The initial public offering (IPO) market remained active last week, with eight traditional IPOs raising more than $1.2 billion and four special purpose acquisition companies (SPAC) raising $610 million in their debuts. For the week ahead, four companies plan to raise nearly $844 million.
In the week's biggest offering, Honest Company, Inc. (NASDAQ: HNST) raised $413 million from pricing shares above the midpoint of its range. Co-founded by American actress Jessica Alba, the non-toxic lifestyle brand offers baby care, skin and personal care, and household and wellness products. The stock ended the week up 19%.
In the week's best performance, Five Star Bancorp (NASDAQ: FSBC) ended the week up 25% after it priced its shares at the high end to raise $105 million in its debut. The bank serves the greater Sacramento area through its seven branches and two loan offices, with focus on commercial real estate lending.
Here's the rest of the week's debut in order of offering amount:
Waterdrop Inc. (NYSE: WDH) priced its shares at the high end of its range to raise $360 million. The Chinese health insurance platform was the nation's second most popular third-party life and health insurance broker by first year premiums in 2020, and number on medical crowdfunding platform by funds raised. The stock was the worst performer of the week, finishing down 19%.
Talaris Therapeutics, Inc. (NASDAQ: TALS) priced its shares at its midpoint to raise more than $150 million. The cell-therapy-focused biotech is currently enrolling patients for the Phase 3 clinical trial in the United States for adult living donor kidney transplant recipients. The stock ended the week down 4%.
Onion Global Ltd (NYSE: OG) priced its downsized offering at the low end of its range to raise $67.5 million. The Chinese ecommerce platform offers more than 4,000 beauty, maternal and baby, fashion, and food and beverage brands to buyers across Asia. The stock finished down 3%.
Valneva SE (NASDAQ: VALN) priced its shares within its range to raise more than $61 million. The French-listed biotech's portfolio contains a vaccine targeting Lyme disease in collaboration with Pfizer (NYSE: PFE), which is currently in Phase 2 clinical trials. The stock ended the week up 12%.
Bowman Consulting Group Ltd. (NASDAQ: BWMN) priced its upsized offering at the high end of its range to raise nearly $52 million in its debut. The company offers planning, engineering, construction management, commissioning, environmental consulting, land procurement, and other services to over 2,200 clients is a broad group of end markets. The stock finished the week flat.
Anebulo Pharmaceuticals, Inc. (NASDAQ: ANEB) priced its shares at the midpoint of its range to raise $21 million. The cannabinoid-overdose-focused biotech expects to begin a Phase 2 trial intended to reverse the negative effect of cannabinoid overdose in the Netherlands later this year. The stock ended the week up 1%.
Four debuts are slated for the week ahead:
Hear.com N.V. (NASDAQ: HCG) plans to raise more than $373 million from 16.22 million shares priced between $17 to $20 each. The hearing care services provider offers a data-driven approach to hearing care to deliver a personalized experience for consumers.
Zenvia Inc. (NASDAQ: ZENV) plans to raise nearly $260 million from more than 12.9 million shares priced between $15.50 to $17.50 each. The Brazilian customer experience platform facilitated that flow of communication for more than 9,400 customers as of December 31, 2020.
Similarweb LTD. (NYSE: SMWB) plans to raise more than $191.6 million from 8 million shares priced between $19 to $21 each. The Israeli web analytics provider has blue-chip customers across a variety of industries, and they include marketers, strategy teams, salespeople, analysts, and investors, according to its filing.
Flora Growth Corp. (NASDAQ: FLGC) plans to raise more than $19 million from over 3.33 million shares priced between $4 to $5 each. The Canadian cannabis products developer cultivates and processes medical-grade cannabis oil and other products in Colombia.