The initial public offering (IPO) market heated up last week, with nine traditional IPOs and nine special purpose acquisition companies (SPAC) listing on Wall Street.
In the biggest deal of the week, Marqeta, Inc. (NASDAQ: MQ) raised more than $1.2 billion by pricing its shares above its range. Marqeta provides an open API platform for card issuing and digital payments. The stock ended the week up 17%.
In the week's best performance, Kanzhun Ltd. (NASDAQ: BZ) finished the week up 96% after raising $912 million in its debut. The Chinese recruitment platform's core product BOSS Zhipin promotes direct chats between job seekers and enterprise clients.
Here's the rest of the week's debuts in order of offering amount:
LifeStance Health Group, Inc. (NASDAQ: LFST) priced its shares above the range to raise $720 million. The company is one of the largest outpatient mental health providers in the United States, with 370 centers across 73 MSAs in 27 states. The stock ended the week up 33%.
monday.com Ltd. (NASDAQ: MNDY) also priced its shares above the range to raise nearly $574 million. The Israeli software provider host a platform that can be adapted to support virtually any use case, creating a large market opportunity. The stock finished the week up 22%.
TaskUs, Inc. (NASDAQ: TASK) priced its shares at the midpoint of its range to raise nearly $304 million. The company provides outsourced customer support and business services to high-growth technology firms. The stock ended the week up 35%.
Zeta Global Holdings Corp. (NYSE: ZETA) priced its downsized offering at the low end to raise $215 million. The company offers a consumer intelligence and marketing automation platform to offer clients actionable insights to improve marketing strategies. The stock finished the week down 17%.
Janux Therapeutics, Inc. (NASDAQ: JANX) priced its upsized offering at the high end of its share range to raise nearly $194 million. The company expects to submit at least two Investigative New Drug applications to the U.S. Food and Drug Administration by the end of 2022. The stock ended the week up 48%.
1stdibs.com, Inc. (NASDAQ: DIBS) priced its shares within its range to raise $115 million. The online luxury goods marketplace finished the week up 21%.
Zhangmen Education Inc. (NYSE: ZME) also priced its shares within the range to raise nearly $42 million. The Chinese online K-12 tutoring service provider finished the week up 17%.
Nine SPACs went public last week, marking the busiest week for blank check companies since March, led by Logistics Innovation Technologies Corp. (NASDAQ: LITTU) raising $300 million.