17 IPOs are slated to raise $9.1 billion in the week ahead, led by long-awaited Chinese ride-hailing giant DiDi Global (NYSE: DIDI) which is scheduled to make its billion-dollar debut.
DiDi
DiDi is aiming for a market cap of of $67.5 billion. China’s dominant ride-hailing app expects to raise more than $4 billion in its IPO which could be one of the year’s largest. With 15 million drivers across 4,000 cities, Didi ranks among the five largest privately held start-ups in the world, backed up by SoftBank Group Corp (OTC: SFTBY), Uber (NYSE: UBER) and Tencent (OTC: TCEHY). Revenue more than doubled in the first quarter of the year for this unprofitable company with an accumulated deficit that has been probed by China’s regulators due to anti-trust violations.
SentinelOne
Cybersecurity platform which provides an AI-powered and automated cybersecurity defence, SentinelOne (NYSE: S), plans to raise $880 million at an $8.2 billion market cap. Fast growing and unprofitable, it counts 4,700 customers as of April 30 th .
D-MARKET Electronic Services & Trading
Istanbul-based e-commerce platform D-MARKET Electronic Services & Trading (NASDAQ: HEPS) plans to raise $681 million at a $3.9 billion market cap. Under the name Hepsiburada, it connected 33 million members, 9 million Active Customers, and a base of approximately 45 thousand Active Merchants last year. Although fast growing, EBITDA turned negative during the first quarter of the year.
Krispy Kreme
A brand famous for its glazed doughnuts, Krispy Kreme (NASDAQ: DNUT) plans to raise $600 million at a $3.8 billion market cap. An omni-channel business operating through a network of doughnut shops, partnerships with retailers, and an e-Commerce and delivery business, it has a long track record and strong brand awareness, but it has yet to prove its growth strategy.
LegalZoom.com
At its second IPO attempt, the legal solutions provider LegalZoom.com (NASDAQ: LZ) plans to raise $488 million at a $5.3 billion market cap. It claims to be a leading online platform for legal and compliance solutions that helped form 10% of new LLCs and 5% of new corporations in the US last year. During the first quarter, it was profitable on an EBITDA basis, operating across all 50 states in the US.
Clear Secure
Identity verification platform Clear Secure (NYSE: YOU) targets to raise $396 million at a $4.34 billion market cap. Its secure identity platform uses biometric technology to validate identity. As of the end of May, its network included 38 airports, 26 sports and entertainment partners, along with 67 Health Pass-enabled partners.
Dingdong
Chinese grocery delivery platform Dingdong (NYSE: DDL) pegged its valuation at $6 billion, hoping to raise $343 million. With fresh groceries as its core product categories, this unicorn Shanghai-based company is unprofitable but with explosive growth, claiming to be the fastest growing on-demand e-commerce company in China.
EverCommerce
A leading provider of integrated, vertically-tailored SaaS solutions for service-based SMBs serves over 500,000 customers, EverCommerce (NASDAQ: EVCM) set the terms for a $3.4 billion IPO, hoping to raise $325 million. The business has three core verticals: Home Services, Health Services, and Fitness & Wellness Services.
Intapp
A provider of industry-specific, cloud-based software solutions for the professional and financial services industry across the globe, Intapp (NASDAQ: INTA) filed for a $278 million IPO. As of March 31 st , it had over 1,600 clients and it currently has more than 20 clients with contracts greater than $1 million of ARR. It is aiming for a market cap of $1.9 billion.
Xometry
Online manufacturing marketplace Xometry (NASDAQ: XMTR) proposed to raise $275 million at a $1.9 billion market cap. As an AI-enabled marketplace for on-demand manufacturing, its buyers include businesses ranging from self-funded start-ups to Fortune 100 companies. Since its inception, over 6 million parts have been manufactured through its platform.
Integral Ad Science Holding
Integral Ad Science Holding (NASDAQ: IAS) is pursuing a $240 million IPO with a value of $2.5 billion. The company’s technology provides metrics designed to verify that digital ads are served to a real person, viewable on-screen, and appear in a brand-safe and suitable environment in the correct geography. It is profitable on an EBIT basis.
Torrid Holdings
Plus-sized women’s apparel brand Torrid Holdings (NYSE: CURV) filed for a rare public debut in the mall sector, aiming to raise $156 million, valuing the company at $2.1 billion. By net sales, this profitable company is the largest direct-to-consumer brand of women’s plus-size apparel and intimates in North America.
Acumen Pharmaceuticals
Alzheimer’s biotech Acumen Pharmaceuticals (NASDAQ: ABOS) plans to raise $125 million at a $607 million market cap. Its lead candidate, ACU193, is a humanized monoclonal antibody that selectively targets amyloid-beta oligomers. Currently in Phase 1 trial in patients with mild dementia or cognitive impairment due to AD, data is expected the end of 2022.
AMTD Digital
Digital financial services provider in Asia, AMTD Digital (NYSE: HKD) aims to raise $120 million, valuing the company at $1.4 billion. Profitable with explosive growth, it generates revenue from fees and commissions from two business lines.
Aerovate Therapeutics
Drug formulation developer Aerovate Therapeutics (NASDQ: AVTE) plans to raise $100 million at a $325 million market cap. Its is focused on advancing AV-101, a dry powder inhaled formulation of imatinib for the treatment of pulmonary arterial hypertension, with a completed a Phase 1 study in healthy volunteers, and Phase 2b/3 trial in PAH patients scheduled to begin.
CVRx
Neuromodulation device provider that manufactures and markets its minimally invasive neuromodulation solutions on its proprietary platform, CVRx (NASDAQ: CVRX) plans to raise $100 million at a $333 million market cap. With a first-of-its-kind FDA approval under its belt, it claims its BAROSTEM NEO is the first and only commercially available neuromodulation device that improves symptoms for patients with heart failure with reduced ejection fraction.
Nyxoah
Belgium-listed Nyxoah (NASDAQ: NYXH) plans to raise $87 million at an $803 million market cap. Its lead product is a CE-marked, minimally-invasive hypoglossal neurostimulation therapy for obstructive sleep apnea. It began generating revenue from Genio in Europe last July and is currently conducting a pivotal trial to support authorization in the US.
By the looks of it, the IPO market is on fire- so much we can argue that it has never been hotter.
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