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. (NASDAQ: INTS) and Acrivon Therapeutics, Inc. (NASDAQ: ACRV) that delayed their listings last week.
Other large IPOs are also in the pipeline, with KinderCare Learning Companies, Inc. (NYSE: KLC), Savers Value Village Inc. (NYSE: SVV), and MN8 Energy, Inc. (NYSE: 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. (NASDAQ: 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. (NASDAQ: 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. (NASDAQ: 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. (NASDAQ: 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.