16 IPOs are set to make this the busiest week for the US IPO market since December 2006.
Driven by faster IPO timelines and momentum from last year, 2021 is positioning itself to be a banner year for the IPO market, and this latest milestone joins a growing list. Already, the US IPO market has had its busiest January and the most billion-dollar IPOs in a single month ever. It’s also on track to post its busiest February in over two decades.
Year-to-date, IPOs have generally been well received, averaging a 38% first-day pop and a total return of 37% from issue. A few cracks emerged last week, when half of the week’s IPOs finished below issue on the first day, and one offering postponed. However, the overall IPO market is still as hot as ever; after more than doubling in 2020, the Renaissance IPO Index is up 7.3% year-to-date, compared to the S&P 500’s 0.6% return.
The US IPO market should get a breather in the second half of the month, due to the Presidents’ Day holiday (February 15), and as companies complete fiscal 2020 audits.
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| 16 IPOs Scheduled in the Busiest Week for the US IPO Market since 2006 | |
|---|---|
| Issuer Business |
Deal Size Market Cap |
| ON24 (ONTF) San Francisco, CA |
$428M $2,770M |
| Provides a B2B customer engagement platform supporting webinars and analytics. | |
| TELUS International (TIXT) Vancouver, Canada |
$925M $6,638M |
| Provides customer service outsourcing and digital IT services. | |
| Atotech (ATC) Berlin, Germany |
$700M $3,774M |
| Carlyle-backed specialty chemicals company carved out of Total. | |
| Evaxion Biotech (EVAX) Copenhagen, Denmark |
$30M $233M |
| Danish Phase 1/2 biotech using AI to develop immuno-oncology therapies. | |
| Landos Biopharma (LABP) Blacksburg, VA |
$100M $650M |
| Phase 2 biotech developing oral small molecule therapies for autoimmune diseases. | |
| loanDepot (LDI) Foothill Ranch, CA |
$300M $6,500M |
| Nonbank lender focused on mortgages and unsecured personal loans. | |
| Sana Biotechnology (SANA) Seattle, WA |
$323M $4,045M |
| Preclinical biotech developing engineered cell therapies for multiple indications. | |
| urban-gro (UGRO) Lafayette, CO |
$45M $97M |
| Provides equipment and services for the commercial indoor horticulture market. | |
| Angion Biomedica (ANGN) Uniondale, NY |
$75M $489M |
| Phase 3 biotech developing small molecule therapies for acute organ injuries. |
|
| Bolt Biotherapeutics (BOLT) Redwood City, CA |
$150M $596M |
| Phase 1/2 biotech developing targeted therapies for solid tumors. |
|
| Immunocore (IMCR) Abingdon, United Kingdom |
$200M $998M |
| Phase 3 biotech developing T cell therapies for cancer and other diseases. |
|
| Lucira Health (LHDX) Emeryville, CA |
$125M $644M |
| Developing single-use test kits for COVID-19 and other infectious diseases. |
|
| Pharvaris (PHVS) Leiden, Netherlands |
$125M $576M |
| Dutch Phase 1 biotech developing small molecule therapies for rare diseases. |
|
| Sensei Biotherapeutics (SNSE) Rockville, MD |
$100M $508M |
| Phase 2 biotech developing bacteriophage-based therapies for cancer. |
|
| Terns Pharmaceuticals (TERN) Foster City, CA |
$100M $384M |
| Phase 2 biotech developing small molecule therapies for NASH. |
|
| Vor Biopharma (VOR) Cambridge, MA |
$150M $654M |
| Phase 1/2 biotech developing cell therapies for hematological diseases. |
|
