The IPO market posted a busy week ahead of the U.S. shortened trading week, with six companies and five special-purpose acquisition companies (SPAC) entering public markets between February 11-14. For the week ahead, no companies are slated to price but few may launch on Tuesday.
Here's the new company recap:
Huize Holding LTD (NASDAQ: HUIZ), a Chinese online insurance marketplace, kicked off the initial public offering market last week. The company had raised $55,125,000 from 5.25 million offered shares priced above the stock's midpoint range at $10.50 each. The company finished up 6%.
Muscle Maker, Inc. (NASDAQ: GRIL) raised a nano-cap of $8 million from 1.5 million offered shares priced at $5 per share. The fact-causal restaurant chain that offers healthy food options has a market capitalization of $37 million.
Revolution Medicines (NASDAQ: RVMD) priced its initial offering at the stock's estimated high end. The Phase 1 and 2 oncology biotech had raised $230 million from 14 million shares priced at $17. The stock finish that week up 66.5%
TFI International (NYSE: TFII) raised $200 million by offering 6 million shares at $33.35 each. The Canada-based company provides trucking and logistics services for North American companies. The company end its week up almost 9%.
Trxade Group, Inc. (NASDAQ: MEDS) had raised a micro-cap of $5 million from 800,000 offered shares set at $6.50 each. The business-to-business online pharmaceutical marketplace had priced its IPO on the lower end of valuing estimates. The company has a market capitalization of $37 million.
Duos Technologies Group (NASDAQ: DUOT) priced its IPO on February 14, raising $8 million from 1.35 million offered shares set at $6 per share. The company provides enterprises with turn-key solutions for monitoring assets. The company has a market capitalization of $19 million.
Hello new SPACs:
CITIC Capital Acquisition Corp. (NYSE: CCACU) kicked off the SPAC market for the week, raising $240 million from 24 million offered shares set at $10 each. The Chinese blank check company plans to target energy efficiency and technology business at its home nation of China.
GreenRose Acquisition Corp. (NASDAQ: GNRSU), a blank check company focuses on the cannabis industry, raised $150 million from 15 million offered shares priced at $10 per share.
Yunhong International (NASDAQ: ZGYHU) raised $60 million from 6 million offered shares priced at $10 each. The Chinese blank check company plans to use the amount raised towards acquisition of consumer or lifestyle assets in Asia.
Churchill Capital Corp. III (NYSE: CCXXU) raised an offering of $1 billion from 100 million offered shares at $10 each. Setting the record for the largest SPAC ever, this is the third blank check company founded by former Citi (NYSE: C) executive Michael Klein.
Newborn Acquisition Corp. (NASDAQ: NBACU), a blank check company led by Chinese fund managers focused on U.S. and Asian businesses, had raised $50 million from 5 million offered shares priced at $10 each on.