November's initial public offering (IPO) market started off strong, with 12 traditional offering raising over $2 billion. However, the week ahead is expected to be explosive, with 11 companies set to raise more than $14 billion in total.
In the week's largest debut, Evotec SE (EVO ) raised $435 million after downsizing its offering. The German company claims to be an industry-leading drug discovery and development partner for the pharmaceutical and biotechnology market, focusing on difficult-to-treat diseases. The company ended the week up 4%.
In the week's best performance, Mainz Biomed B.V. (MYNZ ) finished up 100% after pricing its shares at the midpoint to raise $10 million in its debut. The German molecular genetics cancer diagnostic company was formed to acquire and commercialize the portfolio of PharmGenomics in Europe and the United States.
Here's the rest of the week's listings in order of offering amount:
LianBio (LIAN ) priced shares at the midpoint to raise $325 million. The company is focused on the in-licensing, development, and commercialization of therapeutics in the Greater China region. The stock ended the week down 10%.
Allbirds, Inc. (BIRD ) priced its upsized offering above its range to raised nearly $303 million. The company primarily offers premium lifestyle footwear, with over 8 million pairs being sold. Allbirds had a strong first day of trading, popping 93%, and ended the week up 74%.
Cian PLC (CIAN ) priced its shares at the high end to raise more than $291 million The Russian real estate listings platform had approximately 2.1 million listings available and an average unique monthly visitors of approximately 20.3 million in the first half of 2021. The stock ended the week up 10%.
Arhaus, Inc. (ARHS ) priced its downsized offering below the range to raise $168 million. The company sells a range of artisan-crafted furniture and home goods through 75 stores across the United States. The stock finished the week down 6%.
NerdWallet, Inc. (NRDS ) priced its shares at its midpoint to raise $130.5 million. The company operates a free personal finance platform, offering financial education and various products. The stock ended the week up 44%.
Claros Mortgage Trust, Inc. (CMTG ) priced its downsized offering at the low end to raise $103 million. The commercial mortgage REIT is focused on originating senior and subordinate loans on transitional CRE assets in major U.S. markets. The stock ended the week down 9%.
IO Biotech, Inc. (IOBT ) priced its shares at the low end of its range to raise $100 million. The immuno-oncology focused biotech's lead candidate was granted Breakthrough Therapy Designation for the treatment of unresectable/metastatic melanoma. The stock ended the week up 12%.
Cadre Holdings, Inc. (CDRE ) priced its shares at the midpoint to raise $78 million. The company manufactures and distributes equipments for law enforcement, military personnel, bomb squads, competitive shooters, and more. The stock finished up 18%.
Real Good Food Company, Inc. (RGF ) priced shares below the range to raise $64 million. The health food brand develops, markets, and manufactures healthy food options that are designed to be high in protein, low in sugar, and made from gluten- and grain-free ingredients. The stock ended the week down 8%.
MDxHealth SA (MDXH ) raised $45 million in its debut. The Belgium company provides novel prostate cancer genomic testing solutions, SelectMDx (a liquid biopsy test) and ConfirmMDx (an epigenetic test). The stock ended the week flat.
For the week ahead:
Rivian Automotive, Inc. (RIVN ) plans to raise nearly $11.5 billion from 135 million shares priced between $72 to $74 each. The company is developing and manufacturing consumer and commercial electric SUVs, vans and pickup trucks.
Hertz Global Holdings, Inc. (HTZ ) plans to raise more than $1.2 billion from 37.1 million shares priced between $25 to $29 each. The company provides vehicle rental services globally through its Hertz, Dollar and Thrifty brands.
CI&T, Inc. (CINT ) plans to raise nearly $425 million from more than 19.4 million shares priced between $17 to $19 each. The Brazilian company provides strategy, design, and software engineering services through a network of over 5,000 employees.
Expensify, Inc. (EXFY ) plans to raise nearly $280 million from over 9.73 million shares priced between $23 to $25 each. The company provides a mobile-first expense management platform.
Weave Communications, Inc. (WEAV ) plans to raise $161 million from 5 million shares priced between $25 to $28 each. The company provides a customer communication and engagement software platform to SMBs.
Lulu's Fashion Lounge Holdings, Inc. (LVLU ) plans to raise nearly $126 million from 5.75 million shares priced between $16 to $19 each. The online fashion retailer sells apparel and accessories, with focus on Millennial and Gen Z women.
Vaxxinity, Inc. (VAXX ) plans to raise more than $123 million from 6.7 million shares priced between $14 to $16 each. The biotech is developing vaccine therapies for chronic diseases using synthetic peptides.
Backblaze, Inc. (BLZE ) plans to raise more than $122 million from 6.25 million shares priced between $15 to $17 each. The cloud storage platfrom offers storage, usage and data protection services to over 480,000 customers across 175 countries.
Third Coast Bancshares, Inc. (TCBX ) plans to raise $89.7 million from 3 million shares priced between $24 to $26 each. The commercially-focused bank operates 12 branches in Texas, have total assets of $2 billion, total loans of $1.6 billion, total deposits of $1.8 billion, and total shareholders' equity of $138 million as of June 30, 2021.
Mynaric AG (MYNA ) plans to raise more than $80 million from 4 million shares priced at $17.48 each. The German company develops and manufactures laser technologies for aerospace communications networks in government and commercial markets.
FlexEnergy Green Solutions, Inc. (FLXE ) plans to raise more than $44.7 million from nearly 3.89 million shares priced between $8 to $10 each. The company designs, manufactures, and sells turbine systems and heat exchangers.
