The initial public offering (IPO) market cooled off during the shortened holiday week last week, with only two micro-cap companies listing on the Nasdaq to raise a combined $45 million. However, the week ahead plans to reignite the red hot summer momentum with 10 traditional companies planning to debut.
Transcode Therapeutics, Inc. (RNAZ ) priced its shares at $4 each to raise $25 million in its debut. The preclinical oncology-focused biotech develops RNA therapeutics for the treatment of solid tumors. Transcode plans to submit an Investigative New Drug submission to the Food and Drug Administration in Q122 for its lead candidate. The stock ended the week up 32%.
Sentage Holdings, Inc. (SNTG ) priced its shares at the low end of the range to raise $20 million. The Chinese financial services firm offers comprehensive consumer loan repayment and collection management, loan recommendation, and prepaid payment network services. The stock finished the week up 598%.
Amid China's latest regulatory crackdown on domestic internet companies looking to list on U.S. markets, LinkDoc Technology Ltd. postponed its IPO.
After a slow holiday week, 10 traditional IPOs are scheduled to raise more than $4 billion in the week ahead:
Stevanato Group S.p.A. (STVN ) plans to raise $1.1 billion from 40 million shares priced in the range of $21 to $24 each. The Italian drug container supplier offers glass vials, syringes, and other medical-grade containers to more than 700 customers, including 41 of the top 50 pharmaceutical companies.
Phillips Edison & Company, Inc. (PECO ) plans to raise more than $606 million from 17 million shares priced in the range of $28 to $31 each. The shopping center REIT owns equity interests in 300 shopping centers across the U.S., focusing on locations that are anchored by grocers like Kroger (KR ).
Membership Collective Group Inc. (MCG ) plans to raise $552 million from 30 million shares priced in the range of $14 to $16 each. Known for its member-only luxury hotel brand Soho House, the company claims to have a large and loyal member base.
Blend Labs, Inc. (BLND ) plans to raise $414 million from 20 million shares priced in the range of $16 to $18 each. The mortgage software provider offers a digital platform to financial services firms to improve consumer experience when applying for mortgages and loans.
F45 Training Holdings Inc. (FXLV ) plans to raise more than $397 million from over 20.3 million shares priced between $15 to $17 each. Backed by the American actors Mark Wahlberg, the fitness franchise specializing in 45-minute workouts, with over 1,500 studios worldwide.
Bridge Investment Group Holdings Inc. (BRDG ) plans to raise more than $366 million from 18.75 million shares priced between $15 to $17 each. The investment manager specializes in real estate equity and debt across multiple sectors.
Erasca, Inc. (ERAS ) plans to raise $263 million from 17.5 million shares priced between $14 to $16 each. The oncology-focused biotech currently has five clinical-stage programs and plans to begin three more Phase 1b/2a trials for its lead candidate in other cancer indications by the first quarter 2022.
Sight Sciences, Inc. (SGHT ) plans to raise more than $184 million from 6.98 million shares priced between $20 to $23 each. The company develops and sells medical and surgical devices than present new treatment options for eye diseases.
Rapid Micro Biosystems, Inc. (RPID ) plans to raise $125 million from 6.6 million shares priced in the range of $18 to $20 each. The microbial testing device provider's flagship product, the Growth Direct platform, automates the manual microbial quality control testing workflow that safeguards the complex and critical bioprocessing workflows of pharmaceutical manufacturers.
Sera Prognostics, Inc. (SERA ) plans to raise over $91.6 million from more than 4.68 million shares priced between $15 to $17 each. The pregnancy diagnostics company uses its proteomics and bioinformatics platform to develop biomarker tests aimed at improving pregnancy outcomes, like premature delivery.
