Ahead of the shortened holiday week for the stock market, six initial public offerings (IPO) went public last week successfully, with every new stock soaring about their initial price. While the week ahead is cooled off, with only one company set to debut, new IPO filings continue to pour in, setting up December to be packed with highly anticipated unicorns like DoorDash, Airbnb and Wish.
Last week, Maravai LifeSciences Holdings, Inc. (NASDAQ: MRVI) priced its upsized offering at the high end of its range at $27 per share to raise $1.62 billion, which was the biggest offering of the week. The research testing service provider is highly profitable and demonstrated accelerated growth throughout 2020 due to the coronavirus pandemic. Maravai finished its first week up 11%.
Sotera Health Co. (NASDAQ: SHC) also priced its shares at the high end of its range at $23 each to raise over $1 billion in debut. The provider of sterilization services has experienced some downturns due to the coronavirus pandemic, but continues to be profitable with expanding margins and strong free cash flow. The stock ended the week up 9%.
Yatsen Holding Ltd. (NYSE: YSG) continued the trend, pricing its shares at the high end of its range at $10.50 per share to raise an offering of $617 million. The Chinese cosmetics producer and merchant operates under popular brands, including The Perfect Diary and Abby's Choice. While the company has been impacted by the coronavirus pandemic, it has still experienced growth. Yatsen finished its first week up 91%.
Telos Corp. (NASDAQ: TLS) priced its upsized offering at the midpoint of $17 per share, rising over $254 million. The cybersecurity product provider offers software based security solutions, with the U.S. government accounting for more than 90% of the company's 2019 revenue. The company end the week up 12%.
Last week's top performer was Olema Pharmaceuticals, Inc. (NASDAQ: OLMA), which priced its upsized offering above its initial range at $19 per share to raise $209 million in its debut. The oncology biotech is currently developing a targeted therapy for metastatic breast cancer that can be administered orally instead of injected intramuscularly. Olema's lead candidate is currently in Phase I/II trial, with initial data expected in the second half of 2021. The biotech soared 157% in its first week.
NeoGames S.A. (NASDAQ: NGMS) priced its shares above the range at $17 each to raise about $82 million in its debut. The Israeli company provides technology, gaming, and operational services to lottery operators in North America and Europe. The company finished up 22% for the week.
There's only one company planned to publicly debut in the week ahead, Ozon Holdings PLC (NASDAQ: OZON), planning to raise $948 million from 30 million shares priced between $22.50 to $27.50 each. The Russian e-commerce company is currently unprofitable and may see reduced consumer demand due to the coronavirus pandemic, but has demonstrated strong GMV growth in both 2019 and the first nine months of 2020.