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Four IPOs raised $ 767 million. Even though the IPO market has run out of steam, the four companies this week have been positive and three of them have seen an increase of at least 40%. Big Data Software Provider Elastic (NYSE: ESTC) has a price well above its range and climbs 94%. With sales of nearly $ 200 million, Elastic's growth of 79% places it in a rare group of software companies. Freelancers Market Upwork (NASDAQ: UPWK) gained 40% and the next-generation diagnostic company Guardant Health (NASDAQ: GH) grew 54%. For the moment, unicorns always seem to be in great demand.
Four blank check companies also finalized their public offering to raise $ 780 million. There were 37 SAVS this year, surpassing 2017 (34) and already marking the biggest year since 2007.
The broader market for IPOs has retreated this week, especially in the advanced technology sector. The index of IPOs fell by 5.4%, against -1.0% for the S & P 500. As of Friday, only 53% of the IPOs of 2018 were trading above the price of Offer, the lowest level since April. The VIX volatility index ended the week around 3 pm, near the start of the impact of the IPO activities.
The US IPO pipeline won its only $ 1 billion contract: China Tencent Music (TME) has applied for an initial public offering for US savings that could yield $ 2 billion. Other notable deposits include the Brazilian payment processor StoneCo (STNE) and deep water E & P EnVen Energy (ENVN).
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8 IPOs during the week of October 1, 2018 |
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|---|---|---|---|---|---|
|
Transmitter |
treat |
Market capitalization |
Prices vs. |
First day |
Come back |
|
Elastic |
$ 252 million |
$ 3,165 million |
31% |
+ 94% |
+ 94% |
|
Provides open source data search and visualization software. |
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|
Guardian's health |
$ 238 million |
$ 1,707 million |
19% |
+ 69% |
+ 54% |
|
Performs non-invasive blood-based cancer diagnostic tests. |
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|
Upwork |
$ 187 million |
$ 1,870 million |
36% |
+ 41% |
+ 40% |
|
Market for businesses to hire and manage remote freelancers. |
|||||
|
Kodiak Sciences (NASDAQ: KOD) |
$ 90 million |
$ 375 million |
-29% |
+ 2% |
+ 4% |
|
Phase 1: development of biotechnological therapies for common ophthalmic diseases. |
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|
Acquisition of ARYA Sciences (ARYAU) |
$ 125 million |
$ 156 million |
0% |
+ 2% |
+ 2% |
|
Blank check company formed by Perceptive Advisors to acquire a health care business. |
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|
Creek Necklace (NYSE: CCH.U) |
$ 400 million |
$ 496 million |
0% |
+ 2% |
+ 2% |
|
Blank check company led by Pinnacle Foods President Roger Deromedi. |
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|
Acquisition of EdtechX Holdings (NASDAQ: EDTXU) |
$ 55 million |
$ 69 million |
0% |
+ 0% |
+ 0% |
|
Blank check company set up by IBIS Capital to acquire an educational technology company. |
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|
Tech ChaSerg Acquisition (CTACU) |
$ 200 million |
$ 256 million |
0% |
n / A |
+ 0% |
|
Blank check company formed by technology veterans to acquire a technology company. |
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|
8 deposits during the week of October 1, 2018 |
|||
|---|---|---|---|
|
Transmitter |
treat |
Sector |
Drive |
|
Axonics Modulation Tech (AXNX) |
$ 86 million |
Health care |
BofA ML |
|
Marketing a neural implant in overactive bladder and incontinence. |
|||
|
Uranium Trade (UTC) |
$ 58 million |
Materials |
B. Riley FBR |
|
Newly formed vehicle to invest in the civil uranium market. |
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|
Therapeutic Orchard (ORTX) |
$ 173 million |
Health care |
JP Morgan |
|
Development of gene therapies based on stem cells for the treatment of rare diseases. |
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|
EnVen Energy |
$ 300 million |
Energy |
Citi |
|
E & P is focused on deepwater oil projects in the Gulf of Mexico. |
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|
Twist Bioscience (TWST) |
$ 86 million |
Health care |
JP Morgan |
|
Manufactures synthetic genes and other DNA-based products. |
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|
Acquisition of Alberton (ALACU) |
$ 100 million |
SPAC |
Chardan |
|
Blank check company based in Hong Kong. |
|||
|
Tencent Music |
$ 1,000 million |
Technology |
BofA ML |
|
The biggest Chinese online music streaming service. |
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|
StoneCo |
$ 100 million |
Technology |
Goldman |
|
Online payment processor based on the Brazilian cloud. |
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Editor's Note: This article discusses one or more shares traded at less than $ 1 per share and / or with a market capitalization of less than $ 100 million. Please be aware of the risks associated with these stocks.
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