The initial public offering (IPO) market picked up last week as Wall Street heads towards the end of the year, with six traditional IPOs raising more than $900 million in total. The week ahead plans to be quieter heading into the shortened holiday week, with only one company poised to price on the Nasdaq.
In the week's biggest offering, Samsara Inc. (NYSE: IOT) raised $804 million after pricing its shares at the high end of its range. The internet-of-things company provides a cloud-based platform that connects business assets with physical operations to enhance operational efficiency and both asset and employee productivity. Despite the strong start, the stock ended the week down 3%.
In the week's best performance, Sidus Space Inc. (NASDAQ: SIDU) finished the week up 133% after pricing its shares at its midpoint to raise $15 million. The satellite developer provides commercial satellite services, including design, manufacturing, launching, and data collection.
Here's the rest of the week's debuts in order of offering amount:
Genenta Science S.p.A. (NASDAQ: GNTA) priced its upsized offering at the midpoint to raise $36 million. The Italian solid tumor focused biotech's lead candidate is currently in a Phase 1/2 trial in newly diagnosed glioblastoma multiforme patients with unmethylated MGMT gene promoter, with Genenta expecting to complete patient enrollment and treatment by the second quarter in 2022. The stock ended the week down 4%.
Fresh Vine Wine, Inc. (NYSE: VINE) priced its shares at the high end to raise $22 million. The celebrity-founded wine company produces low carb, low calorie premium wines through wholesale, retail, and direct to consumer channels to all 50 states and Puerto Rico. The stock ended the week down 43%.
Immix Biopharma, Inc. (NASDAQ: IMMX) priced its shares at the low end of its range to raise $21 million. The biotech is developing a novel class of tissue-specific therapies, with focus on oncology and inflation. Immix's lead candidate is currently in Phase 1/2 clinical trials for solid tumors in the United States and Australia. The stock ended the week down 20%.
Bionomics LTD (NASDAQ: BNOX) raised $20 million in its debut. The Australian biotech's lead candidate is expected to begin a Phase 2 clinical trial for social anxiety disorder by the end of the year, with topline data anticipated by the end of 2022. The stock ended the week up 5%.
For the week ahead:
Cerberus Cyber Sentinel Corp. (NASDAQ: CISO) plans to raise $10 million from 2 million shares priced at $5 each. The IT company is a provider of a range of cybersecurity consulting and other related services. Cerberus is currently listed on the OTCQB.