Shares of ZipRecruiter jumped over 17% in their market debut via a direct listing on Wednesday. ZipRecruiter's direct listing follows Squarespace's (SQSP) last week, Coinbase's (COIN) in April and Roblox's (RBLX) back in March. Meanwhile, healthcare apparel maker FIGS rose as much as 40% on Thursday as the shares opened for trade on the NYSE.
LATEST IPOS AND DIRECT LISTINGS:
Centessa Pharmaceuticals (CNTA) opened on May 28 at $20.25. The company had priced 16.5M shares at $20.00. The deal size was increased to 16.5M shares from 15M shares and priced at the high-end of the $18.00-$20.00 range. Morgan Stanley, Goldman Sachs, Jefferies and Evercore ISI acted as joint book running managers for the offering. Centessa was founded to operate as a parent firm to numerous subsidiaries developing treatments for cancers, kidney and cardiovascular diseases. It owns ten "asset-centric companies" whose programs range from discovery-stage to late-stage development.
Singular Genomics Systems (OMIC) opened on May 27 at $29. The company had priced 10.2M shares at $22.00. The deal size was increased to 10.2M shares from 8.5M and priced at top end of $20.00-$22.00 range. JPMorgan, Goldman Sachs, BofA, Cowen and UBS acted as joint book running managers for the offering. Singular Genomics is a life science technology company whose first integrated solution is targeted at the next generation sequencing, or NGS, market and comprises an instrument and an associated menu of consumable kits.
FIGS (FIGS) opened on May 27 at $28.30. The company had priced 26.4M shares at $22. The deal size was increased to 26.4M shares from 22.5M shares and priced above the $16.00-$19.00 range. Goldman Sachs, Morgan Stanley, Barclays and Credit Suisse acted as joint book running managers for the offering. FIGS is a direct-to-consumer healthcare apparel and lifestyle brand for healthcare professionals.
Day One Biopharmaceuticals (DAWN) opened on May 27 at $25. The company had priced 10M shares at $16.00. The deal range was $14.00-$16.00. JPMorgan, Cowen and Piper Sandler acted as joint book running managers for the offering. Day One is a clinical-stage biopharmaceutical company whose lead product candidate, DAY101, is an oral, brain-penetrant, highly-selective type II pan-RAF kinase inhibitor being evaluated in a pivotal Phase 2 clinical trial in pediatric, adolescent and young adult patients with relapsed or progressive low-grade glioma, or pLGG.
ZipRecruiter (ZIP) came public via direct listing and opened on May 26 at $20. The New York Stock Exchange had listed $18 as the reference price for the direct listing, noting that "the reference price is not an offering price." ZipRecruiter operates an online employment marketplace.
Paymentus (PAY) opened on May 26 at $28.76. The company had priced 10M shares at $21.00, at the high-end of the $19.00-$21.00 range. Goldman Sachs, JPMorgan, BofA and Citi acted as joint book running managers for the offering. Paymentus operates a billing and payment network.
Flywire (FLYW) opened on May 26 at $34. The company had priced 10.44M shares at $24.00. The deal size was increased to 10.44M shares from 8.7M shares and priced at the high end of the $22.00-$24.00 range. Goldman Sachs, JPMorgan, Citi and BofA acted as joint book running managers for the offering. Flywire is a global payments enablement and software company that offers a proprietary global payments network, next-gen payments platform and vertical-specific software.
PERFORMANCE:
RECENT IPOS TO WATCH:
Five Star (FSBC), Honest Company (HNST), Bowman Consulting (BWMN), Anebulo Pharmaceuticals (ANEB), Talaris Therapeutics (TALS), Waterdrop (WDH) 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 Qiniu (QNIU), NerdWallet, Didi Chuxing, Sprinklr, Regencell Bioscience (RGCB), Camposol (CMSL), WalkMe (WKME) and Rivian.
On May 28, Bloomberg reported that Rivian, which is backed by Amazon (AMZN) and Ford (F), is said to seek about $70B in a potential IPO and has picked the banks to underwrite the deal, according to Bloomberg. Goldman Sachs (GS), JPMorgan (JPM) and Morgan Stanley (MS) are among those said to be selected to work on bringing the company public, reported Bloomberg's Kiel Porter, Katie Roof, and Edward Ludlow, citing people familiar with the matter.
On April 30, Qiniu 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."
On May 14, Reuters reported that consumer financial advice website owner NerdWallet has hired a group of investment banks, led by Morgan Stanley, to arrange an initial public offering and confidentially submitted paperwork to SEC in advance of its plans to come public. The personal finance startup aims to go public before the end of the year and could seek a valuation of as much as $5B, Reuters' sources reportedly said.
Bloomberg has recently reported that China's Didi Chuxing has filed confidentially for a U.S. IPO. The Chinese ridesharing company could seek a valuation of $70B to $100B, according to Bloomberg. Other U.S.-listed ridesharing companies include Uber (UBER) and Lyft (LYFT).
Sprinklr has also announced the confidential submission of draft registration statement for proposed initial public offering. With the filing, Sprinklr is the latest high-profile start-up to seek an IPO. Sprinklr is a customer experience company.
Regencell Bioscience has filed a prospectus with the SEC for an initial public offering of its ordinary shares and has applied to list its ordinary shares on the Nasdaq Capital Market under the symbol "RGCB." Regencell Bioscience Holdings is developing formulations of traditional Chinese medicine for ADHD and ASD.
Camposol Holding, a global provider of fresh and healthy foods, has filed with the SEC regarding a planned initial public offering.
WalkMe announced that it has filed a registration statement on Form F-1 with the SEC relating to a proposed initial public offering of its ordinary shares. The number of shares to be offered and the price range for the proposed offering have not yet been determined. WalkMe has applied to list its ordinary shares on the Nasdaq Global Select Market under the ticker symbol "WKME."
"Opening Day" is The Fly's recurring series of stories on the latest initial public offerings, their performance, analyst commentary and upcoming IPOs.
Squarespace
-2.18 (-3.98%)
Coinbase
-10.48 (-4.24%)
Centessa
+2.15 (+10.63%)
Singular Genomics
+0.94 (+3.60%)
Figs
+3.995 (+13.24%)
Roblox
-3.7 (-3.80%)
Day One Biopharmaceuticals
+0.06 (+0.24%)
ZipRecruiter
+0.15 (+0.72%)
Paymentus
+2.8 (+9.99%)
Flywire
+0.94 (+2.81%)
Five Star
+0.21 (+0.81%)
Honest Company
+1.18 (+8.03%)
Bowman Consulting
-0.08 (-0.58%)
Anebulo Pharmaceuticals
+0.2 (+2.50%)
Talaris Therapeutics
+1.17 (+7.85%)
Waterdrop
-0.18 (-2.14%)
Qiniu
+
Regencell Bioscience
+
Camposol
+
WalkMe
-0.97 (-3.22%)
Amazon.com
-12.43 (-0.38%)
Ford
-0.34 (-2.29%)
Goldman Sachs
+1.79 (+0.48%)
JPMorgan
-0.03 (-0.02%)
Morgan Stanley
+0.68 (+0.75%)
Uber
+0.025 (+0.05%)
Lyft
+1.58 (+2.85%)
Save Foods
+