US IPO Week Ahead: The IPO market cools off in a 2 IPO week


Following an active September, two IPOs are scheduled to raise $200 million in the week ahead.

Several companies could join the IPO calendar early in the week, such as Spruce Biosciences (SPRB), Shattuck Labs (STTK), and Kronos Bio (KRON).

Live TV streaming platform fuboTV (FUBO) plans to raise $150 million at a $1.4 billion market cap. Launched in 2015, fuboTV offers subscribers access to live sporting events annually as well as leading news and entertainment content through streaming devices. Fast-growing and highly unprofitable, fuboTV had over 300,000 paid subscribers in 2019. The company is currently listed on the OTCQB under the symbol FUBO.  

Commercial-stage regenerative medical product maker Aziyo Biologics (AZYO) plans to raise $50 million at a $177 million market cap. Through its proprietary tissue processing platforms, the company has developed a portfolio of advanced regenerative medical products designed to be similar to natural biological material. While gross margin increased in the 1H20, revenue declined and losses widened.

U.S. IPO Calendar
Issuer
Business
Deal Size
Market Cap
Price Range
Shares Filed
Top
Bookrunners
Aziyo Biologics (AZYO)
Silver Spring, MD
$50M
$177M
$16 – $18
2,941,176
Piper Sandler
Cowen
Makes regenerative medical products for various tissue types.
fuboTV (FUBO)
New York, NY
$150M
$1,374M
$9 – $11
15,000,000
Evercore ISI
BMO
Offers a live TV sports-first streaming platform under the name fuboTV.

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Street research is expected for Lightspeed POS (LSPD) on Tuesday, 10/06.

Lock-up periods will be expiring for Keros Therapeutics (KROS) on Monday, 10/5, and Inventiva (IVA) on Thursday, 10/8.

Renaissance Capital recently released its Quarterly Reviews for the US and Global IPO markets, exploring the third quarter’s record-breaking activity, best and worst performers, and outlook for the rest of 2020.
– The 3Q 2020 US IPO Market Review 

IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 10/1/20, the Renaissance IPO Index was up 72.2% year-to-date, while the S&P 500 was up 4.6%. Renaissance Capital’s IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was up 32.1% year-to-date, while the ACWX was down 4.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Meituan-Dianping and SoftBank.

The article US IPO Week Ahead: The IPO market cools off in a 2 IPO week originally appeared on IPO investment manager Renaissance Capital’s web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital’s research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital’s Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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