IPO watch:
Crowdstrike (CRWD), Fiverr International (FVRR) and Chewy (CHWY) are all expected to price this week amid what's been a hit or miss IPO market.
- Cybersecurity specialist Crowdstrike already boosted the top end of its pricing range by 30% amid strong demand.
- Meanwhile, Gig-economy player Fiverr is hoping to follow in the path of competitor Upwork (NASDAQ:UPWK) with a huge first-day pop.
- Online pet food seller Chewy is looking to raise over $100M with its offering at a proposed valuation of over $7B. Chewy's revenue grew 75% in FY18 to $3.5B and the company recorded a net loss of $267M. Owner PetSmart will still own 70% of the total Chewy shares outstanding and 77% of the voting power following the IPO.
IPO quiet period/lockup expirations:
- There are share price lockup expirations arriving on Tencent Music (NYSE:TME) on June 10 and both Legacy Housing (NASDAQ:LEGH) and 360 Finance (NASDAQ:QFIN) on June 11.
- Quiet period expirations on tap include Applied Therapeutics (NASDAQ:APLT) and Postal Realty Trust (NYSE:PSTL) on June 10, as well as Avantor (NYSE:AVTR), Luckin Coffee (NASDAQ:LK) and Fastly (NYSE:FSLY) on June 11.
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