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A Preview Of This Week's IPOs

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This week's IPOs, with their expectation to raise $1.7 billion, might not seem as big as last week, when six IPOs and two SPACs altogether expected to raise $7.2 billion. But there are still some promising names to make it interesting.

Last week, we had big names like Airbnb, Inc. (NASDAQ: ABNB), DoorDash Inc (NYSE: DASH), as well as an AI software provider C3.ai (NYSE: AI), Certara (NASDAQ: CERT), a leader in bio-simulation, Hydrofarm Holdings Group, Inc. (NASDAQ: HYFM) and an AdTech platform PubMatic, Inc. (NASDAQ: PUBM). This week, we are expecting four IPOs and one SPAC, the highlight being the e-commerce platform Wish (NASDAQ: WISH), Upstart (NASDAQ: UPST), a lending platform, Midwest Holding (NASDAQ: MDWT), biotech BioAtla (NASDAQ: BCAB), and blank check company Dune Acquisition (NASDAQ: DUNEU).

Wish

E-commerce marketplace platform Wish plans to raise $1.1 billion at a $16.4 billion market cap. According to the filing, the company will sell 46 million shares priced between $22 and $24 each. This e-commerce platform mostly connects China-based merchants with customers from Europe and North America who value bargaining deals. Although the business is accelerating due to a big market opportunity, counterfeit and fraudulent goods are keeping the company unprofitable.

Upstart

A cloud-based artificial intelligence lending platform Upstart, located in California, plans to raise $252 million at a $1.9 billion market cap. According to the company, the platform offers a better way to predict credit risk through its AI-powered lending models. During the first nine months of 2020, Upstart generated revenues of $146.71 million with net income of $4.96 million, which is much better than the same period last year when the company reported a loss of $6.52 million.

BioAtla

A Phase 2 biotech, BioAtla is developing antibody therapies for solid tumor cancers and plans to raise $150 million at a $527 million market cap by offering 9.4 million shares at a price range of $15 to $17. This biotech, based in San Diego, is developing a novel class of specific and selective antibody therapies. Its two latest candidates are currently in Phase 2 trials for multiple cancer indications, expecting to get the interim data in 2021.

Midwest Holding

Midwest Holding, the company which underwrites and markets life insurance products in the U.S., is already listed on the OTCQB. The OTCQB is the middle-tier of OTC markets which lists developing and early-stage companies. The company filed to raise up to $50 million in an IPO on the Nasdaq. It offers financial services that rely on its tech platform and capabilities for reinsurance, aiming to develop and distribute insurance products through third-party independent marketing organizations (IMOs).

Dune Acquisition

This week's SPAC, a blank check company Dune Acquisition, plans to raise $130 million. The company has a specific target in software as a service (SaaS) businesses.

This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full disclosure. IAM Newswire does not hold any position in the mentioned companies. Press Releases – If you are looking for full Press release distribution contact: press@iamnewswire.com Contributors – IAM Newswire accepts pitches. If you're interested in becoming an IAM journalist contact: contributors@iamnewswire.com

The post This Week's IPOs appeared first on IAM Newswire.

 

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