Eleven upcoming IPOs to keep an eye on in September

Highlights

  • Eleven IPOs are due between Sep 22 and 24; their price range already has been fixed.
  • Two more IPOs are lined up on Sep 28 and 29, but their offering price is to be decided.
  • On September 15, a total of fourteen IPOs were launched.

US stock exchanges saw a rush of IPOs on Wednesday. A total of fourteen IPOs were launched, and there is no sign of slowing down this month. A raft of IPOs is expected to hit the market in the next two weeks.

Here we explore eleven upcoming IPOs that are set to hit the market.

Freshworks Inc. (FRSH)

The San Mateo, California-based technology company has applied for a stock listing on the NASDAQ Global Select under the ticker symbol FRSH.

A total of 28,500,000 shares of Class A common stock will be on offer. The price range is set between US$28.00 and US$32.00. An additional 2,850,000 shares will be on offer for the underwriters. The company has around 4300 employees as of Aug 30, 2021.

It filed the IPO papers on Aug 27. The expected launch date is Sep 22.

The company offers SaaS products like Freshdesk and Freshservice for customer and employee management. So far, some 52,500 businesses have used its software.

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Eleven upcoming IPOs to watch in September

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Knowlton Development Corp Inc (KDC)

This Canada-based company plans to offer 57,142,857 common shares and an additional 8,571,428 for underwriters. The price range is between US$13.00 and US$15.00.

The company is aiming for an NYSE listing under the ticker symbol KDC. It filed the IPO papers on July 12, and the expected launch date is Sep 22. The company had 11700 employees as of July 31, 2021.

Knowlton provides value-added solutions in personal care and home care segments, including skin, body and hair care, cosmetics, fragrance, fabric care, and pest control products, etc.

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Toast, Inc. (TOST)

The company filed the IPO papers on August 27, 2021. It will offer 21,739,131 shares of Class A common stock and an additional 3,260,869 shares for underwriters in cash of overallotment. Its price range is between US$30.00 and US$33.00.

It has applied for an NYSE listing under the ticker symbol TOST.

The Boston-headquartered company offers cloud-based and end-to-end technology platform for restaurants. As of Sep 13, it had 2200 employees.

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Remitly Global, Inc. (RELY)

Its IPO filing date was August 30, 2021. Remitly plans to offer 12,162,777 shares of common stock and an additional 1,824,417 shares for the underwriters.

The price range will be between US$38.00 and US$42.00. The company applied for a listing on the NASDAQ Global Select under the ticker name RELY.

The Seattle, Washington-based company had 1600 employees as of June 30, 2021. The company provides financial solutions focused on immigrants.

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Clearwater Analytics Holdings, Inc. (CWAN)

The Boise, Idaho-based company plans to offer 30,000,000 shares of Class A common stock and an additional 4,500,000 shares for underwriters for buying in case of overallotment. The price range is between US$14.00 and US$16.00 per share.

It applied for the IPO on Aug 30. It is aiming for an NYSE listing under the ticker name CWAN.

The company had 1259 employees as of June 30. The company provides a cloud-based platform for accounting and analytics.

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Sovos Brands, Inc. (SOVO)

The Louisville, Colorado-based company will offer 23,334,000 shares of common stock and an additional 3,500,100 shares for the underwriters to execute the buy option in case of overallotment. The price range is between US$14.00 to US$16.00. It applied for IPO on Aug 27.

It is a food company focused on acquiring and building food brands. It had 615 employees as of June 26, 2021. The company has applied for a NASDAQ Global listing under the symbol SOVO.

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EngageSmart, LLC (ESMT)

The company applied for IPO on Aug 27, 2021. It plans to offer 14,550,000 shares of common stock and an additional 2,182,500 shares for underwriters to buy on option.

It has fixed the price range between US$23.00 and US$25.00.

The Braintree, Massachusetts-based company’s headcount was 697 as of June 30. The company offers vertically tailored customer engagement software and payment solutions.

The shares will be listed on NYSE under the ticker symbol ESMT.  

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Sterling Check Corp. (STER)

The company is offering 14,285,000 shares of common stock and an additional 2,142,750 shares for the underwriters to execute their buy option. The price range is between US$20.00 and US$22.00, and the IPO filing date was August 27, 2021.

The New York-based Sterling Check provides technology-based identity and background verification services for hiring and risk management.

It has applied for a NASDAQ Global Select listing under the ticker name STER.

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Brilliant Earth Group, Inc. (BRLT)

BRLT has applied for IPO on August 30, 2021. It is offering 16,666,667 shares of Class A common stock and an additional 2,500,000 shares for underwriters in case of overallotment.

Its price range is between US$14.00 and US$16.00 per share. The San Francisco, California-headquartered jewelry company offers exclusive ethically sourced design jewelry. It had 359 employees as of June 30, 2021.

The company applied for the ticker name BRLT for its NASDAQ Global Select listing.

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A.K.A. BRANDS HOLDING CORP. (AKA)

The company plans to offer 13,888,889 shares of common stock and an additional 2,083,333 shares for underwriters. The price range is between US$17.00 and US$19.00. The IPO filing date was August 24, 2021.

The San Francisco-based company had 1124 employees as of December 31, 2020. The company owns fashion brands and runs a direct-to-consumer platform.

It applied for an NYSE listing under the ticker name AKA.

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Thorne Healthtech, Inc. (THRN)

It plans to offer 9,000,000 shares of common stock and an additional 1,350,000 shares for the underwriter. The price range is US$13.00 to US$15.00. It applied for IPO on July 16, 2021.

The Summerville, South Carolina-based company is a science-driven wellness organization that aims to offer innovative, personalized products and services for better health and well-being.

The company applied for a NASDAQ Global Select listing under the ticker name THRN.

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Bottomline    

Over a dozen initial public offerings (IPOs) are lined up in September. Investors will have ample options to choose from. However, investors must evaluate the companies carefully before investing.

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