The initial public offering (IPO) market is still red hot as it's heading into August, with seven companies and five special purpose acquisition companies (SPAC) priced onto public markets, including the largest SPAC ever and four large biotechs. The week ahead plans to be another busy lineup, with six companies ready to launch.
Last week's market was led by Jamf Holding Corp.
Annexon, Inc.
Nurix Therapeutics, Inc.
iTeos Therapeutics, Inc.
Inozyme Pharma, Inc.
Montrose Environmental Group, Inc.
Skillful Craftsman Education Technology Ltd.
For SPACs, Pershing Square Tontine Holdings, Ltd. raised $4 in its offering, marking it as the largest SPAC ever. The company is targeting a "Mature Unicorn," or a business with a market cap of $10 billion or more. Ascendant Digital Acquisition Corp. raised $360 million to target a digital entertainment company. East Resources Acquisition Co. raised $300 million to focus on an energy business. Property Solutions Acquisition Corp. raised $200 million to target the real estate business. Greencity Acquisition Corp. raised $40 million with focus on an Asia-based business.
The week ahead has six companies planned to price:
Li Auto Inc. plans to raise over $1 billion from 95 million share offered between $8-$10 each.
Vertex, Inc. aims to raise about $390 million from over 21 million shares offered in the range of $14-$16 each.
Vasta Platform Ltd. is slated to raise about $374 million from over 18 million shares priced between $15.50-$17.50 each.
Allovir, Inc. plans to raise $305 million from 14.7 million shares priced between $16-$18 each.
Vital Farms, Inc. aims to raise about $153 million from about 7.8 million shares priced between $15-$17.
1847 Goedeker Inc. plans to raise over $12 million from 1 million shares offered in the range of $9-$11 each.