CLA - U.S. IPO Weekly Recap: BigCommerce's 201% First-Day Pop Breaks Records In An 8-IPO Week
Eight IPOs and nine SPACs entered the public markets this past week led by BigCommerce (BIGC), which soared 201% in the best first-day pop for an IPO over $100 million in 15 years.
E-commerce platform BigCommerce priced above the upwardly revised range to raise $216 million at a $1.8 billion market cap. With accelerating growth and high gross margins, the company benefited from investors' appetite for high-quality tech and now trades nearly in line with close peer Shopify (SHOP), the best-performing IPO of the past decade. BigCommerce continued its ascent in the aftermarket, finishing the