Category: IPO Watch

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IPO Watch

Industrial SPAC Kensington Capital Acquisition V files for a $260 million IPO

Each warrant authorises the holder to purchase one share of the Company’s Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable. 

The offering was expected to close on June 30, 2020, subject to customary closing conditions.

Kensington Capital Acquisition V, a blank check business run by Kensington Capital’s founder and focused on industrials, filed with the SEC on Monday to raise up to $260 million.

The business, situated in Westbury, New York, hopes to generate $260 million by selling 26 million units at $10 each. One share of common stock and one-fifth of a warrant, exercisable at $11.50, are included in each unit. Kensington Capital Acquisition V would have a market value of $325 million at the anticipated deal size.

Company Profile

Kensington Capital Acquisition V was founded in 2021 and plans to list on the NYSE under the symbol KCGI.U. The company filed confidentially on June 10, 2021. UBS Investment Bank is the sole bookrunner on the deal. Kensington Capital Acquisition Corp. II operates as a blank check company. The Company aims to acquire one and more businesses and assets, via a merger, capital stock exchange, asset acquisition, stock purchase, and reorganization.

(Source: NASDAQ.com)

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ipo IPO Watch

IMV Prices 14.3 M Units of Public Offering at $1.75/Unit

One common share and three-quarters of a common share purchase warrant are included in each Unit. Each Warrant authorises the holder to purchase one common share at a price of US$2.10 per common share for a period of 60 months following the closure of the Offering, subject to adjustment in certain conditions.

The Offering is scheduled to close on or around July 20, 2021, with the common shares underlying the Units and Warrants proposed for listing on the TSX and Nasdaq.

The Corporation plans to use the net proceeds of the Offering to continue clinical development of maveropepimut-S (DPX-Survivac) in DLBCL, breast cancer, ovarian cancer, bladder cancer, and microsatellite instability high (MSI-H), as well as to begin clinical development of a new product, DPX-SurMAGE, in bladder cancer, continuing to develop its patented drug delivery technology (DPX), as well as for other corporate reasons.

Company Profile

Albireo is a clinical-stage biopharmaceutical company focused on the development of novel bile acid modulators to treat rare pediatric and adult liver diseases, and other adult liver diseases and disorders. We have deep expertise in bile acid biology and a pipeline of clinical and nonclinical programs. Our parent company, Albireo Pharma, Inc., is located in Boston, Massachusetts and our key operating subsidiary, Albireo AB, is located in Gothenburg, Sweden. We were spun out from AstraZeneca in 2008.

(Source:  RTT News)

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IPO Watch

The Fresh Market Files for an IPO Price estimated at $250 Million

In March 2011, the company went public, raising $290 million, before being acquired and taken private by Apollo Global Management for $1.4 billion in 2016.

On March 12, 2021, The Fresh Market filed a confidential filing. The deal’s joint book runners are Credit Suisse, BofA Securities, Barclays, Deutsche Bank, RBC Capital Markets, BMO Capital Markets, Guggenheim Securities, and Apollo Global Securities. There were no pricing details provided.

Company Profile

The Fresh Market offers high-quality, fresh goods and hard-to-find items in a small, intimate store with great cleanliness and high-touch guest care. It is an Apollo-backed fresh food supermarket with over 150 locations in 22 states.

(Source: NASDAQ.com)

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Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

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IPO Watch

EVmo a ridesharing rental service to raise IPO to $12 Million

The Beverly Hills, California-based company was created in 2016 and has revenue of $8 million for the year ending March 31, 2021. It intends to trade under the symbol “EVMO” on the NASDAQ. The deal’s sole book runner is Think Equity. There were no pricing details provided.

Company Profile

EVmo, Inc. connects rideshare drivers in need of a suitable car with rideshare firms that rely on attracting and retaining drivers. It operates primarily in Rideshare Car Rentals and Distinct Cars, two wholly-owned subsidiaries. Rideshare has an online reservation system. Customers who are drivers in the ridesharing and delivery gig industries can rent a fleet of passenger vehicles and transit vans for usage in the last-mile logistical space from Distinct Cars, which also provides them with insurance coverage and issues them insurance cards in their own names.

(Source: NASDAQ)

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IPO Watch

B2B software SPAC Bannix Acquisition cuts deal size by 50% ahead of $50 million IPO

One share of common stock, one right to earn one-tenth of a share upon completion of an initial business combination, and one warrant, exercisable at $11.50, are included in each unit.

Bannix Acquisition will raise -50% less money under the new deal size than it had planned.

Company Profile

Bannix Acquisition Corp. is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. We intend to focus on B2B enterprise software companies, particularly those operating in the Customer Engagement space within the telecom, retail and financial services sectors. We will target businesses located in North America and Western Europe, ideally those with a recurring revenue model and an overall transaction value of at least $400 million.

(Source: NASDAQ.com)

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ipo IPO Watch

Terms out for Clarity’s $358 million IPO

Oncology imaging technologies and medicines are the focus of Clarity. It’s working on Targeted Copper Theranostic (TCT) products, which allow copper to be utilised in the diagnosis and treatment of malignancies like prostate and breast cancer, as well as uncommon and orphan diseases like neuroblastoma, which arises from immature nerve cells in children.

It will undoubtedly be compared to Telix, the only other publicly traded radiopharmaceutical business, which has gained 38.4% year to date and has a market capitalization of $1.6 billion.

Clarity is chaired by Alan Taylor, a former Inteq consultant who handled a number of Australian listings, and is run by Colin Biggin, a former Algeta executive. Major supporters such as Australian Unity and Sydney-based investment manager Firetrail Investments joined KKR-backed GenesisCare in a $25 million pre-IPO funding round last year.

Company Profile

Clarity is a clinical stage radiopharmaceutical company developing next-generation theranostic (therapy and imaging) products, based on its platform SAR Technology. The SAR Technology is ideally suited for use with copper isotopes, enabling superior imaging and therapeutic characteristics of radiopharmaceutical products and addressing the current manufacturing and logistical limitations in the growth of the radiopharmaceutical sector in oncology.

(Source: AFR News)

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IPO Watch

SPAC CleanTech Acquisitions IPO Valued At $150 Million.

CleanTech Acquisition raised $150 million by issuing 15 million units at $10 by targeting the CleanTech and ClimateTech sectors. One share of common stock, one right to obtain one-twentieth of a share upon completion of an initial business combination, and one-half of a warrant, exercisable at $11.50, are included in each unit.

CleanTech Acquisition intends to list on the New York Stock Exchange under the ticker name CLAQU. Chardan Capital Markets acted as the deal’s sole book runner.

Company Profile

Eli Spiro is the CEO and Director of the company who is the co-founder and CEO of boutique investment banking firm Axxcess Capital Partners, and Chairman Jon Najarian who is the co-founder of individual investing education platform Market Rebellion, both leads the company.

It is an internet platform that connects businesses with potential customers, strategic partners, and investors. The company provides i3, an online platform that allows businesses to build and manage their pipelines, market their technology interests to start-ups around the world, and gain insight into various industries, as well as advisory services related to product and service design for CleanTech businesses.

(Source: NASDAQ.com)

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Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

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ipo IPO Watch

Luxury Social Club Operator Membership Collective prices IPO at $14 low end

The Membership Collective Group sells subscriptions to a variety of restaurants and social groups across the world.

Soho Houses are the company’s core locations, which are designed to be collaborative, creative spaces for writers, artists, performers, entrepreneurs, directors, designers, and producers.

A group of influential creatives and innovators who represent the local area selects the members of each Soho House.

Other locations offered by Membership Collective Group include the work-oriented Soho Works, The Ned in London, and Scorpios Beach Club in Mykonos.

Company Profile

Membership Collective Group Inc. is a global membership platform. The Company offers platform of physical and digital spaces that connects a diverse group of members to work, socialize, and flourish all over the world. Membership Collective Group serves customers worldwide.

(Source: NASDAQ)

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IPO Watch

Paytm Money will Allow you to reserve IPO allotments in advance

85215903 - attractive businessman using mobile phone while having lunch

A purchase request to the brokerage is known as a pre-booking. Sridhar added that on the day the offer goes live on the exchange, the brokerage will buy allotments on behalf of all the requests it has received from investors.

“Because we won’t be collecting money during the pre-order, it’s not the same as booking a slot ahead of market hours,” he explained, adding that depending on the size, demand, and premium of the IPO, a request made through the feature may or may not turn into an allocation.

Investors will have to clear a payment request on their Unified Payments Interface (UPI) app within 24 hours of receiving an allocation using the new functionality.

Over the last few months, there has been a boom in interest in IPOs, and we have observed examples where customers have been unable to apply due to difficulties such as tight timelines during market hours and demand-driven processing delays in the markets.

For the forthcoming Zomato IPO on July 14-16, the functionality will first be available on the Paytm Money app.

Company Profile

Paytm is an Indian digital payment system and financial technology company, based in Noida. Paytm is currently available in 11 Indian languages and offers online use-cases like mobile recharges, utility bill payments, travel, movies, and events bookings as well as in-store payments at grocery stores, fruits and vegetable shops, restaurants, parking, tolls, pharmacies and educational institutions with the Paytm QR code.

(Source: The Economics Time)

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Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.

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ipo IPO Watch

The IPO valuation of Rs 60,000 crore for Zomato has created a lot of buzz.

People have opposing viewpoints. Despite its losses, some believe that a tech-enabled corporation should be valued differently than a typical company. Some see the IPO as a way for venture capital and private equity investors to unload their risk to retail investors, while others anticipate Indian food tech businesses will match international peers like DoorDash’s valuations to a major extent.

Zomato’s IPO will take place from July 14 to July 16, with a price range of Rs 72-76.

Zomato’s IPO will take place from July 14 to July 16, with a price range of Rs 72-76. The increased offer size is estimated to be around Rs 9,375 crore. Zomato’s IPO valuation, at around Rs 60,000 crore, is roughly equal to the market value of all of the other quick service restaurants (QSRs) listed on Indian stock exchanges. It is also worth as much as the combined market value of all of the country’s listed hospitality chains. This second category includes behemoths such as Indian Hotels, which operates the world-famous Taj hotel brand in India and overseas and also Oberoi Hotels.

In India, there are around 20 listed hospitality companies with a combined market capitalisation of Rs 44,000 crore and a half-dozen listed quick service restaurants with a combined market value of Rs 60,712 crore. After the coronavirus crisis, Jubilant (which operates a Domino’s Pizza India franchisee), Westlife (McDonald’s), and Indian Hotels (which runs the Qmin gourmet food ordering app) all introduced contactless delivery services.

Jubilant Foods, which claims that over 90% of Domino’s deliveries are now related to internet orders, is the most valuable QSR stock at Rs 41,007 crore, while Indian Hotels (Taj) is the most valuable hospitality firm at Rs 17,589 crore. According to Indian Hotels chairman N Chandrasekaran, who spoke at the company’s annual shareholder meeting last month, Qmin, which Taj debuted last July, is expanding its reach to 25 cities from 16 cities.

Source: economictimes.indiatimes

General Advice Warning

Any advice/ information provided is general in nature only and does not take into account the personal financial situation, objectives or needs of any particular person.