November's initial public offering (IPO) remains slow, with three traditional companies pricing last week and only one set to debut in the week ahead.
As the market enters the fourth-quarter, it is unlikely that activity will pick up heading into the end of the year. However, there are still a few companies that could price in 2022, including biotechs Intensity Therapeutics, Inc. (INTS ) and Acrivon Therapeutics, Inc. (ACRV ) that delayed their listings last week.
Other large IPOs are also in the pipeline, with KinderCare Learning Companies, Inc. (KLC ), Savers Value Village Inc. (SVV ), and MN8 Energy, Inc. (MNX ) all filing updates last week, Renaissance Capital reports, signaling that more companies could price before the new year.
Here's last week's recap:
Atour Lifestyle Holdings Ltd. (ATAT ) raised $52 million after pricing shares at the low end. The Chinese company franchises and manages a portfolio of hotels, targeting young, affluent consumers. The stock ended the week up 17%.
Snail, Inc. (SNAL ) raised $15 million after pricing shares at the midpoint of its downwardly revised range. The online game developer and publisher gains most of its revenue from its flagship franchise, "ARK: Survival Evolved". The stock finished the week down 40%.
ASP Isotopes, Inc. (ASPI ) raised $5 million after pricing its downsized offering at the low end of its downwardly revised range. The company develops isotope enrichment facilities. The stock ended the week down 30%.
What to look out for in the week ahead:
BullFrog AI Holdings, Inc. (BFAI ) plans to raise $8 million from 1.3 million shares priced at $6.38 each. The company is using artificial intelligence and machine learning to advance drug development.
