initial public offerings (IPOs) trading on American exchanges

Tuesday, August 31, 2021

Torrid (CURV) began trading on the NYSE on Thur 1 July 21

Torrid was purchased by private equity firm Sycamore Partners in 2013 as part of its acquisition of parent company Hot Topic for approximately $600 million.
In 2015, Torrid branched off from Hot Topic to become Torrid, LLC.
Torrid is the largest direct-to-consumer retailer of plus-sized women's clothing in the U.S.
  • Sector(s): Consumer Cyclical
  • Industry: Apparel Retail
  • Full Time Employees: 2,047
  • Headquartered in City of Industry, California
  • http://www.torrid.com

The company sold 11 million shares priced at $21 each, the high end of a proposed range of $18 to $21, after upsizing the deal from an earlier plan to offer 8 million shares. The company raised $231 million at a valuation of $2.3 billion, based on 110 million shares expected to be outstanding after the deal closes.


Torrid's Liz Muñoz started as a patternmaker. Now she's a CEO. 
 
Torrid’s Chief Executive Elizabeth Muñoz has served in the role since 2018. Chief Financial Officer George Wehlitz, Jr. has been in the position since January 2021, though he has led the company’s finance operations since 2013, when he became chief financial officer of legacy parent company Hot Topic.
 
There were 608 Torrid stores as of May 1, 2021, with e-commerce representing 48% of sales in 2019 and 70% of sales in 2020. Torrid stores had to shutter temporarily last year due to COVID-19.

Torrid also has a rewards program that allows it to collect data to better serve and target its customers. In 2020, 95% of net sales were attributable to loyalty members.

Torrid is going public as the body-positive movement creates a tailwind for more inclusive fashions and marketing


Torrid’s target market are women between the ages of 25 and 40. More than half (58%) of Torrid’s customers in 2020 were younger than 40 and the average size worn was 18. The company also says the ethnic composition of its customers is in line with the U.S. population.

Data furnished by Torrid puts the U.S. women’s plus-size apparel and intimates market at $85 billion. This includes 90 million plus-size women wearing sizes 10 and up. Data from market intelligence platform Edited forecasts that this category will grow to $697 billion by 2027.



Monday, August 30, 2021

IPOs this week : Aug 30 - Sept 3, 2021 (wk 35)

There are no IPO pricings on the calendar in the week ahead as the sector takes a bit of break ahead of the Labor Day weekend. 

IPO quiet period expirations
  • European Wax Center (NASDAQ:EWCZ), Weber (NYSE:WEBR), Orange County (NASDAQ:OBT), Paltalk (NASDAQ:PALT) and IDW MEdia (OTCPK:IDWM) on August 30, as well as 
  • Adagio Therapeutics (NASDAQ:ADGI) on August 31. 
IPO lockup expirations
  • Oscar Health (NYSE:OSCR) on August 30 and 
  • Innovage Holding (NASDAQ:INNV) on August 31. 

The fall initial public offering season kicks off in Europe next week with companies like French health-care property firm Icade Sante, Belgian chemicals distributor Azelis, German call center business Majorel, DNA-sequencing firm Oxford Nanopore Technologies and Richard Branson's Virgin Atlantic Airways Ltd. all on the watch list.

Mister Car Wash (MCW) began trading on the NYSE on Fri 25 June 21

Mister Car Wash, which owns and operates more than 340 car washes across 21 states, filed to go public earlier this month. According to its SEC filing, the company washed 59.6 million cars between April 2020 and March 31 of this year. The company also operates a monthly subscription program — the Unlimited Wash Club — which had 1.4 million members at the end of the first quarter of 2021. Those subscriptions made up 62 percent of total wash sales in the latest period and 68 percent of total wash volume. 
  • Offered 37.5 million shares of common stock at $15 per share.  31,250,000 of those shares were offered by Mister Car Wash, while another 6,250,000 were sold by selling stockholders. 


Saturday, August 21, 2021

IPOs this week : Aug 23 - 27, 2021 (wk 34)

IPO quiet period expirations
  • Traeger (NYSE:COOK), 
  • Duolingo (NASDAQ:DUOL), 
  • Robinhood Markets (HOOD), 
  • Icosavax (NASDAQ:ICVX), 
  • MeridianLink (NYSE:MLNK), 
  • Rallybio (NASDAQ:RLYB), 
  • Riskified (NYSE:RSKD), 
  • Snap One (NASDAQ:SNPO), 
  • Dole (NYSE:DOLE), 
  • Omega Therapeutics (NASDAQ:OMGA), 
  • RxSight (NASDAQ:RXST) and 
  • Tenaya Therapeutics (NASDAQ:TNYA).

Monday, August 16, 2021

IPOs this week : Aug 16 - 20, 2021 (wk 33)

There are no IPO pricings on the calendar.

IPO lockup expirations
  • TuSimple (NASDAQ:TSP) on August 17. 

IPO quiet period expirations
  • Ryan Specialty Group (NYSE:RYAN), 
  • Paycor HCM (NASDAQ:PYCR), 
  • Vtex (NYSE:VTEX), 
  • Instructure (NYSE:INST), 
  • CS Disco (NYSE:LAW), 
  • Couchbase (NASDAQ:BASE), 
  • Absci (NASDAQ:ABSI), 
  • Kaltura (NASDAQ:KLTR), 
  • Twin Vee PowerCats (NASDAQ:VEEE), 
  • Core & Main (NYSE:CNM), 
  • Caribou Biosciences (NASDAQ:CRBU), 
  • Cytek Biosciences (NASDAQ:CTKB), 
  • Sophia Genetics (NASDAQ:SOPH), 
  • Outbrain (NASDAQ:OB
  • Xponential Fitness (NYSE:XPOF), 
  • Gambling Group (NASDAQ:GAMB) and 
  • US Century Bank (NASDAQ:USCB).

Monday, August 9, 2021

Axsome Therapeutics (AXSM) : disappointing regulatory update for AXS-05

 Disappointing regulatory update for AXS-05 as a potential treatment for major depressive disorder (MDD).  
  • Specifically, Axsome revealed during its 2021 second-quarter earnings release this morning that the U.S. Food and Drug Administration (FDA) had notified the company on July 30, 2021 that it has identified deficiencies within the drug's regulatory application that preclude discussion of labeling and post-marketing requirements at this time. A final decision on AXS-05's regulatory review for MDD is currently slated for Aug. 22, 2021.

 
 



The company announced that AXS-05 met the primary and key secondary endpoints in the Phase 2 MERIT trial and "substantially and statistically significantly prevented relapse of depressive symptoms compared to placebo in patients with treatment resistant depression." Co further stated, among various business updates, that as part of the ongoing review of its NDA for AXS-05, the FDA recently notified co that it has identified deficiencies that preclude labeling discussions at this time; the development may lead to a delay in the potential approval of AXS-05. Co also reported Q2 results. At 52-week lows.

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New York, NY-based Axsome Therapeutics (NASDAQ:AXSM) had its IPO on Nov 20, 2015 IPO. The stock opened at $9.00 on its first day of trading.

The clinical stage biopharmaceutical firm develops therapies for the management of pain and disorders of the central nervous system (CNS). Its lead product candidate is Phase 3-stage AXS-02 (disodium zoledronate tetrahydrate), a non-opioid therapeutic for chronic pain. The company is targeting three specific areas for development: complex regional pain syndrome, osteoarthritis of the knee associated with bone marrow lesions and chronic low back pain associated with Modic changes (changes in bones of the spine). Its second candidate is Phase 3-stage AXS-05, a fixed dose of combination of dextromethorphan and bupropion, for treatment-resistant depression and Alzheimer's disease-associated agitation.

IPOs this week : Aug 9 - 13, 2021 (wk 32)

IPOs expected to price
  • Veterinary biotech company PetVivo (PETV) is expected to start trading on August 11. 

IPO quiet period expirations
  • F45 Training (FXLV), Membership Collective Group (MCG), Phillips Edison & Co (PECO), Rapid Micro Biosystems (RPID), Sight Sciences (SGHT), Blend Labs (BLND), Erasca (ERAS), Imago Biosciences (IMGO), Stevanato (STVN) Blue Foundry (BLFY) and more. 

IPO lockup expirations
  • Signify Health (SGFY), Viant Technology (DSP), Apria (APR), Bumble (BMBL), Bioventus (BVS), LoanDepot (LDI), Decibel Therapeutics (DBTX), NexImmune (NEXI) and Talis Biomedical (TLIS).

Monday, August 2, 2021

IPOs this week : Aug 2 - 6, 2021 (wk 31)

 
IPOs expected to price
  • Better Being (BBCO), European Wax Center (EWCZ) Cadre (CDRE), Weber (WEBR) and WCG Clinical (WCGC). 
IPO quiet period expirations
  • Agriforce Growing Systems (AGRI), Moving Image Technologies (MITQ), TransCode Therapeutics (RNAZ) and Sentage (SNTG). 
IPO lockup expirations
  • Vor BioPharma (VOR), Pharvaris (PHVS), Lucira Health (LHDX), Terns Pharmaceuticals (TERN), Angion Biomedica (ANGN), Valneva (VALN), Evaxion Biotech (EVAX) and CN Energy Group (CNEY).