The initial public offering (IPO) market was red hot last week, with over 12 traditional IPOs raising nearly $3.7 billion. Special Purpose Acquisition Company (SPAC) cooled off amid U.S. Securities and Exchange Commission (SEC) crackdowns, with no new pricing for the first week ever in 2021. The week ahead plans to stay active, with 5 traditional IPOs planning to raise about $2.4 billion to bring April to a close.
In the largest deal of the week, UiPath, Inc. (PATH ) raised more than $1.3 billion from pricing shares above its upwardly revised range. The software provider helps corporations easily identify and automate repetitive tasks with artificial intelligence. The stock ended the week up 34%.
Three stocks tied for last week's best performance, with NeuroPace, Inc. (NPCE ), SkyWater Technology, Inc. (SKYT ) and Treace Medical Concepts, Inc. (TMCI ) each finishing the week up 50%. The epilepsy device marker NeuroPace raised $102 million, while U.S. semiconductor foundry SkyWater Technology raised $97 million, and medical device maker Treace Medical Concepts raised $191 million; each stock priced their respective upsized offerings that the high end of its range.
Here's how the rest of the week's debuts in order of offering amount:
Zymergen, Inc. (ZY ) priced its upsized offering at the high end of its range to raise $500 million. The biofacturing company aims to produce faster, cheaper, and more sustainable materials for a broad range of applications. The company finished up 29%.
Latham Group, Inc. (SWIM ) priced its shares at the low end to raise $380 million. The swimming pool company believes it holds a 50%+ shares of the U.S. fiberglass residential pool market. The stock ended the week up 43%.
Agiliti, Inc. (AGTI ) priced shares well below its range to raise $368 million. The medical equipment services provider aims to improve patient care. The company finished up 17%.
DoubleVerify Holdings, Inc. (DV ) priced shares at the high end of its range to raise $360 million. The advertising analytics company offers a suite of tools for advertisers to measure and make insights on the performance of their ads. The company ended the week up 27%.
KnowBe4, Inc. (KNBE ) priced its downsized offering at the low end of its range to raise $152 million. The cybersecurity training platform for corporate employees to identify cyber attacks finished the week up 44%.
Rain Therapeutics, Inc. (RAIN ) priced shares at the midpoint of its range to raise $125 million. The oncology-focused biotech plans to initiate a Phase 3 trial for liposarcoma and a Phase 2 tumor-agnostic basket trial in certain solid tumors in the second half of 2022. The stock finished down 7%.
Impel NeuroPharma, Inc. (IMPL ) priced shares at the midpoint of its range to raise $80 million. The migraine and CNS drug developer filed a New Drug Application for its lead candidate in November 2020, which the U.S. Food and Drug Administration has since accepted. The stock ended the week flat.
Infobird Co., Ltd. (IFBD ) raised $25 million in its debut, with the Chinese CRM software provider finishing the week up 6%.
Five IPOs plan to raise nearly $2.4 billion in the week ahead to close out the month:
Aveanna Healthcare Holdings, Inc. (AVAH ) plans to raise over $791 million from more than 38 million shares priced between $16 to $18 each. The home care provider serves a full range of patient populations, with Aveanna expending to 30 states in the United States.
Endeavor Group Holdings, Inc. (EDR ) plans to raise nearly $588 million from 21.3 million shares priced between $23 to $24 each in its second IPO attempt. The entertainment and talent agency's portfolio includes UFC, IMG Media, and WME.
Privia Health Group, Inc. (PRVA ) plans to raise more than $426 million from 19.5 million shares priced in the range of $17 to $19 each. The healthcare platfrom is powered by its proprietary end-to-end, cloud-based technology, operating in six states in the U.S.
FTC Solar, Inc. (FTCI ) plans to raise nearly $424 million from more than 18.4 million shares priced between $18 to $20 each. The solar tracker system provider is marketed under the Voyager brand, and is one of the largest provider of two-panel in-portrait trackers in the U.S.
Fortegra Group, LLC (FRF ) plans to raise more than $162 million from 8.3 million shares priced in the range of $15 to $17 each. The U.S. specialty insurer offers commercial programs with focus on casualty lines like professional liability and contractor equipment.
