IPO Preview: WalkMe, Atai Life Sciences Highlight Week Of Many Offerings

This week’s IPO lineup could feature a double digit number of companies hitting the public. Here is a look at some of the largest and most high profile companies going public this week.

AMTD Digital: Asian digital solutions platform AMTD Digital HKD offers risk solutions and digital insurance technology for partners. The company had revenue of $21.6 million in fiscal 2020 and $18.8 million through the first nine months of the current fiscal year. The company plans to sell 16 million ADSs at a price point of $6.80 to $8.20.

Molecular Partners: Clinical stage biotechnology company Molecular Partners MOLN is focused on using its pioneering DARPin product in categories including infectious diseases, oncology and ophthalmology. The company partnered with Novartis NVS in 2020, Amgen Inc AMGN in 2018 and AbbVie Inc ABBV in 2011. Novartis owns 6% of the company. Molecular Partners plans to sell 3 million ADS.

Related Link: IPO Preview: Marqeta, TaskUs, Monday.com Lead Busy Week With 8 Planned Public Listings 

WalkMe: With a mission to change the way humans interact with technology, WalkMe WKME offers solutions for organizations. The company has many well-known companies as customers including Nestle and Veolia, two large European companies listed as case studies in the filing.

WalkMe had revenue of $148 million in 2020 and revenue of $42.7 million in the first quarter of 2021. The company’s revenue was up 34% year-over-year in the last twelve months. The company has 368 customers that represent $100,000 or more in annual revenue and 22 customers that represent $1 million or more in annual revenue. WalkMe plans on selling 9.25 million shares at a price point of $29 to $32.

Convey Holding: Health care company Convey Holding CNVY partners with eight of the 10 largest Medicare Advantage companies in the U.S. The company had 2.5 million Medicare Advantage and 1.6 million Prescription Drug Plan members in 2020. Revenue in 2020 for the company was $282.9 million. First-quarter 2021 revenue was $82.6 million for the company. Convey Holding plans to sell 13.3 million shares at a price point of $14 to $16.

Angel Oak Mortgage: Real estate finance company Angel Oak Mortgage AOMR  acquires and invests in first lien non-QM Loans and other mortgage assets in the U.S. The company had assets of $534.9 million at the end of the first quarter of 2021. The company has elected to be taxed as a REIT. Angel Oak Mortgage is seeking to sell 8.1 million shares at a price point of $20 to $21.

Lyell Immunopharma: Seeking to disrupt the T-cell reprogramming market, Lyell ImmunoPharma LYEL intends to have four INDs submitted by the end of 2022. The company partnered with GlaxoSmithKline GSK in 2019 in a deal good for up to $400 million in additional milestones after a $45-million upfront payment.

GlaxoSmithKline owns 14% of Lyell and Bristol-MyersSquibb BMY owned Celgene owns 5% of the company. Lyell is planning to sell 25 million shares at a price point of $16 to $18.

Verve Therapeutics: Genetic medicine company Verve Therapeutics VERV is focused on cardiovascular disease. The company plans to sell 11.8 million shares at a price point of $16 to $18.

Atai Life Sciences: Backed by Palantir Technologies PLTR and Paypal Holdings PYPL founder Peter Thiel, Atai Life Sciences ATAI could be one of the high profile IPOs of the week.

The company is developing treatment options for mental health disorders. The company has 10 programs in its pipeline and six enabling technologies. The company is planning on selling 14.3 million shares at a price point of $13 to $15.

AiHui Shou International: Pre-owned consumer electronics reseller AiHuiShou International RERE seeks to give a second life to all idle goods.

The company’s three business lines — AHS Recycle, PJUT Marketplace and PaiPai Marketplace — help the company as the market leader in China with a market share of 6.6%. The company had revenue of $741.5 million in 2020 and $231.1 million in the first quarter of 2021, up 119% year-over-year. JD.com JD will own 32.3% of the company after the IPO. The company plans on selling 16.2 million ADSs at a price point of $13 to $15.

Posted In: Medicare AdvantageMolecular PartnersPeter ThielWalkMeNewsPreviewsIPOsTrading Ideas

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