The late-October initial public offering (IPO) market maintained last week's momentum, with 8 traditional IPOs led by Portillo's raising nearly $1.5 billion. The week ahead plans to be even hotter, with two companies planning to raise over $2.9 billion and $1 billion, respectively, to lead a 12 listing week.
In the week's biggest offering and best performance, Portillo's Inc. (PTLO ) raised $405 million after pricing its shares at the high end and ended the week up 87%. The company owns and operates a chain of 67 fast casual restaurants mostly in the Chicago metropolitan area.
Here's the rest of the week's listings in order of offering amount:
Enfusion, Inc. (ENFN ) priced its shares at the high end of its range to raise $319 million. The software company provides end-to-end cloud-based investment management software. The stock finished the week up 17%.
P10, Inc. (PX ) priced its shares below its range to raise $240 million. The company is a multi-asset private market-focused asset manager with over $14 billion fee-paying assets under management. The stock ended the week flat.
Vita Coco Company, Inc. (COCO ) priced its shares well below its range to raise $173 million. The coconut water brand's portfolio is led by Vita Coco, which holds a 40%+ share of the U.S. market. The stocked finished the week down 7%.
Ventyx Biosciences, Inc. (VTYX ) priced its upsized offering at its midpoint to raise $152 million. The inflammatory disease focused biotech's lead candidate, VTX958, is an oral, selective tyrosine kinase type 2 inhibitor initially being developed for psoriasis, psoriatic arthritis, and Crohn's disease. The stock ended the week up 17%.
Stronghold Digital Mining, Inc. (SDIG ) priced its upsized offering about its range to raise $127 million. The cryptocurrency miner owns and operates a low-cost, environmentally-beneficial coal refuse power generation facility. The stock finished up the week 33%.
Cyngn, Inc. (CYN ) priced its shares at the low end to raise $26 million. The autonomous vehicle company plans to bein marketing its Enterprise Autonomy Suite to customers in 2022. The stock ended the week down 1%.
Context Therapeutics, Inc. (CNTX ) raised $25 million in its debut. The biotech's sole clinical candidate is being developed for ovarian, breast, and endometrial cancer in multiple clinical trials. The stock ended the week up 40%.
For the week ahead:
GlobalFoundries, Inc. (GFS ) plans to raise more than $2.97 billion from 55 million shares priced between $42 to $47 each. The U.S.-based semiconductor foundry is one of the world's leaders in specialty chips.
Informatica, Inc. (INFA ) plans to raise nearly $1.07 billion from 29 million shares priced between $29 to $32 each. The company provides data integration services on its AI-powered platform through both licenses and subscriptions.
Fluence Energy, Inc. (FLNC ) plans to raise nearly $856 million from 31 million shares priced between $21 to $24 each. The company sells energy storage products and services to utilities, independent power producers, project developers, and commercial and industrial customers.
Ensemble Health Partners, Inc. (ENSB ) plans to raise more than $746 million from 29.5 million shares priced between $19 to $22 each. The company offers a platform that provides revenue cycle management solutions to the healthcare industry.
HireRight Holdings Corp. (HRT ) plans to raise more than $613 million from over 22.2 million shares priced between $21 to $24 each. The company provides background checks, verification, identification, monitoring, and drug and health screening services to over 40,000 customers.
Udemy, Inc. (UDMY ) plans to raise nearly $484 million from 14.5 million shares priced between $27 to $29 each. The online education marketplace provides over 183,000 courses in 75 languages to over 44 million customers in over 180 countries.
LianBio (LIAN ) plans to raise more than $397 million from over 20.3 million shares priced between $15 to $17 each. The Chinese biopharmaceutical company develops and commercializes drugs for a variety of indications.
Rent the Runway, Inc. (RENT ) plans to raise more than $362 million from 15 million shares priced between $18 to $21 each. The apparel rental company generates most of its revenue from monthly subscription boxes.
Candela Medical, Inc. (CDLA ) plans to raise more than $304 million from over 14.7 million shares priced between $16 to $18 each. The company develops medical devices for elective aesthetic procedures.
Solo Brands, Inc. (DTC ) plans to raise more than $252 million from over 12.9 million shares priced between $14 to $17 each. The company sells fire pits, camp stoves, and other outdoor gear through its direct-to-consumer platform.
AirSculpt Technologies, Inc. (AIRS ) plans to raise $195.5 million from 10 million shares priced between $15 to $17 each. The company provides minimally-invasive body contouring procedures through 16 centers across 13 states in the United States.
Arteris, Inc. (AIP ) plans to raise $92 million from 5 million shares priced between $14 to $16 each. The company develops and licenses interconnect intellectual property that manages the on-chip communications in System-on-Chip semiconductor devices.
