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US IPOs Weekly Recap
Week of January 18, 2021

Esther Thin

Six IPOs and 14 SPACs went public in the week of January 18, 2021, led by Rlx Technology (NYSE: RLX) an e-vapor manufacturer in China, raised $1,398 million at a $18.64 billion market cap and finished 146% above its IPO price. The Beijing, China-based company was founded in 2018 and booked $400 million in sales for the 12 months ended September 30, 2020.

Steel producer in China, Huadi International Group Co Ltd (NASDAQ: HUDI) raised $25 million at a $106 million market cap and finishing the week down 11%. The Wenzhou, China-based company was founded in 2018 and booked $59 million in sales for the 12 months ended March 31, 2020.

The 14 SPACs went public this past week are:

1.      Liberty Media Acquisition (TMT and entertainment industries SPAC)

2.      Queen's Gambit Capital (sustainable business SPAC)

3.      Gores Metropoulos II (no selected target industry)

4.      European Sustainable Acq. (sustainable industries in Europe SPAC)

5.      SCP & CO Healthcare Acq. (healthcare industry SPAC)

6.      Jack Creek Investment (businesses in the food and grocery supply chain SPAC)

7.      Legato Merger (industrial business SPAC)

8.      FoxWayne Enterprises Acq. (biotechnology and telemedicine in North America SPAC)

9.      North Atlantic Acq. (consumer, industrials, and telecom sectors in North America and Europe SPAC)

10.   TZP Strategies Acq. (tech, business, and consumer sectors SPAC)

11.   Virtuoso Acquisition (media business SPAC)

12.   Oyster Enterprises Acq. (media, tech, and other industries SPAC)

13.   Primavera Capital Acq. (consumer business with a presence in China SPAC)

14.   OEP Open Water I (no selected target industry)

Together, all the SPACs raised a total of $3.7 billion.

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