Following its busiest week in over a decade, the US IPO market is taking a breather after the holiday with just two IPOs scheduled for the shortened week ahead.
While the calendar is quiet at the moment, several companies are primed to launch, including luxury social club Membership Collective Group (MCG), Wahlberg-backed fitness franchise F45 Training (FXLV), database provider Couchbase (BASE), and consumer banking platform Blend Labs (BLND).
Chinese healthcare data company LinkDoc Technology (LDOC) plans to raise $200 million at a $1.5 billion market cap. This AI-driven healthcare technology company provides a data platform for patient care and clinical research, specifically within oncology. Unprofitable with strong growth, LinkDoc's platform has cumulatively cared for over 3.5 million patients and provided longitudinal care for over 2.5 million patients since 2015.
OTC-list Minim (MINM), which provides intelligent networking products and a WiFi as a Service platform, has not set terms but plans to begin trading in the week ahead. Minim has developed intelligent networking products and a WiFi as a Service platform that powers applications for businesses, service providers, and home users. The company's products can be found in retailers across the US and in over 100 Internet Service Providers broadband offerings.
| U.S. IPO Calendar | |||
|---|---|---|---|
| Issuer Business | Deal Size Market Cap | Price Range Shares Filed | Top Bookrunners |
| Minim (MINM) Manchester, NH | $29M --- | --- --- | B. Riley |
| Provides intelligent networking products and a WiFi as a Service platform. | |||
| LinkDoc Technology (LDOC) Beijing, China | $200M $1,489M | $17.50 - $19.50 10,825,000 | Morgan Stanley BofA |
| Chinese healthcare data company specializing in oncology patients. | |||
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Street research is expected for ten companies, and lock-up periods will be expiring for up to two companies.
This past week, Renaissance Capital released its updated 2Q 2021 US IPO Market Review, exploring the second quarter’s record-breaking activity, best and worst performers, and outlook for the 3Q.
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 7/1/21, the Renaissance IPO Index was up 1.3% year-to-date, while the S&P 500 was up 15.0%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Snowflake (SNOW) and Palantir Technologies (PLTR). The Renaissance International IPO Index was down 1.3% year-to-date, while the ACWX was up 9.6%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Smoore International and EQT Partners.
