The initial public offering (IPO) market has ignited in June as investors rally around positive economic data from states reopening following coronavirus pandemic related shutdowns. Last week saw the addition of eight new companies alongside two Special Purpose Acquisition Companies (SPACs). The week ahead plans to be just as active, with an additional eight companies and one new SPAC slated to debut.
Kicking off last week, Warner Music Group
Cloud computing sales platform ZoomInfo Technologies
For investor-friendly biotechs that priced last week, Legend Biotech
Finally, two SPACs prices to finish off last week, with ARYA Sci Acquisition II raising $130 million to focus on a health-care company and Mountain Crest Acquisition raising $50 million with no particular focus.
For the upcoming week, The AZEK Company plans to raise $625 million by offering 31.3 million shares at a price range between $19 to $21 each. The company manufacturers both residential and commercial construction products throughout the Americas. Online used car company Vroom plans to raise $431 million from shares priced between $18-$20 each. The company's lead rival Carvana
For biotechs, oncology biotech Lantern Pharma plans to raise over $30 million from 1.563 million shares priced between $15-$17 each. Muscle disorder biotech Avidity Biosciences plans to raise $150 million from 10 million offered shares at the price range of $14 to $16 each. Preclinical vaccine biotech Vaxcyte plans to raise $210 million from 14 million offered shares at at a price range of $14 to $16. Rare disease biotech Generation Bio plans to raise $126 million by offering 7.4 million shares pricing between $16 to $18 each. Chinese cancer test provider Burning Rock Biotech plans to raise $196 million by offering 13.5 million shares in the price range of $13.50 to $15.50.
To finish next week, SPAC Hudson Executive Investment plans to raise $200 million to target a fintech or healthcare business.