The IPO calendar is relatively quiet for the moment, with one IPO and one SPAC scheduled for the week ahead. It won’t stay that way for long.

Several companies could launch early in the week to kick off the December IPO blitz. Online restaurant delivery service DoorDash (DASH) and short-term booking platform Airbnb (ABNB) are primed to lead the unicorn stampede, expected to raise $2 billion and $3 billion, respectively. Other potential launches include enterprise AI software provider C3.ai (AI) and biotechs Kinnate Biopharma (KNTE), BioAtla (BCAB), and Sigilon Therapeutics (SGTX).

Chinese education technology group 17 Education & Technology Group (YQ) plans to raise $288 million at a $2.2 billion market cap. The company’s smart in-school classroom solution delivers data-driven teaching, learning, and assessment products to teachers, students, and parents across 70,000+ K-12 schools. Boosted by pandemic-driven demand for online educational tools, revenue nearly quadrupled in the 9mo20, though the company remained highly unprofitable.

Seaport Global Acquisition (SGAMU) plans to raise $125 million to acquire companies emerging from a reorganization or distressed situation. The SPAC is led by The Seaport Group and Seaport Global Asset Management founder Stephen Smith.

U.S. IPO Calendar

Issuer
Business

Deal Size
Market Cap

Price Range
Shares Filed

Top
Bookrunners

Seaport Global Acq.
New York, NY

$125M
$156M

$10
12,500,000

B. Riley FBR

Blank check company formed by Seaport Global Asset Management targeting distressed businesses.

17 Education & Tech
Beijing, China

$288M
$2,229M

$9.50 – $11.50
27,400,000

Goldman (Asia)
Morgan Stanley

Provides online K-12 tutoring services in China.

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Lock-up periods will be expiring for seven companies. On Monday, 11/30: Pliant Therapeutics (NASDAQ:PLRX). On Tuesday, 12/1: Warner Music Group (NASDAQ:WMG) and ZoomInfo (NASDAQ:ZI). On Wednesday, 12/2: Applied Molecular Transport (NASDAQ:AMTI), Dada Nexus (NASDAQ:DADA), Legend Biotech (NASDAQ:LEGN), and Shift4 Payments (NYSE:FOUR).

IPO Market Snapshot

The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 11/25/20, the Renaissance IPO Index was up 96.3% year-to-date, while the S&P 500 was up 12.3%. Renaissance Capital’s IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Uber (NYSE:UBER) and Zoom Video (NASDAQ:ZM). The Renaissance International IPO Index was up 37.9% year-to-date, while the ACWX was up 6.0%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Meituan-Dianping and SoftBank.

Original Post

Editor’s Note: The summary bullets for this article were chosen by Seeking Alpha editors.



Via SeekingAlpha.com

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