Despite having priced its initial public offering at $14 per share, BRP Group (BRP) jumped out of the gate and opened trading at $17.38. Meanwhile, OneWater Marine (ONEW) decided to postpone its $60M IPO.
LATEST IPOS:
BRP Group opened on October 24 at $17.38. The company had priced 16.4M shares at $14.00, at the low end of the $14.00-$16.00 target range. BRP Group provides insurance brokerage services for multiple lines primarily in the U.S.
Cabaletta (CABA) opened on October 25 at $9.00. The company had priced 6.8M shares at $11.00. Cabaletta is developing drug treatments for Pemphigus and other autoimmune conditions.
Youdao (DAO) opened on October 25 at $13.50. The company had priced 5.6M shares at $17.00. Youdao is an e-learning unit of Chinese internet technology company NetEase (NTES).
Phathom Pharmaceuticals (PHAT) opened on October 25 at $22.50. The company had priced 9.56M shares at $19.00. Phathom Pharmaceuticals is advancing a drug treatment for GERD, a common gastrointestinal condition.
Progyny (PGNY) opened on October 25 at $13.50. The company had priced 10M shares at $13.00. Progyny provides health benefits management services for U.S. fertility patients.
PERFORMANCE:
UPCOMING IPOS:
Among the upcoming IPOs are Karat Packaging (KRAT), Leaping Group (YZCM), and Oyster Point Pharma (OYST).
Karat Packaging produces eco-friendly packaging products.
Leaping Group is a multimedia service provider with business relationships with national advertising clients in China.
Oyster Point Pharma creates clinical-stage drugs to treat dry eye disease.
POSTPONED:
Meanwhile, OneWater Marine postponed its $60M IPO. The recreational boat retailer in the U.S., operating 63 stores throughout 11 different states, had planned to offer 3.2M shares at a price range of $18.00-$20.00.
"Opening Day" is The Fly's recurring series of stories on the latest initial public offerings, their performance, analyst commentary and upcoming IPOs.
BRP Group
-0.31 (-1.90%)
OneWater Marine
+ (+0.00%)
Cabaletta Bio
+ (+0.00%)
Youdao
+ (+0.00%)
Oyster Point Pharma
+ (+0.00%)
Karat Packaging
+ (+0.00%)
Progyny
+ (+0.00%)
Phathom Pharmaceuticals
+ (+0.00%)