Eight IPOs to watch out next week - Kalkine Media

June 24, 2021 05:33 PM PDT | By Team Kalkine Media
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  • Cybersecurity company SentinelOne Inc. expects to raise US$1 billion in IPO.
  • LegalZoomCom Inc. to offer 191,21,000 shares at US$24-27 per share.
  • Biometric security firm Clear Secure Inc. eyes an NYSE listing with the ticker symbol YOU.

The US IPO market braces for an exciting and busy last week of June, with eight initial public offerings, while seven of them are scheduled on the last day of the month.

One of the companies is expected to raise over US$1 billion in the IPO. The remaining firms are hoping to raise around 200-500 million each in the public offerings.

Last week, 17 companies had launched IPOs. An IPO is a process in which stocks are sold to institutional or retail investors to raise funds. 

Source: Pixabay

SentinelOne Inc. to raise US$1 billion

Cybersecurity company SentinelOne Inc. is valued at US$7 billion. It will launch an IPO on the NYSE under the ticker ‘S’ on June 30. It is offering 32,000,000 shares, and each share will cost US$26-29. It is expected to raise US$1 billion.

Also read: Krispy Kreme IPO: DNUT Stock Price to Valuation, all details here

The company shareholders to buy the stocks with an aggregate purchase price of US$50 million. It had announced its IPO plans in early June. Its current annualized recurring revenue (ARR) is US$130 million. The ARR is a subscription revenue metric that tells how much money will come through subscriptions every year. In January 2020, its ARR was US$66 million.

The company expects to gain new clients and increase sales after the IPO. It also plans to invest in technologies and foray into the global market and earn at least 30% of its revenue overseas in 2021.

Source: Pixabay

Also read: Xometry IPO: Company eyes US$100 mn in NASDAQ debut

LegalZoom to raise US$593 million

LegalZoomCom Inc, an online legal company, is also set to go public on June 30. The company offers legal aid to clients. It is offering 191,21,000 shares, with US$24-27 per share. It is expected to raise US$593,707,050. It will list on the NASDAQ with the ticker symbol ‘LZ’.

TCV has decided to buy stocks worth US$90million at the IPO price. Neuberger Berman and Black Rock will buy stocks worth US$75 million each. In this way, the company can get a valuation of more than US$5 billion.

LegalZoom provides online legal services to businesses and individuals. It helped to launch 3,78,000 businesses last year. It is its second attempt to go public. It first went public in 2012 but withdrew the listing in 2014.

Clear Secure Inc. eyes US$455 from IPO

Clear Secure Inc., the provider of safer and easier travel experience, is going public in June. It is offering around 13 million shares at US$27-30 apiece. It is expected to raise US$455,400,000. It will list on NYSE under the ticker YOU.

Dingdong (Cayman) Ltd. (DDL) eyes US$410 mn from IPO

Dingdong (Cayman) Ltd. (DDL) is a Chinese online grocery store and plans to go public in the US on June 29. It will list on NYSE under the ticker symbol DDL.

Also read: BuzzFeed eyes US$1.5bn-valuation after SPAC deal

The startup mainly operates in tier-1 Chinese cities like Beijing and Shanghai. It is backed by SoftBank Corp, Tiger Global Management, and Sequoia Capital.

It is offering 14000000 shares, with each share costing US$23.50-25.50. It is expected to raise the US $410,550,000.

Onno Faber, Leonard van Driel and Jorn van Dijk founded had founded the Shanghai-based Dingdong startup in 2017. It is current valued at US$1.7 billion.

With this IPO, its valuation might go up to US$6 billion.

Intapp Inc. expects to raise US$$338 million

Intapp Inc.
provides industry-specific cloud-based solutions. It will go public on June 30 with a listing on Nasdaq Global under the ticker name INTA. It is offering 1,05,0000 stocks at US$25-28 each. It is expected to raise US$$338,100,000.

Also read: Warby Parker IPO: Eyewear company files for confidential US listing

Xometry Inc. expects to raise US$332 million

Xometry Inc., an artificial intelligence-based manufacturing startup based in Maryland, is expected to raise US$332 million.

It will go public on June 30 with a NASDAQ listing under the ticker symbol XMTR. It will offer 687,5000 shares at US$38-42 per share.

Xometry’s online platform connects engineers and designers with manufacturers. It raised US$75 million and US$55 million in 2020 and 2019, respectively. It plans to repay its debt of US$15.8 million from IPO proceeds.

CVRx to raise US$1.5 million

CVRx is a medical device manufacturer backed by Johnson and Johnson. It will go public next week with a Nasdaq listing under the ticker CVRX.

It will offer 6,250,000 shares at US315-17 apiece. It is expected to raise US$$1,500,000.

CVRx makes medical devices for people having chronic heart and other diseases. Its bestseller product is Barostim Neo for people with heart ailments. The US has over 6.2 million people with heart diseases, and globally, the number exceeds 26 million.

Also read: Grab To Go Public in the US via US$39.6-Billion SPAC Merger

Integral Ad Science Holding LLC expects to raise US$293 million  
The company to go public on June 30. It will list on NASDAQ under the ticker IAS. It will offer 15,000,000 stocks at US$15-17 apiece.

It expects to raise US$293 million.


Please note: The above constitutes a preliminary view and any interest in stocks/cryptocurrencies should be evaluated further from an investment point of view.


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