Home Stock Market U.S. IPO Weekly Recap: Healthcare Dominates A 7 IPO Week

U.S. IPO Weekly Recap: Healthcare Dominates A 7 IPO Week

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Seven IPOs and 10 SPACs went public this previous week. The IPO pipeline remained lively, with 11 IPOs and 22 SPACs submitting preliminary filings.

Section 2 biotech Kronos Bio (NASDAQ:KRON) priced above the vary to boost $250 million at a $1.1 billion market cap. The biotech is growing therapies focusing on dysregulated transcription components for leukemia and strong tumor therapy. Its lead candidate is an oral selective spleen tyrosine kinase that’s anticipated to start a Section 2/3 registration trial in 2021. Kronos completed up 43%.

Oncology biotech Shattuck Labs (NASDAQ:STTK) upsized and priced above the vary to boost $202 million at a $713 million market cap. The biotech is growing novel dual-sided fusion protein therapies for most cancers utilizing their drug improvement platform. The corporate has two lead candidates which can be each in Section 1 trials, with preliminary knowledge anticipated within the 2H21. Shattuck completed up 14%.

Stay TV sports activities streaming platform fuboTV (NYSE:FUBO) priced mid-range to boost $183 million at a $1.4 billion market cap. Quick-growing and unprofitable, the corporate supplies subscribers a sports-first TV streaming platform with reside sporting occasions, in addition to information and different leisure content material. FuboTV completed up 1%.

Section 2 biotech Spruce Biosciences (NASDAQ:SPRB) priced mid-range to boost $90 million at a $366 million market cap. The biotech is growing a novel remedy for uncommon endocrine issues, beginning with basic congenital adrenal hyperplasia (CAH). Its lead candidate demonstrated promising ends in a Section 2a trial, and it’s at the moment in a Section 2b trial for grownup sufferers. Spruce completed up 13%.

Chinese language edutainment product supplier iHuman (NYSE:IH) priced mid-range to boost $84 million at a $648 million market cap. The corporate supplies built-in training merchandise focused at each instructional organizations and particular person customers, and it ranked #1 when it comes to paying customers amongst on-line childhood edutainment suppliers in China. iHuman completed up 33%.

Industrial-stage regenerative medical product maker Aziyo Biologics (NASDAQ:AZYO) priced mid-range to boost $50 million at a $177 million market cap. Unprofitable with excessive single-digit progress, the corporate has developed a portfolio of superior regenerative medical merchandise with its proprietary tissue processing platforms which can be designed to be much like pure organic materials. Aziyo Biologics completed down 20%.

OTC-listed Intrusion (NASDAQ:INTZ) raised $25 million at a $135 million market cap. Intrusion supplies quite a lot of entity identification, excessive velocity knowledge mining, cybercrime and superior persistent risk detection merchandise. Whereas the corporate has demonstrated progress and profitability on an EBITDA foundation, each income progress and EBITDA swung unfavourable within the 1H20. Intrusion completed up 38%.

10 SPACs raised $4.8 billion, led by Palihapitiya and Osborne’s sixth SPAC Social Capital Hedosophia Holdings VI (IPOF.U) elevating $1 billion. The pair additionally accomplished choices for 2 different joint ventures: Social Capital Hedosophia Holdings V (IPOE.U), which raised $700 million, and Social Capital Hedosophia Holdings IV (IPOD.U), which raised $400 million.

17 IPOs During the Week of October 5th, 2020
Issuer
Enterprise
Deal
Measurement
Market Cap
at IPO
Value vs.
Midpoint
First Day
Return
Return
at 10/09
Kronos Bio (KRON) $250M $1,107M 12% +42% +42%
Section 2 biotech growing kinase inhibitors for leukemia and strong tumors.
Intrusion (INTZ) $25M $135M -44% +38% +38%
Gives a household of software program merchandise for enterprise safety.
iHuman (IH) $84M $649M 0% +33% +33%
Gives edutainment merchandise for kids in China.
Shattuck Labs (STTK) $202M $713M 13% +14% +14%
Section 1 biotech growing novel dual-sided fusion protein therapies for most cancers.
Spruce Biosciences (SPRB) $90M $366M 0% +13% +13%
Section 2 biotech growing a novel remedy for uncommon endocrine issues.
fuboTV (FUBO) $183M $1,407M 0% +3% +1%
Provides a reside TV sports-first streaming platform.
Social Hedosophia IV (IPOD.U) $400M $488M 0% n/a +0%
Fourth clean test firm fashioned by Social Capital and Hedosophia focusing on a tech enterprise.
Social Capital V (IPOE.U) $700M $863M 0% n/a +0%
Fifth clean test firm fashioned by Social Capital and Hedosophia focusing on a tech enterprise.
Social Capital VI (IPOF.U) $1,000M $1,250M 0% n/a +0%
Sixth clean test firm fashioned by Social Capital and Hedosophia focusing on a tech enterprise.
TPG Tempo Tech (PACE.U) $450M $563M 0% n/a +0%
Clean test firm fashioned by TPG Tempo Group focusing on the tech {industry}.
TPG Tempo Helpful Fin. (TPGY.U) $350M $438M 0% n/a +0%
Clean test firm fashioned by TPG Tempo Group focusing on a enterprise with a robust ESG profile.
Empower (EMPW.U) $250M $313M 0% n/a +0%
Clean test firm fashioned by MidOcean Companions focusing on US consumer-facing companies.
FirstMark Horizon (FMAC.U) $360M $435M 0% n/a +0%
Clean test firm fashioned by FirstMark Capital focusing on a US-based tech enterprise.
Landcadia Holdings III (LCY) $500M $625M 0% -1% -1%
Third clean test firm fashioned by the CEOs of Landry’s and Jefferies to accumulate an leisure enterprise.
NextGen Acquisition (NASDAQ:NGACU) $350M $438M 0% +0% -1%
Clean test firm focusing on the commercial and healthcare sectors.
Montes Archimedes Acq. (NASDAQ:MAACU) $400M $525M 0% +0% -1%
Clean test firm fashioned by Affected person Sq. Capital focusing on the healthcare {industry}.
Aziyo Biologics (AZYO) $50M $177M 0% -15% -20%
Makes regenerative medical merchandise for varied tissue sorts.

Twelve IPOs and twenty-two SPACs submitted preliminary filings. Retail mortgage facilitation platform Lufax (LU) filed to boost $3 billion. Cell-based auto insurer Root (ROOT) filed to boost $800 million. Pool provides and companies supplier Leslie’s (LESL) filed to boost $600 million. Fabless chip producer Allegro MicroSystems (ALGM) filed to boost $350 million. Safety merchandise supplier Telos (TLS) filed to boost $242 million. Fibrosis remedy biotech Galecto (GLTO), buyer acquisition service supplier MediaAlpha (MAX), medical stage biotech Atea Prescription drugs (AVIR), and software program utility supplier Mavenir (MVNR) all filed to boost $100 million. Stable tumor remedy biotech SQZ Biotechnologies (SQZ) filed to boost $75 million. Sleep medical system developer Vivos Therapeutics (VVOS) filed to boost $20 million, whereas ache administration drug biotech Virpax Therapeutics (VRPX) filed to boost $18 million.

Daniel Och and Glenn Fuhrman’s SPAC Ajax I (AJAX.U) filed to boost $750 million. Vitality SPAC Spartan Acquisition II (SPARU.RC) filed to boost $400 million. James Carpenter and Robert Mancini’s second SPAC RMG Acquisition II (RMGBU), and know-how SPAC Carney Tech Acq. II (CTAQU) each filed to boost $350 million. Healthcare SPAC Healthcare Companies Acq. (HCARU), HPS Funding Accomplice’s SPAC Altimar Acquisition (NASDAQ:ATACU), data-centric SPAC Aequi Acquisition (ARBGU), experiential leisure SPAC Acies Acquisition (ACACU), post-bankruptcy centered SPAC Mudrick Capital Acq. II (NASDAQ:MUDSU), healthtech SPAC Lux Well being Tech Acq. (LUXA.U), and The Gores Group’s sixth SPAC Gores Holdings VI (GHVIU) all filed to boost $300 million.

TMT industry-focused SPAC Roman DBDR Tech Acq. (DBDRU) filed to boost $275 million. Forest Street’s SPAC Forest Street Acquisition (FRX.U) filed to boost $250 million. Sports activities, media and leisure SPAC Sports activities Ventures Acq. (AKICU), monetary companies SPAC Cascade Acquisition (CAS.U), Cantor Fitzgerald’s third SPAC CF Finance III (CFACU), leisure and hospitality SPAC LCP Acquisition (LCPU), and sustainability-focused SPAC Rice Acquisition (RICEU) all filed to boost $200 million.

Journey and transportation SPAC Thayer Ventures Acq. (TVACU) filed to boost $175 million. Wholesome dwelling SPAC Higher World Acquisition (BWACU) filed to boost $125 million. Healthcare and biotech SPAC Eucrates Biomedical Acq. (EUCRU) and life science SPAC Consonance-HFW Acq. (CHFW.U) each filed to boost $100 million.

34 Filings During the Week of October 5th, 2020
Issuer
Enterprise
Deal
Measurement
Sector Lead
Underwriter
Ajax I (AJAX.U) $750M SPAC Goldman
Clean test firm fashioned by Och-Ziff’s Daniel Och and MSD Capital’s Glenn Fuhrman.
Atea Prescription drugs (AVIR) $100M Well being Care JP Morgan
Scientific stage biotech growing therapies for COVID-19 and different viral infections.
Carney Tech Acq. II (CTAQU) $350M SPAC Morgan Stanley
Clean test firm focusing on the know-how {industry}.
Consonance-HFW Acq. (CHFW.U) $100M SPAC JP Morgan
Clean test firm fashioned by Consonance Capital focusing on the life science {industry}.
Lux Well being Tech Acq. (LUXA.U) $300M SPAC Credit score Suisse
Clean test firm fashioned by Lux Capital focusing on a healthtech enterprise.
Mudrick Capital Acq. II (MUDSU) $300M SPAC Jefferies
Second clean test firm fashioned by distressed debt investor Jason Mudrick to accumulate a post-bankruptcy enterprise.
Spartan Acquisition II (SPARU.RC) $400M SPAC Citi
Second clean test firm fashioned by Apollo International Administration focusing on the North American vitality {industry}.
Sports activities Ventures Acq. (AKICU) $200M SPAC Deutsche Financial institution
Clean test firm focusing on sports activities, media, and leisure.
SQZ Biotechnologies (SQZ) $75M Well being Care BofA
Section 1 biotech growing cell therapies for strong tumors and different indications.
Virpax Prescription drugs (VRPX) $18M Well being Care ThinkEquity
Preclinical biotech growing new ache administration drug know-how.
Vivos Therapeutics (VVOS) $20M Well being Care Roth Cap.
Growing medical units for sleep disordered respiratory.
Forest Street Acquisition (FRX.U) $250M SPAC Cantor Fitz.
Clean test firm fashioned by Forest Street focusing on TMT companies.
Healthcare Companies Acq. (HCARU) $300M SPAC BofA
Clean test firm focusing on healthcare companies and associated industries within the US.
Thayer Ventures Acq. (TVACU) $175M SPAC Stifel
Clean test firm fashioned by Thayer Ventures focusing on the journey and transportation industries.
Altimar Acquisition (ATACU) $300M SPAC Goldman
Clean test firm fashioned by HPS Funding Companions.
Higher World Acquisition (BWACU) $125M SPAC EarlyBird
Clean test firm fashioned by N*GEN Companions focusing on a wholesome dwelling enterprise with a robust ESG profile.
Cascade Acquisition (CAS.U) $200M SPAC Credit score Suisse
Clean test firm focusing on the monetary companies {industry}.
CF Finance III (CFACU) $200M SPAC Cantor Fitz.
Third clean test firm fashioned by Cantor Fitzgerald.
Galecto (GLTO) $100M Well being Care BofA
Section 2 biotech growing therapeutics for fibrosis and associated illnesses.
Leslie’s (LESL) $600M Client Discretionary Goldman
Main US supplier of pool provides and companies with over 930 retail places.
Lufax (LU) $3,000M Know-how Goldman
Gives a number one platform for retail mortgage facilitation in China.
Aequi Acquisition (ARBGU) $300M SPAC RBC
Clean test firm focusing on data-centric, growth-oriented firms with established enterprise fashions.
Allegro MicroSystems (ALGM) $350M Know-how Barclays
Fabless chip producer for auto and industrial markets being spun out of Sanken.
Eucrates Biomedical Acq. (EUCRU) $100M SPAC Stifel
Clean test firm fashioned by Vedanta Administration focusing on data-driven healthcare and biotech companies.
LCP Acquisition (LCPU) $200M SPAC B. Riley FBR
Clean test firm fashioned by The LCP Group focusing on the leisure and hospitality {industry}.
Mavenir (MVNR) $100M Know-how Morgan Stanley
Gives cloud-native software program purposes for cellular networks.
Rice Acquisition (RICEU) $200M SPAC Barclays
Clean test firm fashioned by Rice Funding Group focusing on vitality transition and the sustainability enviornment.
RMG Acquisition II (RMGBU) $350M SPAC BofA
Second clean test firm fashioned by Riverside’s James Carpenter and former Carlyle government Robert Mancini.
Telos (TLS) $242M Know-how B. Riley FBR
Gives software-based safety services and products.
Acies Acquisition (ACACU) $300M SPAC Morgan Stanley
Clean test firm focusing on reside, location-based, and cellular experiential leisure.
Gores Holdings VI (GHVIU) $300M SPAC Deutsche Financial institution
Sixth clean test firm fashioned by The Gores Group.
MediaAlpha (MAX) $100M Know-how JP Morgan
Gives technology-based buyer acquisition companies for insurance coverage firms.
Roman DBDR Tech Acq. (DBDRU) $275M SPAC B. Riley FBR
Clean test firm focusing on the TMT industries.
Root (ROOT) $800M Financials Goldman
Cell-based auto insurer.

IPO Market Snapshot

The Renaissance IPO Indices are market cap weighted baskets of newly public firms. As of 10/8/20, the Renaissance IPO Index was up 77.2% year-to-date, whereas the S&P 500 was up 6.7%. Renaissance Capital’s IPO ETF (NYSEARCA:IPO) tracks the index, and high ETF holdings embrace Zoom Video (NASDAQ:ZM) and Uber (NYSE:UBER). The Renaissance Worldwide IPO Index was up 36.2% year-to-date, whereas the ACWX was down 2.6%. Renaissance Capital’s Worldwide IPO ETF (NYSEARCA:IPOS) tracks the index, and high ETF holdings embrace Meituan-Dianping (OTCPK:MPNGF) and SoftBank (OTCPK:SFTBY).

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Editor’s Notice: The abstract bullets for this text have been chosen by Looking for Alpha editors.

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