With almost $900 million in potential IPO's this week, all the focus will likely be on only one name. After a few weeks of build up the much anticipated, Dropbox will be going public. It is the largest offering in the tech space since SnapChat (NASDAQ: SNAP) went public last year.
Dropbox (NASDAQ: DBX) is the biggest name on the schedule this week with their $612 million public offering. The company has seen strong growth and historically has maintained a substantial free cash flow. This metric has been a selling point for the IPO during the last few weeks, along with its valuation which is coming in at $7.6 billion. Salesforce (NYSE: CRM) has recently indicated a $100 million investment though this will be in a private placement, not in the IPO. Also, investors should note that insiders are on the books to sell a total of 25% of the offering. 36 million shares will be offered at the $16 - $18 range.
Sunlands Online Education (NYSE: STG) is the next largest offering of the week. The Chinese based education company is looking for $163 million and will offer 13 million shares at $11.50 - $13.50. The company is slightly different than other Chinese based education companies in that this one focuses on higher education and professional degrees. Largely online based these days, the company has rapidly seen enrollment numbers increase.
PolyPid (NASDAQ: POLY) is the smallest offering of the week. The biotech company is looking for $75 million by offering 3.3 million shares at a range of $21 - $24. In a nutshell, the Israel, based company is working on a medication that prevents infections at surgical sites for post-op patients. The product that the are closest to market is currently in phase 2 clinical trials with plans to start phase 3 later this year.