initial public offerings (IPOs) trading on American exchanges

Wednesday, June 30, 2021

SentinelOne (S) began trading on the NYSE on Wed 30 June 21

SentinelOne provides an AI-powered cybersecurity platform.
  • Sector(s): Technology
  • Industry: Software—Infrastructure
  • Full Time Employees: 1,900
  • Incorporated in 2013
  • Headquartered in Mountain View, California.
SentinelOne twice bumped up the size of its deal, which is typically a sign of strong demand. The company collected $1.2 billion after selling 35 million shares at $35. It had filed to offer 32 million shares at $26 to $29 each, but boosted that to $31 to $32 on Monday.
  • Priced upsized 35 mln share IPO at $35/share, above the $26-29 expected range
  • Opened at $46 and closed at $42.50, up 21% from the offer price.

Didi Global (DIDI) began trading on the NYSE on Wed 30 June 21

DiDi Global Inc., a mobility technology platform, provides ride hailing and other services in the People's Republic of China, Brazil, Mexico, and internationally.
The company was formerly known as Xiaoju Kuaizhi Inc. and changed its name to DiDi Global Inc. in June 2021.
Chinese ride-hailing app Didi has more than 377m users and 13m drivers 
Cheng Wei is CEO of Didi Chuxing. Didi was formed in 2015 when Cheng's company Didi Dache merged with Alibaba-backed competitor Kuaidi Dache. Didi acquired Uber China in 2016.
  • Sector(s): Technology
  • Industry: Software—Application
  • Full Time Employees: 15,914
  • Founded in 2012 
  • Headquartered in Beijing, China.
Didi Global priced upsized 316.8 mln share IPO at $14/ADS, at the high end of the $13-14 expected range.
Opened at $16.65, hit a high of $18.01, and then tumbled. The stock closed at $14.14, up 14 cents from its offer price.

Liu Qing or Jean Liu, is the President of Didi. She worked at Goldman Sachs Asia for 12 years, becoming a managing director in 2012, before switching to Didi Dache serving as its chief operating officer in July 2014.

Liu was born in 1978 in Beijing. She is the daughter of Chinese businessman and Lenovo founder Liu Chuanzhi, and the granddaughter of Liu Gushu, a senior executive banker at the Bank of China.

A Didi autonomous-driving car is shown at the Volvo booth during Auto Shanghai 2021 in April.

Monday, June 28, 2021

IPOs this week : June 28 - July 2, 2021 (wk 26)

IPOs expected to price
  • DingDong (NYSE:DDL), 
  • SentinelOne (NYSE:S), 
  • Intapp (NASDAQ:INTA), 
  • Xometry (NASDAQ:XMTR), 
  • Integral Ad Science Holding (NASDAQ:IAS), 
  • D-Market Elektronik Hizmetler ve Ticaret (NASDAQ:HEPS), 
  • Krispy Kreme (DNUT) and 
  • Torrid Holdings (NYSE:CURV). 
Across the Pacific, the XPeng (NYSE:XPEV) listing in Hong Kong will be priced next week at the lower end of the international offer price or at HK$180, whichever is lower.

Krispy Kreme IPO preview: Krispy Kreme (DNUT) is making its second run as a publicly-traded company. Krispy Kreme will raise about $600M at the midpoint of its expected pricing range and have a valuation of around $3.8B."Krispy Kreme's story has changed over the years, and expanded beyond the company's original product lines to include a broader reaching product assortment (doughnuts, coffee, packaged goods, and its Insomnia Cookies brand subsidiary) and global footprint (domestic/international company-operated & franchised units, distribution, and retail business)," updates MKM Partners analyst Brett Levy on the IPO.

Torrid IPO preview: Torrid Holdings (CURV) plans to offer 8M shares in a price range of $18 to $21. Torrid is the largest direct-to-consumer brand of women’s plus-size apparel and intimates in North America. Torrid has over 600 stores in operation across 36 U.S. states. The IPO is the first for the mall sector in over two years.

Friday, June 11, 2021

Onion Global (OG) began trading on the NYSE on Fri 7 May 21

Onion Global is a Chinese e-commerce platform, a next-generation lifestyle brand platform that incubates, markets and distributes the world’s fresh, fashionable and future brands to young people, with a unique and innovative business model that leverages key opinion consumers (KOC) representing a total of nearly 700,000 social media accounts.
  • Sector(s): Technology
  • Industry: Software—Application
  • Full Time Employees: 796
  • Incorporated in 2009 
  • HQ in Guangzhou, China.

Thursday, June 10, 2021

Virpax Pharma (VRPX) began trading on the Nasdaq on Wed 17 Feb 21

Pennsylvania-based Virpax Pharmaceuticals (VRPX) has priced its IPO of 1.8M common shares at $10.00/share, for gross proceeds of $18M.
The company was founded to create new formulations for the use of existing, approved drugs for various forms of pain management applications.

Virpax's drug development pipeline

West Chester, PA-based preclinical stage biopharmaceutical company is focused developing non-opioid and non-addictive pain management products, using new drug delivery systems.
  • It has rights to develop and sell a proprietary patented nonsteroid anti-inflammatory Topical Spray Film Delivery Technology for acute musculoskeletal pain (DSF100 or Epoladerm) and for chronic osteoarthritis of the knee (OSF200).
  • The company also rights to injectable, long-acting local anesthetic Liposomal (Hydro) Gel Technology for postoperative pain management (LBL100 or Probudur).
  • Virpax says that it also has plans on using our proprietary delivery technologies to develop anti-viral therapies as an anti-viral barrier to potentially prevent or reduce the risk or the intensity of viral infections in humans, including,  influenza and SARS-CoV-2.

Alset EHome (AEI) : 6-month performance


Tuesday, June 8, 2021

CarLotz (LOTZ) began trading on the Nasdaq on Fri 22 Jan 21

 CarLotz, Inc. operates as a consignment-to-retail used consignment store.
  • Sector(s): Consumer Cyclical
  • Industry: Auto & Truck Dealerships
  • Full Time Employees: 166
  • 8 locations and online sales
  • Headquartered in Richmond, Virginia
Went public through a merger with a Nasdaq-listed special purpose acquisition (SPAC) Acamar Partners Acquisition Corp., a Miami, Florida-based SPAC that was formed in 2018 and went public with a $300 million IPO in 2019.  Acamar Partners was led by private equity investors Juan Carlos Torres Carretero and Luis Ignacio Solorzano Aizpuru.

CarLotz was the third major U.S. online car seller to go public this past year after Vroom (VRM) and Shift Technologies Inc (SFT).

Online sales only account for around 1% of the roughly $840 billion Americans spend annually on used cars. But after numerous U.S. states went into COVID-19 lockdowns, the advantage of socially distant online sales has come into focus.

CarLotz co-founders Michael Bor (left), Will Boland (center) and Aaron Montgomery (right). 

CarLotz founders, from left, Michael Bor, Aaron Montgomery and Will Boland.

Thursday, June 3, 2021

DLocal Limited (DLO) began trading on the Nasdaq on Thur 3 June 21

DLocal Limited operates a payments platform worldwide. Its platform enables enterprise merchants to connect with consumers in emerging markets, accept payments, send payouts, and settle funds. 
The platform integrates more than 300 payment methods to expand the access to international electronic commerce. Available options include cash payment, for example, Bank Ticket in Brazil and RapiPago in Argentina, digital payment options such as UPI and NetBanking in India, and UnionPay in China, bank transfers in 13 countries as well as local cards. 
  • Sector(s): Technology
  • Industry: Software—Infrastructure
  • Full Time Employees: 365
  • Founded in 2016 
  • Headquartered in Montevideo, Uruguay
dLocal Limited opened at $31 after pricing 29.4 mln share IPO at $21.00 per share, above the expected range of $16.00-18.00

Sebasti├ín Kanovich, CEO 
Sebastián studied Economics, Entrepreneurship & Innovation, and Management of Technology Business at Tel Aviv University.

Kindred Biosciences (KIN) : positive results from a pivotal efficacy study of KIND-030 in dogs infected by parvovirus




SAN FRANCISCO, June 2, 2021 /PRNewswire/ -- Kindred Biosciences, Inc. (NASDAQ: KIN), a biopharmaceutical company focused on saving and improving the lives of pets, today announced positive results from a pivotal efficacy study of KIND-030 in dogs infected by parvovirus. The primary endpoint was survival and the results showed 100% survival in the treated group versus 43% survival in the placebo group.

KIND-030, a monoclonal antibody targeting canine parvovirus (CPV), is partnered with Elanco Animal Health (NYSE: ELAN).

In this randomized, blinded, placebo-controlled study, KIND-030 was administered to dogs after they tested positive for CPV infection. The primary endpoint of the study was met. The parvovirus challenge resulted in 57% mortality rate in the control dogs compared to 0% mortality rate in the KIND-030 treated dogs. The dogs did not receive any supportive care or other treatments.

"Parvovirus is a devastating disease currently without any available treatment," said KindredBio's Chief Executive Officer, Richard Chin, M.D. "With 100% efficacy, we believe KIND-030 has the potential to revolutionize the care of these dogs. Instead of a lengthy and expensive hospitalization that is frequently ineffective and can leave the dog with permanent disabilities, the infected dogs can now be treated with a single injection without need for additional supportive care or hospitalization."

"We are excited to partner with KindredBio on this revolutionary treatment that can significantly improve the health and well-being of dogs," said Jeff Simmons, president and CEO of Elanco Animal Health. "With our significant global reach and access to veterinarians and pet owners around the world, Elanco looks forward to leveraging our capabilities and skilled team of experts to advance and commercialize this novel treatment for pets globally."

With this positive study, KIND-030 has now demonstrated efficacy in both indications being pursued: prophylactic therapy to prevent clinical signs of canine parvovirus infection, and treatment of established parvovirus infection. Results from the pivotal efficacy study for the therapeutic claim are expected to be submitted to the United States Department of Agriculture (USDA) in June, with possible approval by year-end 2021.

CPV is the most significant and contagious viral cause of enteritis in dogs, especially puppies, with mortality rates as high as 91% if untreated. There are currently no Food and Drug Administration or USDA approved treatments for CPV, nor any other available treatment. Veterinary intervention is limited to supportive care, which can cost owners up to thousands of dollars per puppy, with an average cost of $1,200.

Canine parvovirus is most often seen in puppies less than 6 months of age, but can occur in unvaccinated dogs of any age. Clinical signs often include depression, not eating, vomiting, and profuse diarrhea which is often blood tinged.1 Banfield estimates that there are approximately 250,000 parvo cases in the U.S. each year, excluding emergency hospitals, shelters, specialty hospitals, or undiagnosed cases.2

KIND-030 binds to critical portions of the virus, preventing the virus from entering into cells.

On April 28, 2021 KindredBio announced acceptance of the parvovirus antibody prophylaxis study data and approval of the efficacy indication by the USDA Center for Veterinary Biologics. The pivotal efficacy data for the prophylactic indication demonstrated that 0% of the KIND-030 treated dogs developed parvovirus infection while 100% of the placebo-control dogs developed the disease, and also showed 100% survival rate in KIND-030.

Regulatory approval and review timeline are subject to the typical risks inherent in such a process. The results of the pivotal efficacy study for the therapeutic claim stated in this press release have not been reviewed by the USDA Center for Veterinary Biologics.