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IPO Preview: UiPath Inc, KnowBe4, Zymergen, Latham Holdings Highlight Busy Week Of Offerings

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IPO Preview: UiPath Inc, KnowBe4, Zymergen, Latham Holdings Highlight Busy Week Of Offerings

This week’s offerings don’t have quite the same high profile as last week's highly anticipated IPO of Coinbase Global (NASDAQ: COIN). Nevertheless, there are several exciting IPOs that investors should consider this week, including UiPath and Latham Holdings.

Here is a look at the expected IPO pricings for the week of April 19.

DoubleVerify Holdings: Digital media measurement and analytics company DoubleVerify Holdings (NYSE: DV) plans to sell 13.3 million shares at a price point of $24 to $27.

The company makes security software for digital advertising and claims to have over 1,000 advertisers and publishers as partners, and more than 45 customers that each account for $1 million in annual revenue for DoubleVerify.

The company had revenue of $244 million in fiscal 2020, a year-over-year increase of 34%.

NeuroPace: Commercial-stage medical device company NeuroPace (NASDAQ: NPCE) says it has the first and only commercially-available, brain-responsive system to help fight seizures.

The company’s target market is customers who have drug-resistant epilepsy. Over 3,000 patients were served by the company through 2020. Neuropace had revenue of $10 million in fiscal 2020 and is guiding for fiscal 2021 revenue of between $11.1 million and $11.3 million.

Over $28 billion is spent annually on epilepsy care in the United States. The company plans to sell 5.3 million shares at a price point of $15 to $17.

Related Link: IPO Calendar 

UiPath: The biggest IPO of the week is set to be automation company UiPath Inc (NYSE: PATH), with a planned offering of 21.3 million shares at a price point of $43 to $50.

The company “makes software robots so people don’t have to be robots.” The company had annual recurring revenue of $580 million in the fiscal year ended January 31, 2021, for a growth rate of 65%. UiPath says it has over 7,900 customers, with over 1,000 of them paying $100,000 or more annually to the company.

The company is targeting a market opportunity of $65 billion and believes its open architecture and end-to-end platform set it apart from competitors.

SkyWater Technology: Pure-play technology foundry SkyWater Technology (NASDAQ: SKYT) offers semiconductor development and manufacturing services, targeting customers in markets like advanced computing, aerospace, defense, automotive and IoT.

The company has 35 customers in its advanced technology services including L3Harris and Microsoft Corporation (NASDAQ: MSFT). SkyWater was divested from Cypress Semiconductor in 2017. The company had revenue of $140.4 million in 2020.

SkyWater plans to sell 5.8 million shares at a price point of $12 to $14.

Related Link: 10 IPOs To Watch Out For In 2021 Including Petco, Poshmark, Bumble, Coinbase And More

KnowBe4: Security platform KnowBe4 Inc (NASDAQ: KNBE) is seeking to sell 11.8 million shares at a price point of $16 to $18.

The company serves over 37,000 customers globally in markets worth $15 billion. The company had 45% revenue growth and $198 million in annual recurring revenue last year. It plans to rapidly grow its international operations, which made up 11.9% of revenue in fiscal 2020.

Zymergen: "Biofacturing" company Zymergen (NASDAQ: ZY) plans to sell 13.6 million shares at a price of $28 to $31.

The company is working on bio-based products including films that could be used in rollable mobile tablet devices.

The company’s first product, Hyaline, was launched in December 2020, and an additional 10 products are in development. The biofacturing market is worth $1.2 trillion. according to the company.

Agiliti: Healthcare service provider Agiliti Inc (NYSE: AGTI) says it has a customer base of over 7,0000 networks and that 90% of U.S. acute and alternate care facilities are within a 100-mile radius of an Agiliti service center. The company is seeking to sell 26.3 million shares at a price point of $18 to $20.

Latham Group: A designer, manufacturer and marketer of in-ground residential pools in North America, Australia and New Zealand plans to go public this week.

Latham Group (NASDAQ: SWIM) plans to sell 20 million shares at a price point of $19 to $21.

The company sells fiberglass products that are more durable and use less chemicals, according to the company. Latham sold 8,700 fiberglass pools in 2020 and reported its 11th consecutive year of net sales growth.

The company had revenue of $408 million in fiscal 2020, and 59% of it came from in-ground pool sales. 

In 2018, the company shifted from a business-to-business model to business-to-consumer, making it the only pool company with a direct relationship to the homeowner, according to the company.

Fiberglass pools are still a small market in North America compared to international markets, Latham says. The company claims to have a No. 1 market-share position in all the categories it competes in for the North American market.

Photo courtesy UiPath.

 

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