The initial public offering (IPO) market continues to maintain momentum following its extended halt back in April. Last week saw the single biggest day of the year so far, as five companies and three special purpose acquisition companies (SPAC) priced on the same day. This week plans to be similar, with four companies planing to debut despite the shortened holiday week.
To recap last week, Agora Inc.
Not too far behind Agora in share growth in its initial trading day was the biotech Akouos, Inc.
Only two companies ended lower last week, with Albertsons Companies, Inc.
For SPACs, Fusion Acquisition Corp. raised $305 million to target a financial services company, Kensington Capital Acquisition Corp. raised $200 million to focus on an automobile related business, and Brilliant Acquisition Corp. raised $40 million for a company in the Asian market.
Due to the United States Friday holiday, the week ahead is scheduled to be a shortened trading week. However, the IPO market was not deterred, with four companies of various industries slated to price.
Starting the week off with a bang, Dun & Bradstreet Holdings, Inc. plans to raise over $1.5 billion form 65 million shares offering in the range of $19-$21 each. The company provides commercial data analytics services to many of the largest enterprises in the world.
Lemonade, Inc. follows, aiming to raise over $328 million from 11 million shares priced between $23-$26 each. The insurance startup provides and online quotes platform for various renters and homeowners insurance offerings.
DoubleDown Interactive Co. is next, planning to raise over $240 million from 11 million shares priced in the range of $17-$19 each. The Seoul-based developer is a leader in social casino games applications.
Finally, Accolade, Inc. plans to raise over $211 million from about 8.7 million shares offered between $19-$21 each. The company provides a platform for healthcare benefits management for self-insured employers.