Image Source: www.gotcredit.com via FlickrShares of ServiceTitan jumped as much as 42% on Thursday when the cloud software vendor made its Nasdaq debut. ServiceTitan is the first significant tech company to go public since Rubrik’s (RBRK) debut back in April and Reddit’s debut (RDDT) a month prior.
Latest IPOs and Direct Listings
NetClass Technology (NTCL) opened on Dec. 13 at $5.25. The company had priced its initial public offering of 1.8 million shares at a public offering price of $5.00 per share. NetClass is a business-to-business education specialist with offices in Shanghai, Hong Kong, and Singapore, providing IT solutions to schools, training institutions, corporations, public agencies, and other organizations.Syndicate Anteris Technologies (AVR) opened on Dec. 13 at $6. The company had priced 14.8 million shares at $6.00. Anteris, a structural heart company that says it is “committed to discovering, developing and commercializing innovative medical devices designed to improve the quality of life for patients with aortic stenosis,” intends to use the net proceeds to it from the offering, together with its existing cash and cash equivalents, primarily for the ongoing development of its DurAVR transcatheter heart valve and the preparation and enrollment of a randomized global pivotal study of DurAVR THV for treating severe aortic stenosis.ServiceTitan (TTAN) opened on Dec. 12 at $101. The company had priced 8.8 million shares at $71.00. The deal was priced above the $65.00-$67.00 target range. ServiceTitan says its cloud-based, end-to-end software platform “gives contractors the tools they need to run and grow their business, manage their back office, and provide a stellar customer experience.”
End-of-the-Week Performance
Recent IPOs to Watch
Heritage Distilling (CASK), Ming Shing (MSW), and Dynamix (DYNX) are among stocks that could see new coverage roll out this upcoming week as the quiet periods for banks that underwrote the companies’ IPOs expire.
Upcoming IPOs
Upcoming IPO and direct listings expected include Infinity Natural Resources, Basel Medical Group, EPWK Holdings, Fast Track Group, Rivus, and ShipBob.Infinity Natural Resources filed for an initial public offering of its Class A common stock. The company intends to list its stock on the NYSE under the symbol “INR.” Infinity Natural Resources is an independent exploration & production company that is “dedicated to the Appalachian region.”Basel Medical Group filed for an initial public offering on the Nasdaq under the symbol “BMGL.” Cathay Securities is serving as the underwriter on the deal. Basel is a healthcare provider across Singapore and Southeast Asia.EPWK Holdings filed an initial public offering of 2.75 million Class A ordinary shares. The company expects the initial public offering price will be between $4.00-$6.00 per Class A ordinary share, and has applied to list the shares on the Nasdaq Global Market under the symbol “EPWK.”Fast Track Group filed for an initial public offering of 3 million ordinary shares. It is currently estimated that the initial public offering price per share will be between $4.00-$5.00. The company has applied to list its shares on the Nasdaq Capital Market under the symbol “FTRK.”ShipBob has selected JPMorgan (JPM) to lead its planned listing, Bloomberg’s Amy Or, Gillian Tan, and Ryan Gould reported earlier this year, citing people familiar with the situation. The Chicago-based e-commerce fulfillment service provider has also chosen Citigroup (C) as part of the syndicate, the authors said. An initial public offering could occur as soon as later this year and could value the company at $4 billion, the authors noted.Rivus Pharmaceuticals, a drug developer focused on obesity treatments, is considering a US initial public offering as soon as 2024, Bloomberg’s Bailey Lipschultz reported earlier, citing people familiar with the matter. The company is working with banks on a listing, said those cited. Rivus, which counts RA Capital Management among its investors, may target raising more than $25 million, one of the people added.More By This Author:Wall Street’s Top 10 Stock Calls This Week – Saturday, Dec. 14Jinxin Technology, ZSpace Make Public DebutsWall Street’s Top 10 Stock Calls This Week – Saturday, Dec. 7
