initial public offerings (IPOs) trading on American exchanges

Monday, March 29, 2021

IPOs this week : March 29 - Apr 1, 2021 (wk 13)

IPOs expected to price
  • Compass (NYSE:COMP), 
  • Frontier Group (NASDAQ:ULCC), 
  • Coursera (COURS), 
  • Kaltura (KLTR), 
  • Karooooo (NASDAQ:KARO), 
  • Muliang Viagoo Technology (OTC:MULG) and 
  • Flora Growth (FLGC). 
IPO quiet period expirations
  • Oscar Health (NYSE:OSCR) and Innovage (NASDAQ:INNV) on March 29,

IPO lockup expirations
  • Chindata Group (NASDAQ:CD), 
  • Yalla Group (NYSE:YALA), 
  • Boqii Holding (NYSE:BQ), 
  • Pulmonx (NASDAQ:LUNG), 
  • Mission Produce (NASDAQ:AVO) and 
  • Lixiang Education Holding (NASDAQ:LXEH).

Thursday, March 18, 2021

Duckhorn Portfolio (NAPA) began trading on the NYSE on Wed 18 March 2021

The Napa Valley winery said 20.0 million shares were sold in the IPO, 13.3 million shares directly from the company and the rest by selling shareholders. 
  • The IPO priced overnight at $15 a share, in the middle of the expected range of between $14 and $16 a share, as the company raised $200.0 million and was valued at about $1.73 billion. 
  • Opened 24% above its initial public offering price. 
  • The first trade was at $18.60 at 11:41 a.m. Eastern for about 1.8 million shares. 

Wednesday, March 17, 2021

Upstart (UPST) reported earnings on Wed 17 March 21 (a/h)

  ** charts after earnings **






Upstart beats by $0.05, beats on revs; guides Q1 revs above consensus; guides FY21 revs above consensus
  • Reports Q4 (Dec) earnings of $0.07 per share, $0.05 better than the S&P Capital IQ Consensus of $0.02; revenues rose 41.9% year/year to $86.7 mln vs the $73.5 mln S&P Capital IQ Consensus.
  • Bank partners originated 123,396 loans across our platform in the fourth quarter of 2020, up 57% from the same quarter of the prior year.
  • Conversion on rate requests was 17.4% in the fourth quarter of 2020, up from 14.9% in the same quarter of the prior year.
  • Co issues upside guidance for Q1, sees Q1 revs of $112-$118 mln vs. $75.30 mln S&P Capital IQ Consensus. Sees adjusted net income of $13.4-$14.2 mln.
  • Co issues upside guidance for FY21, sees FY21 revs of approximately $500 mln vs. $359.45 mln S&P Capital IQ Consensus. Contribution Margin of approximately 41%.

  • Upstart agrees to acquire Prodigy Software; terms not disclosed
  • Upstart has entered into a definitive agreement to acquire Prodigy Software, a provider of cloud-based automotive retail software. With the acquisition of Prodigy, Upstart will accelerate its efforts to offer AI-enabled auto loans through the tens of thousands of auto dealers nationwide where the majority of auto loans are originated.
  • More than $2 bln in vehicle sales have been powered by Prodigy at franchised dealers from brands such as Toyota, Honda, and Ford.
  • The transaction is expected to close in the second quarter of calendar year 2021.
  • Monday, March 15, 2021

    Baosheng Media (BAOS) began trading on the Nasdaq on Mon 8 Feb 21

    Baosheng Media Group is a China-based online marketing solution provider.
    Also involved in blockchain-based marketing activities and bitcoin mining business.
    • Sector(s): Communication Services
    • Industry: Advertising Agencies
    • Full Time Employees: 78
    • Incorporated in 2014 
    • Headquartered in Beijing, China.
    • http://www.bsacme.com
    Raised $30M in initial public offering of 6M (increased from 5M shares) ordinary shares at $5/share.
    Opened at $8.25, 65% above the IPO price of $5.

    Wednesday, March 10, 2021

    Branson-backed SPAC to raise $500 million

    (Reuters) - A blank-check firm, backed by Virgin Group's billionaire founder Richard Branson, is looking to raise as much as $500 million through an initial public offering, a regulatory filing showed on Tuesday.

    Virgin Group Acquisition Corp III, a special purpose acquisition company, or SPAC, plans to sell 50 million units, composed of shares and warrants, priced at $10 per unit on the New York Stock Exchange. (https://bit.ly/2OEew3C)

    The firm said in its filing it will be looking for targets to acquire in one of Virgin Group's core sectors, namely travel and leisure, financial services, health and wellness and renewable energy, among others.

    Branson, a serial entrepreneur and a prolific investor, has raised hundreds of millions through multiple blank-check companies so far.

    In February, VG Acquisition Corp (NYSE:VGAC), one of Branson's SPACs, agreed to take consumer DNA-testing firm 23andMe public through a merger, valuing the merged entity at $3.5 billion.

    Plans call for the deal to close during the second quarter, with the combined company trading on the New York Stock Exchange under the ticker symbol “ME.”

    Branson, a multibillionaire, is famous as a swashbuckling entrepreneur who started his first business as a teenager. He eventually founded the Virgin Records music label, Virgin Megastores record store, Virgin Atlantic Airlines, Virgin Galactic space-tourism company (NYSE:SPCE) and other businesses. Branson is also famous for his hobby of flying in hot-air balloons, setting several world records.

    SPACs are shell companies which raise funds to acquire a private company with the intent of taking it public through a merger at a later date, allowing such companies to enter public markets by sidestepping a traditional IPO.

    Credit Suisse is the sole book-running manager for the Virgin Group Acquisition Corp III offering.