Chobani and Authentic Brands among in-focus, upcoming IPOs
In a quiet week for IPOs, Argo Blockchain, Procept BioRobotics and Sportradar filed with the SEC for initial public offerings. Argo Blockchain is a blockchain technology company focused on large-scale crypto mining, while Procept BioRobotics is a surgical robotics company. Sportradar, the sports data provider, has filed for an initial IPO in the U.S. after merger talks with a special purpose acquisition company collapsed.
NEW IPO FILINGS:
Argo Blockchain has filed with the SEC for an initial public offering in the United States. The company is offering American Depositary Shares, or ADSs, in the United States that represents the right to receive ordinary share and may be evidenced by American Depositary Receipts, or ADRs. Argo has applied to have its ADSs listed on the Nasdaq Global Market under the symbol "ARBK." Its ordinary shares trade on the standard listing of the London Stock Exchange Main Market, or the "LSE," under the symbol "ARB," and on the OTCQX Best Market under the symbol "ARBKF."
Procept BioRobotics has filed with the SEC for an initial public offering of shares of common stock and applied to list on the Nasdaq Global Market under the symbol "PRCT." Procept describes itself in its IPO prospectus as a commercial-stage surgical robotics company "focused on advancing patient care by developing transformative solutions in urology."
Sportradar has filed with the SEC for an initial public offering. The company has applied to have its Class A ordinary shares listed on The Nasdaq Global Select Market under the symbol “SRAD.”
OTHER UPCOMING IPOS:
Upcoming IPO and direct listings expected include Chobani, Qiniu (QNIU), Camposol (CMSL), Spark Education (SPRK), Sweetgreen, Warby Parker, Perspectum Group (SCAN), Braze, and Authentic Brands (AUTH), Portillo's, 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."
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.
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.
RECENT IPOS TO WATCH:
Maxcyte (MXCT), RxSight (RXST), Tenaya Therapeutics (TNYA), Rani Therapeutics (RANI), (Nuvalent (NUVL), Icosavax (ICVX), Riskified (RSKD), Omega Therapeutics (OMGA), Immuneering (IMRX), IN8BIO (INAB), Robinhood (HOOD), Rallybio (RLYB), and ABVC BioPharma (ABVC) 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.
"Opening Day" is The Fly's recurring series of stories on the latest initial public offerings, their performance, analyst commentary and upcoming IPOs.