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AACQU - U.S. IPO Weekly Recap: nCino Pops 195% In 8-IPO Week
Artius Acquisition Inc. Unit consisting of one ordinary share and one third redeemable warrant
Eight IPOs and six SPACs entered public markets this past week, led by nCino (NCNO), which soared 195% in the biggest first-day pop for a US tech company in nearly 20 years.
Cloud banking software provider nCino upsized and priced above the upwardly revised range to raise $250 million at a $3.0 billion market cap. Fast growing and unprofitable, the company boasts long contracts and a sticky customer base, which includes global financial institutions such as Bank of America (BAC) and Barclays (BCS). Following its record-breaking first day of trading, nCino finished the week up