The initial public offering (IPO) market is maintaining January's hot streak heading into February, with seven traditional IPOs and six special purpose acquisition companies (SPAC) scheduled to debut for a diverse group of companies.
TELUS International Inc. (NYSE: TIXT) leads the week ahead, with the Canadian digital customer service provider planning to raise roughly $958 million from 3.33 million shares priced between $23 to $25 each. TELUS is fast growing and profitable, with the company growing its revenues by 53% in the first nine months of 2020. The company is planning to list both on the New York Stock Exchange and the Toronto Stock Exchange this week.
Atotech Ltd (NYSE: ATC) is aiming to raise about $864 million from over 34 million shares priced between $19 to $22 each. The German specialty chemical producer has strong cash flow generation and is a leader in the electronic plating chemistry and general metal finishing markets.
ON24 INC (NYSE: ONTF) plans to raise $495 million from 8.6 million shares priced in the range of $45 to $50 each. The company offers a B2B and B2C virtual communications platforms for both customer and business engagements. The company grew its profits by 59% for the first nine months of 2020, which turned ON24 profitable for the first time.
Sana Biotechnology, Inc (NASDAQ: SANA) plans to raise nearly $394 million from 15 million shares priced in the range of $20 to $23 each. The cell therapy biotech's lead candidate are all in preclinical development, with Sana expecting to submit Investigative New Drug forms to the Food and Drug Administration in 2022 and 2023.
loanDepot, Inc (NYSE: LDI) plans to raise $362 million from 15 million shares priced between $19 to $221 each. The company provides loan origination services that focus on mortgage and unsecured personal loans. loanDepot originated $79.4 billion of loans for the twelve months ended Sept. 30, 2020 and experienced 116% year-over-year origination volume growth for the nine months ended Sept. 30, 2020.
Landos Biopharma, Inc. (NASDAQ: LABP) plans to raise $122 million from 6.25 million shares priced between $15 to $17 each. The autoimmune therapy focused biotech's lead candidate is currently in Phase II clinical trials for mild to moderate ulcerative colitis.
Muliang Viagoo Technology, Inc. (NASDAQ: MULG) plans to raise $46 million from 11.5 million shares priced at $ each. The Chinese fertilizer manufacturer operates under the brand names "Zongbao," "Fukang," and "muliang," and saw revenues decrease by 26% for the first nine months of 2020.