blank check company had priced its initial public offering of 20M units at $10.00 per unit. While Oyster Enterprises may pursue an acquisition opportunity in any business, industry, sector or geographical location, the company intends to focus on acquisition opportunities in the technology, financial services, real estate, real estate services, consumer products, industrials, media, hospitality and entertainment sectors. Imperial Capital and I-Bankers Securities acted as joint book-running managers of the offering.
Legato Merger Corp. (LEGO) opened on January 20 at $10.15. The blank check company had priced its upsized initial public offering of 20,500,000 units at $10.00 per unit. Legato Merger Corp. currently intends to focus on target businesses in the renewables, infrastructure, engineering and construction and industrial industries.
Patria Investments finished the week at $19.90.
After opening at $13, Montauk Renewables ended Friday at $11.73.
Huadi International Group finished the week at $7.13.
After opening at $19.51, Dream Finders Homes ended Friday at $21.39.
Mytheresa finished the week at $33.80.
UPCOMING IPOS: Among the upcoming IPOs are Roblox (RBLX), Bumble (BMBL), Home Point (HMPT), Coinbase (COIN), Qualtrics (XM), Caliber Home Loans (HOMS), and Pharming Group (PHAR).
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. 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.
On January 22, Home Point Capital announced the commencement of an initial public offering of 12.5M shares of its common stock to be sold by certain of its stockholders, at an anticipated initial public offering price between $19.00 and $21.00 per share. Home Point Capital is not selling any shares in the offering. Home Point Capital has applied to list its common stock on the NASDAQ Global Select Market under the ticker symbol "HMPT." Home Point Capital's primary business entity, Home Point Financial Corporation, is a mortgage originator and servicer "focused on driving financially healthy and successful homeownership." Homepoint is the nation's third-largest wholesale mortgage lender and the 10th-largest non-bank mortgage lender.
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.
"Opening Day" is The Fly's recurring series of stories on the latest initial public offerings, their performance, analyst commentary and upcoming IPOs.