The highly anticipated post-Labor Day holiday initial public offering surge is finally coming this week, with at least 12 companies set to debut in U.S. markets. This is expected to be the biggest week for the IPO market when it comes to volume of offering amounts since Uber
The largest deal of the week is tech unicorn Snowflake, which is planning to raise about $2.2 billion by offering 28 million shares in the range of $75-$85 each. The company plans to raise over $800 million from a concurrent private placement from Berkshire Hathaway
Unity Software is next, planning to raise roughly $1.2 billion from 25 million priced in the range of $34-$42 each. The company provides a real-time 3D video game platform for development and monetization. Unity is behind over 50% of the top 1,000 games on Apple's App Store
The largest manufacturer of fresh food and beverage packaging in North America Pactiv Evergreen follows, planning to raise about $991 million from 41 million shares priced between $18-$21 each.
Commercial REIT Broadstone Net Lease is next, planning to raise $732 million from 34 million shares priced in the range of $17-$19 each. The REIT's portfolio holds over 600 properties across the United States and Canada.
American Well is not too far behind, aiming to raise $644 million from 35 million shares offered in the range of $14-$16 each. The telehealth provider allows customers to augment existing health plans and insurance providers with subscription-based tools and other services. The company has benefitted from the rapid switch to telemedicine due to the pandemic.
Coming next, JFrog plans to raise $493 million from 11.6 million shares priced between $33-$37 each. The company provides software tools that help streamline app development, growing its customer base to over 5,800. Currently, JFrog's ARR growth has been impacted by the pandemic.
Sumo Logic follows, planning to raise $357 million from 14.8 million shares priced between $17-$21 each. The company provides a Software-as-a-Service monitoring and analytics for more than 2,000 enterprise customers.
Investment firm StepStone Group is next, aiming to raise $342 million from 17.5 million shares priced between $15-$17 each. The global private markets investment firm helps provide customized solutions and advisory data services to clients.
Vitru follows close behind, planning to raise $310 million from 11.2 million shares priced between $22-$24 each. The Brazilian digital education provider offers solutions for distanced learning.
Rare disease biotech Dyne Therapeutics is among the final few, planing to raise $213 million from 10.3 million shares priced in the range of $16-$18 each. The very early-stage biotech plans to submit INDs for three of its lead programs between Q4 2021 and Q4 2022.
Bringing up the rear, Outset Medical plans to raise about $210 million from 7.6 million shares priced between $22-$24 each. The company provides hemodialysis for kidney disease patients that need minimal care and can be done in home settings.
Finally, Metacrine plans to raise $105 million from 6.54 million shares priced between $12-$14 each. The early-stage biotech is developing therapies for liver and GI diseases and is currently in Phase I trials for its lead candidate.
