Airbnb and DoorDash are finally set to debut in the week ahead, ushering in a wave of "unicorn" debuts as the 2020 initial public offering (IPO) market comes to a close. A total of seven traditional IPOs are scheduled to price this week, with offerings planned to total of roughly $8.2 billion.
Airbnb, Inc. (ABNB ) is set to be this week's largest offering, with the short-term rental giant planning to raise roughly $3.4 billion from about 52 million offered shares priced between $56-$60 each in its upsized offering. Airbnb was one of the only hospitality companies to rebound from March coronavirus pandemic lows, despite its monthly bookings not yet reaching pre-pandemic levels. However, the company forecasting a weak fourth quarter due to the ongoing pandemic. The company cites Booking Holdings (BKNG ), Expedia Group (EXPE ), Google (GOOGL ), TripAdvisor (TRIP ) and Trivago (TRVG ) among its competitors.
DoorDash Inc. (DASH ) has also upsized its offering, now planning to raise about $3.1 billion from 33 million shares priced between $90 to $95 each. The delivery service giant commands the majority of the North American food delivery market, yet faces significant competition from similar companies and its grow is subject to shifting consumer trends following the end of the coronavirus pandemic. DoorDash's competitors include UberEats (UBER ) and its new subsidiary Postmates, as well as GrubHub (GRUB ).
C3.ai, Inc. (AI ) is keeping with the trend, planning to raise about $678 million from 15.5 million shares priced between $36 and $38 in its upsized offering. The company has developed a suite of low-and no-code software tools ato design, develop, and operate enterprise-scale applications with the help of artificial intelligence. The company currently has 30 customers, including Royal Dutch Shell (RDS.A ), Baker Hughes (BKR ), and the United States Air Force.
Certara, Inc. (CERT ) also upsized its offering, with the company now planning to raise about $617 million from over 24 million shares priced between $19 and $22 each. The virtual trial software provider helps drug developers conduct studies on virtual patients to predict how a drug will affect different individuals. The company's software is used by over 1,600 biopharmas and academic institutions across 60 countries.
Hydrofarm Holdings Group, Inc. (HYFM ) upsized its offering as well, now expecting to raise over $159 million from over 4.7 million shares priced between $14 to $16 each. Apart of the growing cannabis industry, Hydrofarm offers controlled environment agriculture equipment and supplies, primarily operating in the U.S. and Canada.
PubMatic, Inc. (PUBM ) upsized its offering to keep in trend for the week, with the company planning to raise over $122 million from 5.9 million shares priced between $16 to $18 each. The company provides a specialized cloud infrastructure platform as a service that enables real-time programmatic advertising transactions.
4D Molecular Therapeutics Inc. (FDMT ), the sole biotech, plans to raise over $120 million in its upsized offering by pricing roughy 4.8 million shares in the range of $20 to $22 each. The gene-therapy focused biotech is active, with three candidates in Phase I and Phase I/II clinical trials and two candidates expects to file Investigative New Drug forms with the U.S. Food and Drug Administration during the second half of 2021.
