May's initial public offering (IPO) market is staying active to open the month, with four companies set to raise about $734 million in the week ahead. Special purpose acquisition companies (SPAC) continue to decline and the U.S. Securities and Exchange Commission (SEC) continues to crack down on listings, with no blank check companies scheduled to debut.
In the largest deal of the week, American celebrity Jessica Alba's non-toxic lifestyle brand Honest Company, Inc. (HNST ) plans to raise more than $500 million from over 25.8 million shares priced between $14 to $17 each. The company's product line includes skin, personal and baby care, as well as household cleaning and other wellness products. Honest's competitors include Johnson & Johnson (JNJ ) and Procter & Gamble (PG ).
Five Star Bancorp (FSBC ) plans to raise more than $121 million from about 5.3 million shares priced between $18 to $20 each. The California community bank serves the greater Sacramento area through its seven branches and two loan offices.
iPower Inc. (IPW ) plans to raise more than $63.2 million from 5 million shares priced between $9 to $11 each. The online hydroponic equipment supplier enables customers to grow fruits, vegetables, and other plants--including cannabis--through its own website and other third party retailers on other ecommerce marketplaces like Amazon (AMZN ), eBay (EBAY ), and Walmart (WMT ).
Bowman Consulting Group Ltd. (BWMN ) plans to raise nearly $50 million from 3 million shares priced between $12 to $14 each. The engineering solutions provider offers planning, engineering, construction management, commissioning, environmental consulting, land procurement, and other similar services to clients in diverse markets.
