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US IPOs Weekly Recap
Week of October 19, 2020

Esther Thin

Five IPOs and 17 SPACs went public in the week of October 19, 2020, led by Foghorn Therapeutics (NASDAQ: FHTX) which rose 13% in its first trading day and close its first week at 13% above its IPO price.

Norwalk enterprise-grade software creator, Datto Holding (NYSE: MSP) raised $594 million at a $4.4 billion market cap and finished 7% above its IPO price. The Norwalk, Connecticut-based company was founded in 2007 and booked $493 million in sales for the 12 months ended June 30, 2020.

Leading-edge cybersecurity platform developer, McAfee Corp (NASDAQ: MCFE) stock price slumped 7% on its first day of trading and close its first week at 6% below its IPO price, giving the company a market cap of approximately $9.3 billion. The San Jose, California-based company was founded in 1987 and booked $2.7 billion in sales for the 12 months ended June 27, 2020.

The 17 SPACs went public this past week are:

1.      Helix Acquisition (healthcare SPAC)

2.      BCLS Acquisition (healthcare industry SPAC)

3.      Sarissa Capital Acq. (healthcare and biopharma SPAC)

4.      Supernova Partners Acq. (no selected target industry)

5.      Yellowstone Acquisition (financial and real estate sectors SPAC)

6.      Eucrates Biomedical Acq. (data-driven healthcare and biotech businesses SPAC)

7.      Horizon Acquisition II (media and entertainment industries SPAC)

8.      Rice Acquisition (energy transition and sustainability space SPAC)

9.      DPCM Capital (North American technology businesses SPAC)

10.   Cerberus Telecom Acq. (ICT industry SPAC)

11.   H.I.G. Acquisition (no selected target industry)

12.   Tekkorp Digital Acq. (digital media and leisure industries SPAC)

13.   Good Works Acquisition (business experiencing financial distress or restructuring SPAC)

14.   Decarbonization Plus Acq. (businesses advancing global decarbonization SPAC)

15.   Acies Acquisition (live, location-based, and mobile experiential entertainment SPAC)

16.   Lefteris Acquisition (fintech SPAC)

17.   Altimar Acquisition (no selected target industry)

Together, all the SPACs raised a total of $3.8 billion.

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