The IPO markets roll into May with an ever building excitement surrounding the year of big name launches. Investors continue to be glued to the IPO markets looking for the latest news on the big names that are all slowly making their way to the markets.
Uber (UBER ) has been the major focus as they are now officially ready to launch. Though they did announce last week that they would be pricing in a range of $44-$50 investors are still excited about this headline IPO. Prior to the Lyft (LYFT ) IPO Uber had sought to price at a level that would give them a $100 billion valuation but since chose to lower that expectation to around $85 billion. Look for the official IPO of Uber next week.
Slack (SK ) has also been in the news with their announcement of a direct listing on the New York Stock Exchange. The popular workplace messaging app will sell an undisclosed amount of shares direct to investors in the controversial IPO process that Spotify (SPOT ) used last year.
Looking ahead to this week we have a bunch of names that are trying to price before the focus turns 100% to Uber. The largest offering of the week comes from Beyond Meat (BYND ) out of California. The company makes plant based meat products and has sold $88 million worth of these products over the last year. Their looking for $175 million and will offer 8.75 million shares at a range of $19-$21. Some quick math shows they are seeking a massive $1.23 billion valuation.
Their are two Chinese tech names this week and two healthcare names. So-Young (SY ) is in the plastic surgery space and Yunji (YJ ) is an eCommerce site with a social focus. Though both of them will grab your attention for their recent, rapid growth, it's hard to look past the lack of profits.
The healthcare names are TransMedics Group (TMDX ) and Trevi Therapeutics (TRVI ), both of which are on the smaller end of the deals this week. TransMedics is in the donor device category and Trevi is in the drug space. Both are looking for just under $75 million each.