Seven IPOs and 12 SPACs went public in the week of November 15, 2021 led by Sweetgreen Inc (NYSE: SG), operator of a chain of fast-casual salad restaurants, raised $364 million at a $3,423 million market cap and finished 89% above its IPO price. Canadian producer of lithium for batteries, Snow Lake Resources Ltd (NASDAQ: LITM) raised $24 million at a $131 million market cap and finished 73% above its IPO price.
Germany-based developer of solar-powered vehicles, Sono Group N.V. (NASDAQ: SEV) raised $150 million at a $1,088 million market cap and finished 65% above its IPO price.
Cross-channel customer engagement platform provider, Braze Inc (NASDAQ: BRZE) raised $520 million at a $6,663 million market cap and finished 45% above its IPO price.
The Utah-based digital bank that offers loan and deposit services across the US, FinWise Bancorp (NASDAQ: FINW) raised $520 million at a $6,663 million market cap and finished 45% above its IPO price.
Provider of a video-first customer feedback platform for enterprises, UserTesting Inc (NYSE: USER) raised $140 million at a $62,302 million market cap and finished 4% below its IPO price.
Bitcoin miner primarily powered by renewable energy, Iris Energy Ltd (NASDAQ: IREN) raised $232 million at a $1,553 million market cap and finished 11% below its IPO price.
The 12 SPACs went public this past week are:
1. Energem Corp. (energy value chain in the Southeast Asia and APAC region SPAC)
2. Nabors Energy Transition (energy transition space SPAC)
3. Arisz Acquisition (healthcare SPAC)
4. FTAC Zeus Acquisition (fintech SPAC)
5. ALSP Orchid Acquisition I (no selected target industry)
6. Seaport Global Acquisition II (reorganized or distressed businesses SPAC)
7. Infinite Acquisition (tech SPAC)
8. bleuacacia (businesses that engage with millennial and Gen-Z consumers SPAC)
9. ShoulderUP Tech Acquisition (tech and cybersecurity SPAC)
10. LF Capital Acquisition II (no selected target industry)
11. InFinT Acquisition (financial technology businesses SPAC)
12. Crescera Capital Acquisition (businesses in Latin America SPAC)
Together, all the SPACs raised a total of $2.3 billion.
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