KinderCare Learning Companies (KLC) began trading on the NYSE on Wed 9 Oct 24

Largest provider of early childhood education in U.S. saw healthy demand for its IPO, which raised $576 mln in gross proceeds.

The company was formerly known as KC Holdco, LLC and changed its name to KinderCare Learning Companies, Inc. in January 2022.

• Sector: Consumer Defensive
• Industry: Education & Training Services
• Full Time Employees: 43,560
• Founded in 1969 
• Headquartered in Lake Oswego, Oregon
• https://www.kc-learning.com/

Opened at $27 after pricing 24.0 mln share IPO at $24/share, at the lower end of the $23-27 expected range.

Ticker:  KLC

 

The company, operating under the KinderCare, Creme School, and Champions brands, has a market-leading footprint of more than 1,500 early childhood education centers in the U.S.

In 2015, KLC was acquired by Swiss private equity firm Partners Group, which is retaining a71.1% stake in KLC following the IPO.

For the six months ended June 29, 2024, revenue increased by 6.2% to $1.345 bln. KLC has-been benefiting from the return-to-office trend, and it has also been raising prices. For this same period, operating income fell by 32% yr/yr to $114.2 mln as SG&A costs increased by11% to $169.0 mln.

IPOs this week : Oct 7 - 11, 24 (wk 41)

KinderCare – Lake Oswego, Ore., 24 million shares, priced at $23-$27, managed by Goldman Morgan Stanley. Proposed NYSE symbol KLC. Business: Largest private provider of early childhood education and care services in the US.

Moove – São Paulo, Brazil, 25 million shares, priced at $14.50-$17.50, managed by JP Morgan BofA. Proposed NYSE symbol MOOV. Business: Produces and distributes lubricants for automotive, agricultural, and industrial uses.

Synergy CHC – Westbrook, Maine, 2 million shares, priced at $9-$11, managed by Roth Cap.. Proposed Nasdaq symbol SNYR. Business: Provides consumer health care, beauty, and lifestyle products.

Cuprina Holdings – Singapore, 3.8 million shares, priced at $4-$4.50, managed by Network 1. Proposed Nasdaq symbol CUPR. Business: Singapore-based provider of skincare and chronic wound care products.

Jupiter Neurosciences – Jupiter, Fla., 2.8 million shares, priced at $4-$5, managed by Dominari Securities Revere Sec.. Proposed Nasdaq symbol JUNS. Business: Phase 1 biotech developing an oral therapy for neuro-inflammation.

Diginex – Hong Kong, 2.3 million shares, priced at $4-$6, managed by Dominari Securities Revere Sec.. Proposed Nasdaq symbol DGNX. Business: Provides software that enables businesses to collect, analyze, and report ESG data.

FBS Global – Singapore, 2.3 million shares, priced at $4.50-$5, managed by WallachBeth. Proposed Nasdaq symbol FBGL. Business: Provides interior design and fit-out services in Singapore.

SAG Holdings – Singapore, 1 million shares, priced at $8, managed by Wilson-Davis Dominari Securities. Proposed Nasdaq symbol SAG. Business: Singaporean distributor of spare automotive and industrial parts.

PTL – Singapore, 1.3 million shares, priced at $4-$6, managed by Dominari Securities Revere Sec.. Proposed Nasdaq symbol PTLE. Business: Provides fueling logistic services to commercial ships in the Asia Pacific region.

Libera Gaming Operations – Tokyo, 1.3 million shares, priced at $4-$6, managed by Craft Capital Boustead. Proposed NYSE American symbol LBRJ. Business: Operates pachinko gaming halls in Japan.

Aduro Clean Technologies – London, 1.1 million shares, priced at $4.25-$5, managed by Craft Capital EF Hutton. Proposed NYSE American symbol ADUR. Business: Canadian developer of chemical recycling technologies.

IPOs this week : Nov. 15 - 19, 2021 (wk 46)

IPOs expected to price

• Braze (NASDAQ:BRZE), UserTesting (NYSE:USER), Iris Energy (NASDAQ:IREN), Sono Group (NASDAQ:SEV) on November 17, as well as KC Holdco (NYSE:KLC) and Sweetgreen (NYSE:SG) on November 18. 

Of the bunch, Sono Group is capturing the most attention. The parent company for Sono Motors describes itself as being on a pioneering mission to accelerate the revolution of mobility by making every vehicle solar. The company's Sion solar electric vehicle is expected to be the first of its kind and more than 16K reservations with advance payments have been made. The vehicle will be produced through contract manufacturing with customer deliveries expected to begin in the first half of 2023. Sono Motors (SEV) believes that SEVs will be the next big wave in e-mobility and calls combustion engines a thing of the past. The company wants to take the solar concept to trucks, trailers and buses.

IPO quiet period expirations

• Vita Coco Company (NASDAQ:COCO), Enfusion (NYSE:ENFN), Portillo's (NASDAQ:PTLO), P10 (NYSE:PX), Runway Growth Finance (NASDAQ:RWAY), Stronghold Digital Mining (NASDAQ:SDIG) and Ventyx (VYTX) on November 15. 
• Aris Water Solutions (NYSE:ARIS), Xilio Therapeutics (NASDAQ:XLO) and Minerva Surgical (NASDAQ:UTRS) on November 16.

IPO lockup expirations

• Jiuzi Holdings (NASDAQ:JZXN), Oatly Group (NASDAQ:OTLY), Procore Technologies (NYSE:PCOR) and Virpax Pharmaceuticals (NASDAQ:VRPX).