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), 

• CVRx (NASDAQ:CVRX), 

• 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.

IPOs this week : Feb 22 - 26, 2021 (wk 8)

IPO quiet period expirations

• Ortho Clinical Diagnostics (NASDAQ:OCDX), 
• Shoals Technologies Group (NASDAQ:SHLS), 
• Vinci Partners (NASDAQ:VINP), 
• Qualtrics (NASDAQ:XM), 
• ZIM Integrated Shipping (NYSE:ZIM), 
• Home Point Capital (NASDAQ:HMPT) and 
• Trinity Capital (OTCQX:TRIN). 

IPO lockup expirations

• JFrog (NASDAQ:FROG) expires on February 22, 
• as well as on both Montrose Environmental Group (NYSE:MEG) and Xpeng Motors (NYSE:XPEV) on February 23.

Xpeng Motors (XPEV) began trading on the NYSE on Wed 26 Aug 20

Xpeng Motors stock shot up 42% to 21.30 in Thursday's debut under the ticker XPEV. Shares hit 25 intraday.

• Xpeng is the third Chinese electric vehicle startup to go public in New York after Nio's (NIO) $1 billion IPO two years ago and Li Auto's (LI) recent $1.1 billion IPO.
• Electric car stocks have benefited both from Tesla's surge this year and as governments and automakers promote emissionless technology.

Earlier, the Guangzhou-based company sold 99.7 million American depositary shares at 15 a share, raising nearly $1.5 billion. Xpeng originally planned to sell 85 million shares at $11-$13 each.

An IPO filing describes the company as producing two premium electric vehicles, the G3 SUV and the four-door P7 sports sedan. P7, which launched at the end of June, is a rival to the Tesla Model 3 in China. A third model is expected in 2021.

Xpeng also offers an optional autonomous driving system. It targets the mid- to high-end China electric car market, as do Chinese rivals Li Auto and Nio.

Founded in 2015, Xpeng is unprofitable and revenue dived 19% in the first half of 2020 as the coronavirus pandemic hit sales.

IPOs this week : August 24 - 28, 20 (wk 35)

IPOs expected to price
Xpeng Motors (XPEV) is the only IPO expected to price next week. The Chinese EV automaker hopes to raise more than $1B with the offering as it looks to compete with Nio (NYSE:NIO) and Li Auto (NASDAQ:LI).

IPO quiet period expirations

• Vertex (NASDAQ:VERX) and Li Auto (LI) on August 24
• Vital Farms (NASDAQ:VITL), AlloVir (NASDAQ:ALVR) and Fathom Holdings (NASDAQ:FTHM) on August 25. 

IPO lockup expirations

• Passage Bio (NASDAQ:PASG) on August 26. 

Also of interest to the IPO world, Y Combinator’s latest batch of startups present to an invite-only audience of approximately 1,000 investors and media next week. Stripe, Airbnb, Cruise Automation, DoorDash, Coinbase, Instacart, Dropbox and Twitch have all come out of the startup accelerator.