The IPO Buzz: September’s Big Finale

September’s IPO market is going out with a bang. The calendar has 13 new issues looking to raise over $1.1 billion this week.  If everything gets out the door, that will increase September 2018’s traffic to 26 IPOs. That will be the busiest September since 1999 when 43 IPOs were priced, according to the U.S. Securities and Exchange Commission (SEC) files.

Consider the following: Six IPOs were priced last week – and five of the six got done above their original filing ranges. Those six deals scored an average opening-day gain of 39.9 percent. More good news: The average aftermarket performance was up 33.8 percent for all 141 IPOs priced this year.

Traffic was heavy at the SEC’s filing window last week. Bankers rushed to the window to seed the future IPO calendar. The SEC logged in 21 new IPOs or updated amendments to previous filings.

This week, 13 companies are scheduled to go public. The lineup includes a big Silicon Valley name – SVMK, the parent of SurveyMonkey. Let’s look at the deals, organized by pricing and trading dates.

Monday evening for Tuesday morning:

Viomi Technology (VIOT proposed), based in Guangdong, China, through its subsidiaries, offers Internet-of-things-enabled smart home products to its customers in China.

Tuesday evening for Wednesday morning:

Arco Platform (ARCE proposed), based in Sao Paolo, Brazil, provides educational content in printed and digital formats to more than 405,000 domestic students from kindergarten through the 12th grade in more than 1,100 private schools.

Capital Bancorp (CBNK proposed), based in Rockville, Maryland, is a bank holding company. Its subsidiary, the 19-year-old Capital Bank, operates five commercial banking branches in the Washington, D.C., and metropolitan Baltimore area. The company also has five mortgage offices, two loan production offices, a limited service branch and three corporate and operations facilities in the area.

Entasis Therapeutics Holdings (ETTX proposed), based in Waltham, Massachusetts, is a clinical-stage biopharmaceutical company focused on developing drugs to treat multi-drug-resistant infections. The company’s targeted-design platform was acquired as part of its spinoff from AstraZeneca in 2015.

SVMK (SurveyMonkey) (SVMK proposed), based in San Mateo, California, is a leading global provider of survey software that lets companies and organizations poll their customers, their employees and the markets they serve. SurveyMonkey, founded in 1999, says it “has changed the way people gather feedback by making it easy for anyone to create their own online surveys.”

Wednesday evening for Thursday morning:

Arvinas (ARVN proposed), based in New Haven, Connecticut, is a biopharmaceutical company that is using its proprietary technology platform to develop therapies to degrade and remove disease-causing proteins. Its product pipeline includes therapies targeting metastatic prostate cancer and breast cancer, the prospectus says.

LAIX (LAIX proposed), based in Shanghai, says it is “a leading AI company in China that creates and delivers products and services to popularize English learning.” The company notes that it was named on the list of “The 100 Most Promising Private Artificial Intelligence Companies in the World” for 2018 by CB Insights.

Ra Medical Systems (RMED proposed), based in Carlsbad, California, is a commercial-stage medical device company. Ra Medical developed the Pharos excimer laser system to treat psoriasis and other chronic skin diseases. The company developed the DABRA laser system and disposable catheter to treat vascular blockages in patients with peripheral artery disease.

Sutro Biopharma (STRO proposed), based in South San Francisco, is a clinical-stage drug discovery, development and manufacturing company focused on leveraging its proprietary integrated cell-free protein synthesis platform, XpressCF, to create next-generation protein therapeutics to treat cancer and autoimmune diseases.

Urovant Sciences (UROV proposed), based in London, is a clinical-stage biopharmaceutical company focused on developing and commercializing innovative therapies for urologic conditions such as overactive bladder.

Thursday evening for Friday morning:

CooTek (CTK proposed), based in Shanghai, says it is a fast-growing mobile internet company. Its leading product, TouchPal Smart Input, is an intelligent input method (a keyboard app) for mobile devices that uses artificial intelligence.

GritStone Oncology (GRTS proposed), based in Emeryville, California, is an immune-oncology company developing tumor-specific cancer immunotherapies to fight multiple types of cancer. The company says: “Our approach harnesses the natural power of a patient’s own immune system to recognize short tumor-specific peptide sequences presented on cancer cells, referred to as tumor-specific neoantigens, or TSNA, in order to destroy tumor cells.”

YayYo (YAYO proposed), based in Beverly Hills, California, is a holding company focused on the transportation and ridesharing industry.

(For more information about these companies on the IPO calendar, please check the profiles found on the website.)

October’s First Week

There are only two IPOs on tap for the week of Oct. 1st. But anything can happen when the SEC’s filing window opens for business again on Monday morning, Sept. 24.

Stay tuned.

Disclosure: Neither the author nor anyone else on the staff has a position in any stocks mentioned, nor do we trade or invest in IPOs. The author and staff do not issue advice, recommendations or opinion.