Well-know private mattress maker Casper Sleep filed its S-1 paperwork with the U.S. Securities and Exchange Commission on Friday. The company views itself as a major player in the "sleep economy," and sells products beyond a standard mattress. The company is not yet profitable, but is growing rapidly. Casper was valued at $1.1 billion in 2019, after investments from companies including Target (NSYE: TGT). The sleep company faces competition from mattress makers including Tempur Sealy (NYSE: TPX) and Sleep Number (NASDAQ: SNBR), as well as recent direct-to-consumer brands like Purple and Leesa. The company's filing comes from Morgan Stanley (NYSE: MS), Goldman Sachs (NYSE: GS), Jefferies (NYSE: JEF), Bank of America Securities (NYSE: BAC), UBS Investment Group (NYSE: UBS), Citigroup (NYSE: C), Piper Sandler (NYSE: PIPR) and Guggenheim (NYSE: GOF).
In addition, the grocery chain Albertson's announced that they will again be pursuing an IPO with the company's valuation estimated around $19 billion. Currently, the only grocery store chains that have a market cap over $1 billion are Kroger (NYSE: KR), Sprouts Farmers Market (NASDAQ: SFM) and Weis Markets (NYSE: WMK).
Here are 5 IPOs expected to price this week:
Anpac Bio-Medical Science Co., LTD. was slated to debut on the Nasdaq on Friday, but was delayed. The biotechnology company that focuses on early cancer screening and detection has raised an offering of $26,833, 870. The stock's share price is initially estimated to price between $12-$14, with 1,666,700 public shares offered.
I-Mab Biopharma is set to price on the global Nasdaq exchange by the end of the week. The Chinese immunotherapy biotechnology company has raised an offering of $127,777,650 and its stock is estimated to price between $12-$15. The company has offered 7,407,400 public shares.
Lizhi Inc. is also set to debut on the global Nasdaq exchange by January 17, with a raised market offering of $61,295,000. The Chinese podcast platform's stock is set to price between $11-$13 and has offered 4.1 million public shares. The fast-growing, unprofitable company is China's second largest audio platform and largest interactive audio entertainment platform.
Phoenix Tree Holdings LTD is planned to price on the New York Stock Exchange this week, with a raised offering of $201,135,000. The Chinese apartment rental platform's stock is set to price between $14.50-$16.50 and has offered 10.6 million shares.
Velocity Financial, LLC is the last in this latest slate of new public companies to enter the market this week. The mortgage lender will debut on the New York Stock Exchange at a share price estimated between $14-$16. The company has raised an offering of $133,400,000 and offered 7.25 million shares.