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