Current IPOs

This is our sheet of offerings expected this week. You can sort them how you like. Annual subscribers can also download current IPO slideshow decks on our downloads page. Access to the archive requires a separate membership to IPO Candy Pro which is highly discounted with the IPO Candy Annual membership.

CompanySymbolDescriptionTheme/SectorDeal NotesUnderwritersTradesInterest Level
SquarespaceSQSPProvides an easy-to-use platform for businesses and individuals to create sites.TechnologyGoldman, JP MorganWED
Oatley GroupOTLYSwedish Vegan food company known for it's oat milk.Consumer StaplesMorgan Stanley, JP MorganTHU
Procore TechnologiesPCORProvides cloud-based construction management and collaboration software.TechnologyGoldman, JP MorganTHU
Global-E GLBEProvides a platform for cross-border e-commerceTechnologyProvides a platform for cross-border e-commerce. TTM revenues of $136M were up 100% and the company is profitable. $4B valuation (27x sales). Goldman
Morgan Stanley
SimilarwebSMWBProvides a freemium platform for website traffic analyticsTechnologyA website traffic analysis company. They have done some interesting things in terms of packaging their solutions around industries and common use cases. Makes it easier for a customer to get to value on the platform. They might be a little late to the party. TTM revenues are $102M up 32% with good GM but negative OM. $1.7B valuation seems high. JPMorgan, CitiWEDMedium
Enact HoldingsACTPrivate mortgage insurance company being spun out of Genworth FinancialFinancialsPrivate mortgage insurance company being spun out of Genworth Financial. It's tough timing with an expected slowdown coming in the mortgage business. But it's a $1B+ business with very high margins so coming cheap based on earnings. JP Morgan, GoldmanTHULow
hear.comHCGHearing care services provider being spun out of WS AudiologyHealth CareA bit of an odd duck. They have developed a business around the hearing aid industry which is fraught with fragmentation and dysfunction. It reminds me a bit of Livongo (LVGO now TDOC) in terms of thinking through and implementing a new technology-enabled way to really deliver a healthcare service. Revenues of just over 200M are growing close to 30%. $2B market value.Morgan Stanley, JP MorganFRIMedium
ZenviaZENVProvides a customer experience communications platform in Latin AmericaTechnology Provides a customer experience communications platform in Latin America. Interesting little company. It's kind of a hybrid between solutions (Medallia, HubSpot, Zendesk) and toolkits (Twilio, Agora) that can be used to address all the different customer service delivery scenarios. TTM revenues are $82M up 21% and the proposed valuation is $600M. Looks like growth can accelerate and profit margins expand sequentially for the next year or two. Goldman, Morgan StanleyFRIHigh
Vera TherapeuticsVERAPhase 2 b biotech developing fusion proteins for immunological diseases.Health CareDrug developer in Phase 2b targeting fusion proteins for immunological diseases.Jefferies, CowenFRILow
iPowerIPWOnline hydroponic equipment supplierIndustrialsAnother hydroponic equipment supplier benefiting from the growth in the cannabis industry. Their plan is to leverage social media to grow faster. Seems shaky. DA Davison
Roth Cap
Flora GrowthFLGCCanadian developer of low-cost cannabis products in ColombiaConsumer DiscretionarySmall deal ($15M) for a cannabis producer based in Canada and producing out of Colombia. Seems to have little in the way of operations or revenues. BousteadTUENone
Five StarFSBCCalifornia bank with seven branches and two loan production offices.FinancialsAs a regional bank it's not in our wheelhouse however it's a small float so might be worthy of look.KBW, Stephens
Honest CompanyHNSTNon-toxic lifestyle brand of baby, skin, and household products.Consumer StaplesBringing a new model to the staid CPG business. Will be a hit with ESG types. Morgan Stanley, JP MorganWED
Bowman ConsultingBWMNProvides engineering-focused professional services.IndustrialsSmall company with $140M market cap, slow growth. DA Davidson, B. Riley FBRTHULow
ValnevaVALNCommercial-stage French biotech developing vaccines for infectious diseases.HealthcareThis one has multiple shots on goal including a potential vaccine for Lyme disease. Goldman, JefferiesTHUMedium
Anebulo PharmaceuticalsANEBA clinical-stage biotechnology company developing novel solutions for people suffering from cannabinoid overdose and substance addictionHealthcareAddiction and overdose definitely big problems. Still in Phase 2 though. BenchmarkFRILow
iPowerIPWAn online hydroponic equipment suppliers in the United States.IndustrialsThis one is hoping to jump on the bandwagon for indoor farming. Strategy seems dubious. DA Davidson, Roth Cap
Onion GlobalOGOperates a cross-border e-commerce platform for lifestyle brands in China.TechnologyHard to parse this one. They claim to be at the intersection of brand development and social media. (China)AMTD Global, HuataiFRILow
Talaris TherapeuticsTALSPhase 3 biotech developing methods for allogeneic hematopoietic stem cell transplantation.HealthcareInteresting biotech in the organ transplantation space. From Louisville Kentucky! Morgan Stanley, SVB LeerinkFRIMedium
Gyroscope Therapeutics HoldingsVISNUK-based Phase 2 biotech developing gene therapies for ocular diseases.HealthcarePretty slow progress so far on ocular diseases. Maybe these guys have something. Morgan Stanley, GoldmanFRIMedium
WaterdropWDHOperates a health insurance distribution and crowd-funding platform in China.FinancialsMedical insurance and crowd-funding platform in China. Will need to take a closer look at this one. Goldman (Asia), Morgan StanleyFRIMedium