There are five names on the IPO schedule this week with a total of $658 million due to be raised in the public markets. Most notably, is Upwork (NASDQ: UPWK) which is a popular website offering users connections with freelancers for design, programming and other types of freelance work. The company will likely be the headline IPO this week given its more recognizable name. They are attempting to raise $135 million by offering 12 million shares at a range of $10 -$12. The company shows $230 million in sales over the last 12 months which will help given their valuation of $1.3 billion.
Next up is the largest of the week. Elastic (ESTC ) which is an open source software company focused on data and search. The California based company is coming to market with a $2.8 billion valuation and shows sales of $185 million over the last 12 months. Look for them to offer 7 million shares at a range of $26 -$29.
Guardant Health (GH ) is one of the biotech companies going public this week and will also be the largest offering on the books. The company is focused on tests that diagnose various types of cancers and will be looking to raise $200 million. They show just about $67 million in sales and with an offering of 12.5 million shares at a range of $15 - $17 are coming to market with a $1.4 billion valuation.
The other biotech company offered this week is Kodiak Sciences (KOD ). This is a phase 1 biotech company that is focused on developing medications to treat opthalmic diseases. They have no sales at the moment but insiders are on record to buy up to 50% of the offering which will be 9 million shares at a range of $13 -$15 giving them a $530 million valuation.
Arya Sciences Acquisitions (ARYAU ) is a company formed for the sole purpose of acquiring healthcare business. They will offer 12.5 million shares at a price of $10 million in hopes of raising $125 million execute their mission. The offering is somewhat unique in that each share will equate to one share of common stock as well as one half of a warrant redeemable at $11.50.
The final offering of the week is YayYo (YAYO ) which is a carryover from last week. The company focuses on renting cars to those that want to participate in one of the major ride sharing platforms like Uber and Lyft. They will attempt to raise $5 million by offering 625,000 shares at a range of $7 -$9 a share.