October’s final week looks like a rush to the dance floor on Homecoming Weekend: Twelve IPOs and two SPACs are in the works so far. Bankers expect to raise $5.9 billion. Root, Inc. (ROOT proposed) is generating some early buzz. This tech-savvy auto insurance startup reminds some of Lemonade (LMND). (We will have more on this in a bit.)
The U.S. presidential election next week is the reason for the rush to go public as October winds down. Wall Street hates uncertainty.
Variety lovers will be in their element this week. Insurance, home loans, health care, technology, retail, mining and a big Chinese wealth management company are all in the IPO mix.
Blank-check companies, also known as special-purpose acquisition companies (SPACs), just keep coming.
Stats worth noting: The IPO Scorecard shows 175 IPOs have been priced so far this year; that total does not include 155 SPACs (unit offerings) for the year to date, IPOScoop records show.
Let’s take a look at this week’s IPO Calendar, organized by pricing and trading dates.
Tuesday night pricing for Wednesday trading:
Root is viewed as “the deal of the week.” It is among four IPOs on tap for pricing Tuesday night with a trading debut on Wednesday. Two SPACs are also set for Tuesday night pricing and Wednesday trading.
Atlas Crest Investment Corp. (ACICU proposed) is a blank-check or special-purpose acquisition company (SPAC) sponsored by an affiliate of Moelis & Co., a global financial advisor. This is an IPO of 50 million units at $10 each to trade on the New York Stock Exchange.
Biodesix, Inc. (BDSX proposed) makes four diagnostic blood tests focused on better detection and treatment of lung cancer. This is an IPO of 4.2 million shares at $17 to $19 each to trade on the NASDAQ. Morgan Stanley and William Blair are the joint lead managers.
Gatos Silver Inc. (GATO proposed) is a U.S.-based silver producer running a mine in the Los Gatos region of Mexico. This is an IPO of 18.8 million shares at $7.00 to $9.00 each to trade on the NYSE. The company has applied to list its stock on both the NYSE and the Toronto Stock Exchange.
MediaAlpha, Inc. (MAX proposed) runs a technology platform that helps leading insurance carriers find customers. This is an IPO of 9.3 million shares at $18 to $20 each to trade on the
Roman DBDR Tech Acquisition Corp. (DBDRU proposed) is a SPAC focused on technology, media and telecom (TMT) targets. This is an IPO of 27.5 million units at $10 each to trade on the NASDAQ.
Root.Inc. (ROOT proposed) intends to disrupt the U.S. auto insurance industry with its smartphone app that monitors a driver’s habits and, as a result, prices that driver’s auto insurance policy more fairly than the risk-based model of pricing premiums, the company says. This is an IPO of 24.2 million shares at $22 to $25 each to trade on the NASDAQ.
Wednesday night pricing for Thursday trading:
Allegro Microsystems, Inc. (ALGM proposed) says it is the No. 1 supplier of magnetic sensor ICs (integrated circuits) to the automotive industry. This is an IPO of 25 million shares at $12 to $14 to trade on the NASDAQ.
AmeriHome, Inc. (AHM proposed) is backed by private equity behemoth, Apollo. AmeriHome, a home mortgage company founded in 2013, says it has been profitable for 21 consecutive quarters. This is an IPO of 14.7 million shares at $16 to $18 each to trade on the NYSE.
Caliber Home Loans, Inc. (HOMS proposed) is owned by Lone Star, a private equity fund. Caliber Home Loans says it is the second-largest independent mortgage originator, based on purchase volume, according to the IMF. This is an IPO of 23.0 million shares at $14 to $16 each to trade on the NYSE.
Galecto, Inc. (GLTO proposed) is a clinical-stage biopharmaceutical company developing a drug to treat idiopathic pulmonary fibrosis (IPF). This is an IPO of 5.7 million shares at $14 to $16 each to trade on the NASDAQ.
Leslie’s, Inc. (LESL proposed) says it is “the largest and most trusted direct-to-consumer brand in the nearly $11 billion United States pool and spa care industry, serving residential, professional and commercial consumers.” This is an IPO of 40 million shares at $14 to $16 each to trade on the NASDAQ.
Mavenir Private Holdings II Ltd. (Mavenir plc) (MVNR proposed) provides software to drive the digital transformation of mobile networks. This is an IPO of 13.6 million shares at $20 to $24 each to trade on the NASDAQ.
Thursday night pricing for Friday trading:
Inhibikase Therapeutics (IKT proposed) is a clinical biopharmaceutical company that’s developing drugs to treat Parkinsons’s disease. This is an IPO of 2.3 million shares at $10 to $12 each to trade on the NASDAQ.
Lufax Holding ltd. (LU proposed) is a Ping An-backed wealth management company in China. This is an IPO of 175.0 million American Depositary Shares (ADS) at $11.50 to $13.50 each to trade on the NYSE.
(For more information about these companies, please see the IPO profiles on IPOScoop.com.)
Week of Nov. 2
The IPO Calendar is blank so far for next week, when the U.S. presidential election on Tuesday, Nov. 3rd, is the main event. But that could change in the blink of an eye when the SEC’s filing window opens again for business later on Monday morning, Oct. 26. More names could pop onto this week’s IPO roster as well.
(Note: Never trade on proposed symbols. You might wind up owning something on the OTC Bulletin Board.)
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.
Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums), is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.