The initial public offering (IPO) market is showing no signs of easing as this week prepares for 8 companies to debut. The IPO market has come a long way from its spring season recess due to the coronavirus pandemic's unfavorable economic climate. This week will see the introduction of an even more diverse group of companies from various industries as investors become more comfortable straying from biotechs.
Last week saw that introduction of three biotechs, two Chinese social platforms, and one special purpose acquisition company (SPAC):
Nkarta, Inc.
The second oncology biotech, Poseida Therapeutics, Inc.
The last biotech is the French company Inventiva S.A.
The Chinese company BlueCity Holdings Ltd.
The second Chinese social platform, Quhuo Ltd
To end last week's recap, Therapeutics Acquisition raised on offering $118 million, making history as the first ever warrantless SPAC. The company plans to target the biotech industry.
The week ahead has 8 offerings scheduled, ranging from healthcare related companies to software developers:
GoHealth, Inc. is planning the largest offering, aiming to raise over $908 million for 39.5 million shares priced in the range of $18-$20 each. The heath insurance marketplace platform is both fast growing and profitable, with its close rival SelectQuote
Relay Therapeutics, Inc. aims to raise over $304 million from 14.7 million offered shares priced between $16-$18 each. The phase 1 biotech's lead candidate is set to begin human clinical trials sometime this year.
NCINO, Inc. is set to raise over $254 million from about 7.6 million shares offered in the range of $28-$29 each. The cloud-based banking platform is a spin-off of Live Oak
Trean Insurance Group, Inc. plans to raise over $184 million from about 10.7 million shares offered between $13-$15. The company is operates in the worker's compensation insurance market.
ALX Oncology Holdings, Inc. is set to raise over $156 million form 8 million shares offered between $15-$17 each. The company is a phase 1 oncology biotech.
Berkeley Lights plans to raise $126 million from 7.4 million shares priced between $16-$18 each. The company provides a platform for drug discovery and development.
Pandion Therapeutics aims to raise $94 million from 5.5 million offered shares in the range of $16-$18 each. The phase 1 biotech is developing treatments for autoimmune diseases.
ACELL Inc. plans to raise $92 million from 5 million offered shares in the range of $14-$16 each. The company makes devices for wounds and soft tissue treatments.