Datadog and Ping Identity are the two most highly anticipated deals among the six IPOs scheduled to make their debuts this week. Collectively, IPO bankers expect to raise an estimated $1.73 billion from this six-pack of deals.
At this pace, this is a worthwhile IPO Calendar. On an annualized basis, this IPO traffic would amount to 312 deals raising nearly $90 billion. But as we all know, the IPO machinery takes a few holidays during the year. The most recent hiatus was the break stretching from mid-August to about a week after Labor Day. But now the IPO Calendar is back in the September swing of things.
Datadog and Ping both hail from the technology sector. Three other IPOs on tap this week are from the healthcare sector while the remaining one is a blank check deal.
The IPO game starts Monday evening. Let’s take a look at this week’s deals, organized by pricing and trading dates.
Monday evening pricing for Tuesday morning trading
Apex Technology Acquisition (APTX.U proposed), based in Burlingame, California, is a blank check company focusing on investments within the software and Internet technology industries. This is a unit offering.
Tuesday evening pricing for Wednesday morning trading
Envista Holdings (NVST proposed), based in Brea, California, is one of the largest global dental products companies offering implants, orthodontics and digital imaging technologies. Envista’s operating companies, Nobel Biocare Systems, Ormco and KaVo Kerr, serve more than 1 million dentists in over 150 countries through one of the largest commercial organizations in the dental products industry and through its dealer partners.
IGM Biosciences (IGMS proposed), based in Mountain View, California, is a biotechnology company pioneering the development of engineered IgM antibodies to treat cancer patients. Note: Insiders have indicated interest in investing $50 million or more in this $125 million IPO, or at least 40 percent of the deal, according to the prospectus.
Wednesday evening pricing for Thursday morning trading
Datadog (DDOG proposed), based in New York City, is the monitoring and analytics platform for developers, IT operations teams and business users in the cloud age. Its SaaS platform integrates and automates infrastructure monitoring, application performance monitoring and log management to provide unified, real-time observability of its customers’ entire technology stack. Note: Up to 5 percent of the 24 million shares of this IPO have been reserved for certain individuals. (Note: SaaS stands for “software as a service.”)
Exagen (XGN proposed), based in Vista, California, is dedicated to transforming the care continuum for patients suffering from debilitating and chronic autoimmune diseases, including systemic lupus and rheumatoid arthritis, by enabling timely differential diagnosis and optimizing therapeutic intervention. Note: Insiders are in for $12 million of this $50 million IPO, or 24 percent of the deal.
Ping Identity Holding (PING proposed), based in Denver, offers the Ping Intelligent Identity platform to customers with access to cloud, mobile, SaaS and on-premises applications and APIs. Ping Identity says in its prospectus: “Our customers include many of the world’s largest enterprises, including over 50 percent of the Fortune 100.”
(For more information about these companies, please check the IPO Profiles on IPOScoop.com.)
Week of Sept. 23rd
The IPO Calendar has just one IPO for the week of Sept. 23rd. But that could change when the U.S. Securities and Exchange Commission’s filing window opens again for business on Monday morning.
Disclosure: Neither the author nor anyone else on the IPOScoop.com staff has a position in any stocks mentioned, nor do we trade or invest in IPOs. The author and IPOScoop.com staff do not issue advice, recommendations or opinions.