RXRX - U.S. IPO Weekly Recap: Coinbase's Direct Listing Headlines A 9 IPO Week

• The IPO market revved back to life with nine IPOs raising $5.4 billion, joined by crypto exchange Coinbase's direct listing.
• Pipeline activity held steady, with 10 IPOs, six SPACs, and one direct listing submitting initial filings.
• The first major direct listing on the Nasdaq, Coinbase (COIN) opened for trading at $381 (+52% vs. reference price) for an implied market value of $101 billion.
• 10 IPOs submitted initial filings this past week.
• Six SPACs submitted initial filings led by tech SPAC Stillwater Growth I (SWGCU), which filed to raise $300 million, and Fifth Wall's third SPAC Fifth Wall Acquisition III (FWAC), which filed to raise $250 million.

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