The IPO Market Is On Fire With Another Record Week Ahead

After another week of record activity, the IPO market will be even hotter with 25 scheduled IPOs this week. If all scheduled IPOs begin trading as expected, this will be the busiest week for the US IPO market in more than two decades.

In its eagerly awaited public debut, commission-free retail brokerage platform Robinhood Markets HOOD plans to raise $2.2 billion, aiming for a $36.8 billion market cap. With over 18 million MAUs and triple-digit revenue growth in the first quarter of the year, sustainability is questioned as the platform is dependent on trading volumes.

Vehicle low-voltage battery maker profitable on an EBIT basis, Clarios International BTRY plans to raise $1.7 billion at a $9.7 billion market cap. After negative revenue growth last year due to the pandemic, revenue growth has accelerated during the first half of 2021.

A profitable cloud-based programmatic digital advertising platform that provides monetization services to about 3,100 publishers, Teads TEAD plans to raise $751 million at a $4.6 billion market cap.

Provider of an education platform that enables teachers to manage their virtual classrooms such as collective work and grade assignments, PowerSchool Holdings PWSC plans to raise $750 million at a $3.7 billion market cap. It served 12,000 customers across 90 countries, becoming profitable on a net income basis during the first half of 2021.

After withdrawing from its public debut in 2018, a leading, profitable, and slow-growing fruit and vegetable company offering 300 products sourced from over 30 countries to over 80 countries across the globe, Dole DOLE plans to raise $559 million this time around, at a $2 billion market cap.

Language learning platform that educated over 300 million users, Duolingo DUOL plans to raise $460 million at a $4.1 billion market cap. The pandemic fueled triple-digit growth last year.

Manufacturer of premium grills that can be controlled via an app, Traeger COOK plans to raise $400 million at a $2.2 billion market cap.

Growing but unprofitable Riskified RSKD provides e-commerce fraud protection for enterprises, plans to raise $333 million on July 29th. FCF was positive over the first quarter of 2021.

Financial software provider for mid-market community banks and credit unions, MeridianLink MLNK, plans to raise $300 million at a $2.1 billion market cap. The nature of its business is cyclical, but strong mortgage activity enabled double-digit organic growth.

Smart home integration system that demonstrated solid growth and profitability on EBIT basis, Snap One Holdings SNPO, plans to raise $270 million at a $1.5 billion market cap.

Specialty funding solutions provider for projects of significant social and economic importance to local communities in the US, Preston Hollow Community Capital PHCC, plans to raise $200 million at a $2.3 billion market cap.

Oncology biotech Nuvalent NUVL plans to raise $151 million at an $835 million market cap. Its lead candidate treats ROS1-positive non-small cell lung cancer and other advanced solid tumors, with trials expected to begin by year-end.

AIM-listed cell engineering platform MaxCyte MXCT plans to raise $150 million at a $1.3 billion market cap. Its flagship product can be used across the rapidly expanding cell therapy sector.

A clinical stage vaccine biotech Icosavax ICVX plans to raise $150 million at a $590 million market cap. This biotech is focused on developing vaccines against infectious respiratory diseases using its virus-like particle platform technology, with its most advanced candidate aimed at SARS-CoV-2 currently in a Phase 1/2 trial.

Genetic and non-genetic heart disease biotech Tenaya Therapeutics TNYA plans to raise $150 million at a $585 million market cap. It has three programs: gene therapy, cellular regeneration, and precision medicine. INDs submission is planned for 2022.

Gene therapy biotech in preclinical stage spanning across regenerative medicine and multigenic diseases, Omega Therapeutics OMGA plans to raise $126 million at an $866 million market cap.

RxSight RXST is developing the first and only commercially available intraocular lens technology to enables doctors to customize and optimize visual acuity after a patient undergoes cataract surgery. It plans to raise $125 million, aiming for a $477 million market cap.

Oncology biotech Immuneering IMRX plans to raise $105 million at a $391 million market cap. Its flagship program is aimed to treat advanced solid tumor patients harboring RAS mutant tumors. The company plans to submit its first IND next year and anticipates filings at least two additional INDs in 2023 and 2024.

Rani Therapeutics  RANI aims to replace subcutaneous or IV injections with oral dosing plans to raise $100 million at a $724 million market cap. The RaniPill capsule is a novel, proprietary, and patented platform technology.

A biotech focused on treating cancer, Candel Therapeutics CADL hopes to raise $85 million. Its most advanced candidate is currently in a Phase 3 trial for newly diagnosed localized prostate cancer with an intermediate or high risk for progression.

Rare disease clinical-stage biotech Rallybio RLYB plans to raise $81 million at a $465 million market cap. Its lead program aimed to treat fetal and neonatal alloimmune thrombocytopenia is currently in Phase 1/2 trial.

Ocean Biomedical OCEA is pursuing preclinical programs in oncology, fibrosis, infectious disease, and inflammation that have been licensed from Brown University, Stanford University, and Rhode Island Hospital aims to raise $50 million.

After postponing its public debut last November, IN8bio INAB plans to raise $44 million at a $215 million market cap. This Phase 1 biotech is developing cell therapies to treat solid tumors.

A profitable Chinese organic fertilizer producer Muliang Viagoo MULG is aiming for a market cap of $194 million, hoping to raise $40 million.

Biotech aimed at curing female cancer, Context Therapeutics CNTX plans to raise $20 million at a $93 million market cap. Its lead candidate is currently in Phase 2 trials for ovarian and endometrial cancer.

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