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USs IPO Weekly Recap
Week of October 12, 2020

Esther Thin

Nine IPOs and five SPACs went public in the week of October 12, 2020, led by Eargo Inc (NASDAQ: EAR) which skyrocket 87% in its first trading day and close its first week at 87% above its IPO price. The San Jose, California-based company was founded in 2010 and booked $47 million in sales for the 12 months ended June 30, 2020.

Design-led lifestyle products retailer, Miniso Group Holding Limited (NYSE: MNSO) raised $608 million at a $6.5 billion market cap and finished  16% above its IPO price. The Guangzhou, China-based company was founded in 2013 and booked $1.3 billion in sales for the 12 months ended June 30, 2020. The five SPACs went public this past week are:

1.      Bridgetown Holdings ("new economy" sectors in Southeast Asia SPAC)

2.      Turmeric Acquisition (biotech industry SPAC)

3.      5 01 Acquisition (biotech industry SPAC)

4.      Spartacus Acquisition (TMT business SPAC)

5.      Motion Acquisition (telematics industry SPAC)

Together, all the SPACs raised a total of $1 billion.

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