Last week’s initial public offering (IPO) action saw six companies launch successful offerings that raised $2.9 billion in new capital. A total of 13 IPOs are scheduled to launch in the coming week seeking a total of nearly $1.1 billion in new capital. If even two firms are successful, this month will be the busiest September since 2000.
Here’s a brief rundown of last week’s IPOs.
Y-mAbs Therapeutics Inc. (NASDAQ: YMAB) raised $96 million in an upsized offering of 6 million shares at $16 a share, the high end of the expected range. The stock got a pop of 50% on the Friday IPO.
Eventbrite Inc. (NYSE: EB) raised $230 million sold 10 million shares at $23 a share, the high end of the expected range. Shares got a first-day pop of 59% and closed the week up 49%.
Farfetch Ltd. (NYSE: FTCH) raised $885 million in an upsized offering of 44.2 million shares at $20, above the expected range of $15 to $17. Shares closed the week up 42% following the Friday launch.
Elanco Animal Health Inc. (NYSE: ELAN) raised $1.51 billion by selling 62.9 million shares at $24, also above the expected range. Shares got a first-day pop of 50% and closed the week up 42%.
Bank7 Corp. (NASDAQ: BSVN) raised $65 million by selling 3.4 million shares at $19, just below the midpoint of the expected range of $18 to $21. Shares closed the week up 1%.
X Financial (NYSE: XYF) raised $105 million by selling 11 million shares at $9.50, just above the low end of the expected range of $9 to $11. Shares got a first-day pop of 26% and closed the week flat.
Remora Royalties and Zekelman Industries both postponed their planned IPOs.
Through the week ending September 21, IPO ETF manager Renaissance Capital reported that 145 IPOs have priced in the U.S. so far this year, up 45% year over year. Total proceeds raised through last week equaled $38.6 billion, up about 65% year over year.
For 2017, Renaissance Capital reported a total of 160 IPOs, up 52% year over year from 105 in 2016. Total 2017 proceeds amounted to $35.5 billion compared with a 2016 total of $18.8 billion. Renaissance Capital does not include “best efforts” or blank-check companies in its totals, nor does it include IPOs that raise less than $10 million.
Here are the 13 IPOs that will test the public markets in the coming week.