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 writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics. Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications. A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.
