Shares of European Wax Center jumped on Thursday. The company, which describes itself as the largest franchisor of out-of-the-home waxing service locations in the U.S., raised $180M in its IPO.
LATEST IPOS AND DIRECT LISTINGS:
Adagio Therapeutics (ADGI) opened on August 6 at $21. The company had priced 18.2M shares at $17.00. The deal size was increased to 18.2M shares from 17.7M shares and priced within the $16.00-$18.00 range. Morgan Stanley, Jefferies, Stifel and Guggenheim acted as joint book running managers for the offering. Adagio Therapeutics is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of antibody-based solutions for infectious diseases with pandemic potential. Its lead product candidate, ADG20, is designed to be a potent, long-acting and broadly neutralizing antibody for both the treatment and prevention of COVID-19 as either a single or combination agent.
European Wax Center (EWCZ) opened on August 5 at $19. The company had priced 10.6M shares at $17.00. The deal range was $15.00-$18.00. Morgan Stanley, BofA and Jefferies acted as joint book running managers for the offering. European Wax Center operates a network of franchises across the U.S. that offer hair waxing services as well as its own line of beauty products.
Orange County Bancorp (OBT) opened on August 5 at $33.80. The company had priced 1M shares at $33.50. The deal size was increased to 1M shares from 900K shares and the range was $32.00-$35.00. Piper Sandler and Stephens acted as joint book running managers for the offering. Orange County Bancorp is a bank holding company.
Weber (WEBR) opened on August 5 at $17. The company had priced 18M shares at $14.00. The deal size was cut to 18M shares from 46.8M shares and priced below the $15.00-$17.00 range. Goldman Sachs, BofA and JPMorgan acted as joint book running managers for the offering. Weber, headquartered in Palatine, IL, identifies itself as "the world's leading barbecue brand." Weber's product portfolio includes charcoal, gas, pellet and electric grills, smokers, and accessories.
ABVC BioPharma (ABVC) opened on August 4 at $3.32. The company had priced its firm commitment offering of 1.1M units at an offering price of $6.25 per unit for total gross proceeds of $6.875M. Each unit consists of one share of common stock, one Series A warrant to purchase one share of common stock at an exercise price equal to $6.30 per share, exercisable until the fifth anniversary of the issuance date, and one Series B warrant to purchase one common share at an exercise price of $10.00 exercisable until the fifth anniversary of the issuance date.
PERFORMANCE:
RECENT IPOS TO WATCH:
Blend Labs (BLND), Imago BioSciences (IMGO), Stevanato Group (STVN), Regencell Bioscience (RGC), TScan Therapeutics (TCRX), Erasca (ERAS), Sight Sciences (SGHT), Membership Collective (MCG), Rapid Micro Biosystems (RPID), Cullman Bancorp (CULL), F45 Training (FXLV), Phillips Edison (PECO), Sera Prognostics (SERA), Kaltura (KLTR), CS Disco (LAW), Paycor (PYCR), VTEX (VTEX), TC Bancshares (TCBC), Twin Vee PowerCats (VEEE), and HCW Biologics (HCWB) are among stocks that could see new coverage roll out this upcoming week as the quiet periods for banks that underwrote the companies' IPOs expire.
UPCOMING IPOS:
Upcoming IPO and direct listings expected include Chobani, Qiniu (QNIU), Camposol (CMSL), Spark Education (SPRK), Sweetgreen, Warby Parker, Perspectum Group (SCAN), Braze, Authentic Brands (AUTH), Portillo's, and Fabletics.
Food maker Chobani announced that it filed a confidential draft registration statement with the Securities and Exchange Commission on July 6, 2021 for a proposed underwritten public offering of common stock. The number of shares of common stock to be sold and the price range for the proposed offering have not yet been determined. Chobani expects to commence the public offering following completion of the SEC review process, subject to market and other conditions.
Qiniu has filed with the SEC for an initial public offering of its American depositary shares, or ADSs. The company said in its filing with the SEC that it intends to apply to list the ADSs representing its Class A ordinary shares on the Nasdaq Global Select Market under the symbol "QNIU." Qiniu describes itselfs as "China's leading cloud-based Platform-as-a-Service provider as measured by revenue in 2020, focusing on media and machine data, pioneering an integrated, one-stop 'cloud + data' platform that empowers enterprise customers across a wide spectrum of industries."
Camposol Holding, a global provider of fresh and healthy foods, has filed with the SEC regarding a planned initial public offering.
Spark Education has filed with the SEC for an initial public offering of American depositary shares, or ADSs, representing Class A ordinary shares of Spark Education Limited. In the filing, Spark said that, "We are a pioneer and innovator in China's K-12 after-school tutoring, or AST, market, offering foundational learning services to K-12 students... As a result of our unique approach to learning, we have become China's largest online small-class education company in terms of gross billings in 2020 and the number of students as of December 31, 2020, according to CIC."
Sweetgreen announced 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 Class A common stock. The initial public offering is expected to commence after the SEC completes its review process, subject to market and other conditions.
Warby Parker announced that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed public listing of its Class A common stock. The public listing is expected to take place after the SEC completes its review process, subject to market and other conditions.
Perspectum Group filed with the SEC for an initial public offering of American depositary shares. Perspectum is a commercial-stage precision health company focused on "democratizing" care globally through the use of digital technologies. The company said its software products "combine expertise in image formation, magnetic resonance image analysis and artificial intelligence to support healthcare provider diagnosis, treatment decision-making and monitoring of the progression of chronic metabolic diseases, multi-organ pathologies and cancer, and determine whether the patient is responding to therapy."
Braze announced 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 initial public offering is expected to commence after the SEC completes its review process, subject to market and other conditions.
Authentic Brands has filed with the SEC for an initial public offering, stating that it intends to have its Class A common stock listed on the New York Stock Exchange under the symbol "AUTH." Authentic Brands Group is the parent of apparel chains Aeropostale and Forever 21, department store operator J. C. Penney, and Sports Illustrated magazine among other holdings. In the regulatory filing, Authentic Brands lists asset manager BlackRock (BLK), private equity firm General Atlantic and mall owner Simon Property Group (SPG) among its shareholders.
Portillo's Hot Dogs, the fast-casual restaurant chain held by private-equity firm Berkshire Partners, is expected to confidentially submit a draft registration statement for a public offering with federal regulators, reported The Wall Street Journal's Heather Haddon, citing sources close to the company.
https://www.wsj.com/articles/portillos-aims-to-go-public-this-year-11626441797?mod=latest_headlines
Fabletics, the workout-apparel brand backed by Kate Hudson, has tapped banks to help it prepare for an initial public offering that it hopes would value it at more than $5 billion, The Wall Street Journal's Cara Lombardo and Corrie Driebusch reported, citing people familiar with the matter. Fabletics, owned by TechStyle Fashion Group, recently selected Morgan Stanley (MS), Goldman Sachs (GS), Barclays (BCS) and Bank of America (BAC) for its IPO and is aiming to raise around $500 million in an offering, they said.
OTHER NOTABLE NEWS:
JAB Holding is carving Panera Bread out into a new unit that will also include Caribou Coffee, Einstein Bros Bagels and other brands to help the chains expand as they emerge from the COVID-19 pandemic, Panera Chief Executive Officer Niren Chaudhary told Reuters. Chaudhary, who will lead the new group while retaining his position at Panera Bread, declined to comment on an IPO or sale but said that "we are always exploring opportunities."
"Opening Day" is The Fly's recurring series of stories on the latest initial public offerings, their performance, analyst commentary and upcoming IPOs.
Adagio Therapeutics
-0.45 (-2.11%)
European Wax Center
+1.2 (+5.61%)
Orange County Bancorp
-0.41 (-1.19%)
Weber
+1.59 (+9.67%)
ABVC BioPharma
+0.025 (+0.79%)
Blend Labs
+0.34 (+1.89%)
Imago BioSciences
+0.18 (+0.74%)
Stevanato Group
-0.3 (-1.43%)
Regencell Bioscience
+ (+0.00%)
TScan Therapeutics
-0.49 (-4.54%)
Membership Collective
+0.015 (+0.11%)
Rapid Micro Biosystems
-0.88 (-3.60%)
Cullman Bancorp
-0.01 (-0.09%)
F45 Training
+0.275 (+1.75%)
Phillips Edison
+1.28 (+4.52%)
Sera Prognostics
+0.18 (+1.42%)
Kaltura
+1.54 (+12.79%)
CS Disco
-4.17 (-9.07%)
Paycor HCM
+0.67 (+2.26%)
Vtex
+0.51 (+1.70%)
TC Bancshares
+0.02 (+0.17%)
Twin Vee PowerCats
+0.05 (+1.12%)
HCW Biologics
+0.05 (+1.01%)
Qiniu
+
Camposol
+
Spark Education
+
Perspectum Group
+
Authentic Brands Group
+ (+0.00%)
BlackRock
+6.69 (+0.75%)
Simon Property
+1.14 (+0.85%)
Morgan Stanley
+1.91 (+1.95%)
Goldman Sachs
+13.54 (+3.52%)
Barclays
+0.21 (+2.08%)
Bank of America
+1.13 (+2.90%)
Erasca
+0.265 (+1.28%)
Sight Sciences
-0.19 (-0.50%)