Market Overview

The December IPO Finale Is Finally Here

The December IPO Finale Is Finally Here

The big IPO finale has officially started. There will be some "big" and eagerly awaited IPO names in December, like Roblox (NYSE: RBLX), an online gaming platform for kids, Affirm (NASDAQ: AFRM), an e-commerce platform founded by Max Levchin, co-founder of PayPal (NASDAQ: PYPL) and Wish (NASDAQ: WISH), also an e-commerce platform for selling products from Asia. But there some less known companies with significant potential whose public debut is also scheduled for December.

Kinnate Biopharma Inc.

Kinnate Biopharma Inc. (NASDAQ: KNTE) is a biopharmaceutical company focusing on research and development of molecule kinase inhibitors for curing less treatable cancers, like cancers containing gene mutations and those that have or that acquired resistance to existing therapies. One of the company's leading drug candidates is a RAF (rapidly accelerated fibrosarcoma) inhibitor for patients with lung cancer, melanoma, and other solid tumors. This San Diego, California based company has filed to sell its common stock. It plans to raise $170 million in its IPO launch. The company's investors include Foresite Capital, OrbiMed, RA Capital, and Nextech Oncology.

Proptech Investment Corp. II

PropTech Investment II (NASDAQ: PTICU) was founded in 2020 and is led by Hennessy Capital as their second blank company targeting a real estate technology business. The company wishes to improve property ownership, valuation, operations, financing, leasing, insurance, management, and other aspects of real estate asset management as well as investment management. Shares should be listed in the NASDAQ with the symbol ticker PTICU. Still, the submission of the registration is marked as confidential and out of the public domain until the company decides when it will proceed with its IPO. The company based in Wilson, NY, plans to offer 1.7 million units priced at $10 each, in order to raise $175 million in its IPO launch.

Capitol Investment Corp. V

Capitol Investment Corp. V (NYSE: CAP) announced on December 2nd its IPO of 30,000,000 units, also priced $10 each, planning to raise $300,000,000. The offering should be closed on December 4th. As this is another blank check company, its purpose is to invest in stock purchase or stock exchange, merger or asset acquisition, reorganization, or a similar business combination. A potential target is not limited to one business, nor a particular industry or location. The offering is managed by Citigroup Global Markets, Deutsche Bank Securities, and Morgan Stanley & Co as joint book-running managers.

Rodgers Silicon Valley Acquisition Corp 

Another blank check company, Rodgers Silicon Valley Acquisition Corp (NASDAQ: RSVAU) scheduled its initial public offering for December 2nd. The IPO is priced at $200 million. The company aims to focus on green energy, AI, IoT and  other areas of high-level manufacturing. The offering should come to a close by December 4th.

The big finale has kicked off

The year's been a big one for the new breed of specialized offerings, with 203 SPAC IPOs since the beginning of the year and a total raised amount of $70.1 billion. Moreover, we are still counting.

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