A total of 29 companies entered the public market this past week, the most ever in a single week. The week’s 11 IPOs were joined by 15 SPACs and three direct listings.
Notable new IPO filings included TPG-backed antivirus provider McAfee (MCFE), Vista Equity’s IT software provider Datto (MSP), and three mortgage companies.
We also released our 3Q US Review, and updated our blog post on SPAC performance.
Data analytics unicorn Palantir (PLTR) opened 38% above its reference price, beginning trading at $10 for an implied $22.2 billion market cap. Work management SaaS Asana (ASAN) opened 29% above the reference price with its first trade at $27, implying a $5.0 billion market cap. Both deals had healthy volume on day one. While recent software IPOs have outperformed, the high-growth large-loss direct listings weren’t able to find support in the public market, and traded off from their opens. From their opening