Three Upcoming IPOs To Watch on NASDAQ This Month

 

Summary

  • Consumer products retailer Honest Company will receive up to US$110million in the IPO.
  • Hydroponic equipment retailer iPower will become public on NASDAQ under the symbol “IPW.”
  • Five Star Bancorp priced its IPO in the range of US$18 and US$20 per share.

Over 51 companies started trading on NASDAQ in April. Some companies chose initial public offering while some chose direct listing and special acquisition company routes.

Autonomous truck maker TuSimple raised US$1.3 billion on NASDAQ in April while application software company AppLovin and biotechnology company Zymergen raised US$2 billion and US$500 million respectively.

Here, we explore three major companies that are slated to go public on NASDAQ through IPOs.

The Honest Company

The Honest Company is a Los Angeles-based consumer products company that sells baby, personal care and beauty products.

The company was co-founded by Hollywood actor Jessica Alba, known for her roles in Fantastic Four, and Dark Angel in 2011.

In 2020, Honest recorded US$300.5 million in revenue while its net loss totaled US$14.5 million.

The consumer products retailer plans to trade on NASDAQ under the symbol “HNST.”

According to an SEC filing, Honest expects 90.5 million shares to be outstanding after the offering. The company has priced the IPO between US$14 and US$17 per share.

Honest will sell 6.4 million shares, raising up to US$110million.

iPower Inc.

iPower is California-based sells hydroponic equipment and accessories to grow vegetables and fruits as well as cannabis online. The company offers products and suppliers under its in-house brands and other brands through www.zenhydro.com.

During the six months ended December 31, 2020, iPower’s sales revenues came in at US$26.21 million while its income after taxes was approximately US$1.34 million.

iPower plans to list its shares on NASDAQ under the symbol “IPW.”

The company will offer 5 million shares at a price range of US$9 to US$11. The company expects to net proceeds of around US$55 million from the offering. iPower said it has 26.6M shares outstanding after the IPO.

Five Star Bancorp

Five Star Bancorp is the California-based holding company for Five Star Bank, a community bank that offers a range of consumer and commercial banking and lending services as well as insurance and investment management services. Five Star Bank operates through a network of approximately 50 locations.

Five Star Bancorp has applied to list common stock on NASDAQ under the symbol “FSBC.”

The company is offering 5.3 million shares in the IPO and at a price range of US$18 and US$20 per share. Net proceeds are expected to be around US$105.3 million.

Five Star Bancorp anticipates having 16.3 million shares outstanding after the offering.

READ MORE: What has been the landmark feat for the IPOs through the SPAC route in 2021?


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