11 IPOs, 15 SPACs, and three Direct Listings went public in the week of September 28, 2020, making it the busiest week ever.
Some hot IPOs performed strong led by Pulmonx (NASDAQ: LUNG)) which skyrocket 107 % in its first trading day and close its first week at 121% above its IPO price.
Mission Produce (NASDAQ: AVO), an avocados distributor raised $96 million at a $832 million market cap and finished up 4%. The Oxnard, California-based company was founded in 1983 and booked $887 million in sales for the 12 months ended July 31, 2020.
There are three Chinese issuers went public last week.
Chindata Group Holdings Limited (NASDAQ: CD), a carrier-neutral hyperscale data center solution provider raised $540 million at a $4.85 billion market cap and finished up 4%. The Beijing, China-based company was founded in 2015 and booked $211 million in pro forma sales for the 12 months ended June 30, 2020.
Boqii (NYSE: BQ), the largest pet-focused platform in China slumped 28% on its first day of trading on October 2, 2020 and closed at $7.20, giving the company a market cap of approximately $908 million. The Shanghai, China-based company was founded in 2008 and booked $121 million in revenue for the 12 months ended June 30, 2020.
Lixiang Education (NASDAQ: LXEH), a private education service provider in China slumped 19% on its first day of trading on October 2, 2020 and closed at $7.5, giving the company a market cap of approximately $123 million. The Zhejiang, China-based company was founded in 2001 and booked $23 million in revenue for the 12 months ended June 30, 2020.
The past week welcomed three Direct Listings, they are Data Analytics unicorn Palantir (NYSE: PLTR), work management SaaS Asana (NYSE: ASAN) and SMB services provider Thryv Holdings (NASDAQ: THRY). They pursue direct listing instead of a traditional IPO, meaning the companies do not issue new shares and is instead allowing existing shareholders to sell stock to new investors.
The 15 SPACs went public this past week are:
1. Altimeter Growth Corp. (tech sector SPAC)
2. Vesper Healthcare Acq. (healthcare sector SPAC)
3. Qell Acquisition (sustainable tech business SPAC)
4. CCRI I Acquisition (climate change-fighting sectors SPAC)
5. FG New America Acquisition (insurtech and fintech businesses SPAC)
6. Sports Entertainment Acquisition (sports and entertainment sectors SPAC)
7. Vy Global Growth (technology sector SPAC)
8. ION Acquisition 1 (Israeli business SPAC)
9. Avanti Acquisition (European business SPAC)
10. VG Acquisition Corp. (consumer-facing businesses in the US and Western Europe SPAC)
11. Apollo Strategic Growth (growth-oriented businesses SPAC)
12. Atlantic Avenue Acq. (business and consumer-related sectors SPAC)
13. IG Acquisition (gaming and hospitality businesses SPAC)
14. AEA-Bridges Impact Corp. (impact and ESG businesses SPAC)
15. Recharge Acquisition (no selected target industry)
Together, all the SPACs raised a total of $5.7 billion.
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