This Week Looks to Be Really Busy for IPOs
This week in particular looks to be especially busy with initial public offerings, including that of Array Technologies.
Although the broad markets were pulling back on Tuesday, they are still near all-time highs, and this is driving more interest in initial public offerings. This week in particular looks to be especially busy for IPOs.
Here, 24/7 Wall St. has taken a look at some of the big IPOs coming this week, and what to expect when they come public.
Codiak BioSciences is expected to price its 5.5 million shares on Tuesday within the range of $14 to $16 apiece. At the maximum price, the offering is valued up to $88 million. The company plans to list its shares on the Nasdaq under the symbol CDAK. The underwriters for the offering are Evercore, Goldman Sachs and William Blair.
Array Technologies is scheduled to price its shares on Wednesday, and they will be listed on the Nasdaq under the symbol ARRY. The company plans to price its 33.75 million shares in the range of $19 to $21. At the $21 price point, the entire offering is valued up to $708.8 million. The underwriters for the offering are Goldman Sachs, JPMorgan, Morgan Stanley, Guggenheim, Credit Suisse Barclays and UBS.
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Spinal Elements expects to price its 7.7 million shares in the range of $13 to $15, with a maximum expected value for the offering of $115.5 million. The company intends to list its shares on the Nasdaq under the symbol SPEL.
Aligos Therapeutics is looking to come public on Thursday, via underwriters JPMorgan, Jefferies, Cantor Fitzgerald and Piper Sandler. The company intends to price its 10.0 million shares in the range of $14 to $16. The maximum value to the offering is expected to be $160 million. The company intends to list its shares on the Nasdaq under the symbol ALGS.
Eargo intends to list its shares on the Nasdaq under the symbol EAR. The underwriters for the offering are BofA Securities, JPMorgan, Wells Fargo and William Blair. The company intends to price its 6.67 million shares in the range of $14 to $16, yielding a maximum expected value for the offering of $106.7 million.
Praxis Precision Medicines is being brought public by Cowen, Evercore, Piper Sandler and Wedbush. The company intends to price its 7.4 million shares in the range of $16 to $18, implying a maximum valuation for the offering of $133.2 million. Praxis expects to list its shares on the Nasdaq under the symbol PRAX.
Tarsus Pharmaceuticals is looking to price its 5.0 million shares in the range of $15 to $17. At the maximum price, the entire offering is valued up to $85.0 million. The underwriters for the offering are BofA Securities, Jefferies and Raymond James. The company intends to list its shares on the Nasdaq under the symbol TARS.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
