The initial public offering (IPO) market has slightly cooled leading up to the U.S. presidential election, with only five companies set to debut this week.
McAfee Corp (MCFE ) plans to raise over $936 million from about 31 million shares priced between $19-$22 each. The cybersecurity company is returning to public markets after previously taken private by Intel (INTC ). McAfee's offerings have protected over 600 million devices and its enterprise customers include 86% of the Fortune 100. The company is profitable and plans to offer a 1.7% yield at the midpoint.
Datto Holding Corp. (MSP ) plans to raise roughly $683 million from 22 million shares priced in the range of $24-$27 each. The IT infrastructure platform provides an array of integrated tools that enable managed service providers provide security and continuity services to their customers. The company is profitable and has generated positive free cash flow for the first half of this year.
Guild Holdings Co. (GHLD ) plans to raise about $186 million from 8.5 million shares priced between $17-$19 each. The company provides loans and mortgage services, and is profitable with accelerated revenue growth for the first half of 2020 as the pandemic became a catalyst for a housing market boom.
Abcam PLC (ABCM ) plans to raise roughly $170 million from about 9 million shares priced at $16.52 each. The research tool provider operates across 15 locations around the world, identifying, developing and distributing tools for life science research. The company is profitable, by its growth is slow due to its niche client base.
Foghorn Therapeutics (FHTX ) plans to raise about $147 million from 7.5 million shares priced between $15-$17 each. The oncology-focused biotech's most advanced candidates are currently anticipated to file for investigational new drug applications between the fourth quarter of 2020 and the first half of 2021.
