Eliem Therapeutics rose 27% in its market debut earlier this week. Also higher in its first trading day, Southern States Bancshares gained as much as 9% on Thursday.
LATEST IPOS AND DIRECT LISTINGS:
DatChat (DATS) opened on August 13 at $3.95 per share. DatChat, a communication software company that gives users the ability to communicate with privacy and protection, priced its initial public offering of 2.89M units consisting of common stock and series A warrants to purchase up to 2.89M shares of Common Stock at a public offering price of $4.15 per share and accompanying warrant. DatChat warrants (DATSW) opened at 73c.
Dermata Therapeutics (DRMA) opened on August 13 at $5.80 per share. The clinical-stage medical dermatology company focused on identifying, developing and commercializing innovative pharmaceutical product candidates for the treatment of medical and aesthetic skin diseases and conditions, priced its initial public offering of 2,571,428 shares of its common stock and accompanying warrants to purchase up to 2,571,428 shares of common stock at a combined offering price of $7.00. Each share of common stock is being sold together with one warrant to purchase one share of common stock with an exercise price of $7.00 per share for gross proceeds of approximately $18M, before deducting underwriting discounts and offering expenses. Dermata Therapeutics warrants (DRMAW) opened at 90c.
Southern States (SSBK) opened on August 12 at $20.11. The company had priced 2M shares at $19.00, at the low end of its $19.00-$21.00 range. Keefe Bruyette and Truist acted as joint book running managers for the offering. Southern States Bancshares is a bank holding company that operates primarily through its wholly-owned subsidiary, Southern States Bank, which operates 15 branches in Alabama and Georgia and a loan production office in Atlanta.
Eliem Therapeutics (ELYM) opened on August 10 at $16.25. The company had priced 6.4M shares at $12.50. The deal size was increased to 6.4M shares from 6M shares. SVB Leerink, Evercore ISI, Stifel and Guggenheim acted as joint book running managers for the offering. Eliem Therapeutics is a clinical-stage biotechnology company focused on developing novel therapies for neuronal excitability disorders to address unmet needs in chronic pain, psychiatry, epilepsy and other disorders of the peripheral and central nervous systems.
PERFORMANCE:
RECENT IPOS TO WATCH:
Caribou Biosciences (CRBU), Outbrain (OB), Sophia Genetics (SOPH), Xponential Fitness (XPOF), Core & Main (CNM), Cytek BioSciences (CTBK), Gambling.com (GAMB), U.S. Century Bank (USCB), Ryan Specialty Group (RYAN), Absci (ABSI), Couchbase (BASE), Zenvia (ZENV), Zevia (ZVIA), Instructure (INST), Candel Therapeutics (CADL), PowerSchool (PWSC), Meridian Link (MLNK), Snap One (SNPO), Duolingo (DUOL), 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."
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.
"Opening Day" is The Fly's recurring series of stories on the latest initial public offerings, their performance, analyst commentary and upcoming IPOs.
DatChat
-0.44 (-11.43%)
Dermata Therapeutics
-0.56 (-9.74%)
Southern States
-0.79 (-3.97%)
Eliem Therapeutics
-2.75 (-15.69%)
Caribou Biosciences
+1.08 (+4.68%)
Outbrain
-0.25 (-1.25%)
Sophia Genetics
-0.08 (-0.44%)
Xponential Fitness
-0.24 (-2.01%)
Core & Main
+0.34 (+1.24%)
CityBank
+
Gambling.com
-0.01 (-0.13%)
U.S. Century Bank
+0.105 (+0.89%)
Ryan Specialty Group
-0.01 (-0.03%)
Absci
+1.225 (+5.15%)
Couchbase
+3.28 (+10.49%)
Zenvia
-0.11 (-0.97%)
Zevia
-1.22 (-8.71%)
Instructure
+0.52 (+2.67%)
Candel Therapeutics
-0.83 (-9.94%)
PowerSchool
+1.06 (+4.21%)
MeridianLink
+0.255 (+1.02%)
Snap One
+0.36 (+1.92%)
Duolingo
+2.43 (+1.81%)
Qiniu
+
Camposol
+
Spark Education
+
Perspectum Group
+
Authentic Brands Group
+ (+0.00%)
Morgan Stanley
-0.72 (-0.69%)
Goldman Sachs
-4.39 (-1.06%)
Barclays
-0.02 (-0.19%)
Bank of America
-0.515 (-1.22%)
Simon Property
-0.17 (-0.13%)
BlackRock
-3.36 (-0.37%)