Shares of Sprinklr fell almost 9% in their market debut on Wednesday, valuing the startup at $3.7B. The software company counts Microsoft (MSFT) and Verizon (VZ) as customers.

LATEST IPOS AND DIRECT LISTINGS:

Missfresh (MF) opened on June 25 at $10.65. The company had priced 21M shares at $13.00, at the low-end of the $13.00-$16.00 range. JPMorgan and Citi acted as joint book running managers for the offering. MissFresh is a Chinese online grocer backed by Tencent (TCEHY).

Elevation Oncology (ELEV) opened on June 25 at $14. The company had priced 6.25M shares at $16.00. The deal priced at the midpoint of the $15.00-$17.00 range. JPMorgan, Cowen and SVB Leerink acted as joint book running managers for the offering. Elevation is a clinical stage biopharmaceutical company focused on the development of precision medicines for patients with genomically defined cancers.

Alpha Teknova (TKNO) opened on June 25 at $20.72. The company had priced 6M shares at $16.00. The deal size was increased to 6M shares from 5M shares and priced at the high-end of the $14.00-$16.00 range. Cowen and William Blair acted as joint book running managers for the offering. Alpha Teknova is a provider of critical reagents for the development and production of biopharmaceutical products including drug therapies, novel vaccines, and molecular diagnostics.

Mister Car Wash (MCW) opened on June 25 at $18.90. The company had priced 31.25M shares at $15.00, at the low-end of the $15.00-$17.00 range. BofA and Morgan Stanley acted as joint book running managers for the offering. Mister Car Wash operates over 340 car washes in the U.S

Graphite Bio (GRPH) opened on June 25 at $22.10. The company had priced 14M at $17. The deal size was increased to 14M shares from 12.5M and priced at high end of $15.00-$17.00 range. Morgan Stanley, BofA, Cowen and SVB Leerink acted as joint book running managers for the offering. Graphite Bio is a clinical-stage, next-generation gene editing company focused on therapies that harness targeted gene integration to treat or cure serious diseases.

GH Research (GHRS) opened on June 25 at $22. The company had priced 10M shares at $16.00. The deal size was increased to 10M shares from 8.3M shares and priced at the high-end of the $14.00-$16.00 range. Cowen and Stifel acted as joint book running managers for the offering. GH Research is a clinical-stage biopharmaceutical company seeking to transform the treatment of psychiatric and neurological disorders with an initial focus on developing its novel and proprietary 5- Methoxy-N,N-Dimethyltryptamine, or 5-MeO-DMT, therapies for the treatment of patients with Treatment Resistant Depression, or TRD.

Acurx (ACXP) opened on June 25 at $5.95. The company had priced 2.5M shares at $6.00. The deal priced at the midpoint of the $5.00-$7.00 range. Alexander Capital and Network 1 Financial acted as joint book running managers for the offering. Acurx is a clinical stage biopharmaceutical company developing a new class of antibiotics for difficult-to-treat bacterial infections.

Doximity (DOCS) opened on June 24 at $41.17. The company had priced 23.3M shares at $26.00. The deal priced above the $20.00-$23.00 range. Morgan Stanley, Goldman Sachs and JPMorgan acted as joint book running managers for the offering. Doximity operates a digital platform for U.S. medical professionals and says its network members include over 80% of U.S. physicians across all specialties and practice areas.

Confluent (CFLT) opened on June 24 at $44. The company had priced 23M shares at $36.00. The deal priced above the $29.00-$33.00 range. Morgan Stanley, JPMorgan, Goldman Sachs, Citi, BofA, Credit Suisse, Barclays, Deutsche Bank, UBS and Wells Fargo acted as joint book running managers for the offering. Confluent says its cloud-native offering is the "foundational platform for data in motion - designed to be the intelligent connective tissue enabling real-time data, from multiple sources, to constantly stream" across organizations.

Monte Rosa (GLUE) opened on June 24 at $22. The company had priced 11.7M shares at $19.00. The deal size was increased to 11.7M shares from 9.75M and priced at the high end of the $17.00-$19.00 range. JPMorgan, Cowen, Piper Sandler and Guggenheim acted as joint book running managers for the offering. Monte Rosa Therapeutics is a biotechnology company developing a portfolio of novel small molecule precision medicines that employ the body's natural mechanisms to selectively degrade therapeutically relevant proteins.

Bright Health (BHG) opened on June 24 at $17. The company had priced 51.35M shares at $18.00. The deal size was reduced to 51.35M shares from 60M shares and priced below the $20.00-$23.00 range. JPMorgan, Goldman Sachs, Morgan Stanley and Barclays acted as joint book running managers for the offering. Bright Health Group is a healthcare company that is building a national, integrated system of care with two market facing businesses: NeueHealth and Bright HealthCare.

Grove (GRVI) opened on June 24 at $5. The company had priced its initial public offering of 2.2M shares of common stock at a public offering price of $5.00 per share. EF Hutton, division of Benchmark Investments, acted as the sole book-running manager for the offering. Grove is in the business of developing, producing, marketing and selling raw materials, white label products and end consumer products containing the industrial hemp plant extract, cannabidiol.

Miromatrix Medical (MIRO) opened on June 24 at $12. The company had priced its initial public offering of 4.8M shares of common stock at a price to the public of $9.00 per share. The offering was made through Craig-Hallum Capital Group, which acted as sole managing underwriter for the offering. Miromatrix Medical is a life sciences company with a technology for bioengineering fully transplantable human organs.

Bon Natural Life (BON) opened on June 24 at $6.30. The company had priced its initial public offering of 2.2M ordinary shares at a public offering price of $5.00. U.S. Tiger Securities and Newbridge Securities acted as co-lead book running managers, and R.F. Lafferty & Co. acted as the joint lead book running manager. Bon Natural Life is a bio-ingredient solutions provider in the natural, health and personal care industries.

First Advantage (FA) opened on June 23 at $19.85. The company had priced 25.5M shares at $15.00. The deal size was increased to 25.5M shares from 21.25M and priced at the top end of the $13.00-$15.00 range. Barclays, BofA and JPMorgan acted as joint book running managers for the offering. First Advantage is a provider of technology solutions for screening, verifications, safety and compliance related to human capital.

Sprinklr (CXM) opened on June 23 at $14.60. The company had priced 16.625M shares at $16.00. The deal size was reduced to 16.625M shares from 19M and priced below the $18.00-$20.00 range. Morgan Stanley, JPMorgan, Citi, Barclays and Wells Fargo acted as joint book running managers for the offering. Sprinklr operates what it calls "the unified platform for all customer-facing functions," or "Unified-CXM," to help companies "deliver human experiences to every customer, every time, across any modern channel, at a once impossible scale."

Full Truck Alliance (YMM) opened on June 22 at $22.50. The company had priced 82.5M shares at $19.00, at the high-end of the $17.00-$19.00 range. Morgan Stanley, China International and Goldman Sachs acted as joint book running managers for the offering. Full Truck Alliance operates a digital freight platform in China that connects shippers with truckers.

PERFORMANCE:

• After opening at $10.65, Missfresh finished Friday at $9.66.
• Elevation Oncology ended the week at $11.44.
• Alpha Teknova finished Friday at $25.
• After opening at $18.90, Mister Car Wash ended the week at $20.30.
• Graphite Bio finished Friday at $18.50.
• GH Research ended the week at $19.25.
• After opening at $5.95, Acurx finished Friday at $7.89.
• Doximity finished Friday at $55.98.
• Confluent ended the week at $46.15.
• Monte Rosa finished Friday at $18.86.
• After opening at $17, Bright Health ended the week at $17.25.
• Grove finished Friday at $7.86.
• Miromatrix Medical ended the week at $12.75.
• After opening at $6.30, Bon Natural Life finished Friday at $7.50.
• First Advantage ended the week at $20.52.
• Sprinklr finished Friday at $20.54.
• After opening at $22.50, Full Truck Alliance ended the week at $19.73.

RECENT IPOS TO WATCH:

dLocal (DLO) is 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 [with requested tickers] expected include Didi Chuxing (DIDI), Qiniu (QNIU), NerdWallet, Save Foods (SVFD), Regencell Bioscience (RGCB), Camposol (CMSL), Rivian, Krispy Kreme (DNUT), Clear Secure (YOU), Spark Education (SPRK), Sweetgreen, Blend Labs (BLND), SentinelOne (S), Warby Parker, Perspectum Group (SCAN), Braze, VTEX (VTEX), and Gambling.com (GAMB).

On June 10, China's largest ride-hailing service, Didi Chuxing, officially filed for an initial public offering through underwriters Goldman Sachs (GS), Morgan Stanley (MS) and J.P. Morgan (JPM). The company intends to list American depositary shares on the Nasdaq Stock Market or New York Stock Exchange under the symbol "DIDI."

On May 28, Bloomberg reported that Rivian, which is backed by Amazon (AMZN) and Ford (F), is said to seek about $70B in a potential IPO and has picked the banks to underwrite the deal, according to Bloomberg. Goldman Sachs, JPMorgan and Morgan Stanley are among those said to be selected to work on bringing the company public, reported Bloomberg's Kiel Porter, Katie Roof, and Edward Ludlow, citing people familiar with the matter.

Krispy Kreme expects its initial public offering of 26,666,667 shares will price between $21.00 and $24.00 per share. "Despite the challenges faced by businesses all over the world during the COVID-19 pandemic, Krispy Kreme continued to grow, reaching the highest level of sales in our brand's history with net revenue of $1.1 billion in fiscal 2020. This speaks to the appeal and resiliency of our brand and market," the company said in a regulatory filing.

Qiniu has filed with the SEC for an initial public offering of its American depositary shares, or ADSs. The company said in its filing with the SEC that it intends to apply to list the ADSs representing its Class A ordinary shares on the Nasdaq Global Select Market under the symbol "QNIU." Qiniu describes itselfs as "China's leading cloud-based Platform-as-a-Service provider as measured by revenue in 2020, focusing on media and machine data, pioneering an integrated, one-stop 'cloud + data' platform that empowers enterprise customers across a wide spectrum of industries."

On May 14, Reuters reported that consumer financial advice website owner NerdWallet has hired a group of investment banks, led by Morgan Stanley, to arrange an initial public offering and confidentially submitted paperwork to SEC in advance of its plans to come public. The personal finance startup aims to go public before the end of the year and could seek a valuation of as much as $5B, Reuters' sources reportedly said.

Save Foods has filed with the SEC for an initial public offering and applied to list its common stock on the Nasdaq Capital Market under the symbol "SVFD." The common stock is currently traded on the OTC Markets, Pink Open Market, under the symbol "SAFO." Save Foods develops products to improve the food safety and shelf life of fresh produce.

Regencell Bioscience has filed a prospectus with the SEC for an initial public offering of its ordinary shares and has applied to list its ordinary shares on the Nasdaq Capital Market under the symbol "RGCB." Regencell Bioscience Holdings is developing formulations of traditional Chinese medicine for ADHD and ASD.

Camposol Holding, a global provider of fresh and healthy foods, has filed with the SEC regarding a planned initial public offering.  

Clear Secure has filed with the SEC for an initial public offering of shares of Class A common stock and intends to apply to list the Class A common stock on the New York Stock Exchange under the symbol "YOU."

Spark Education has filed with the SEC for an initial public offering of American depositary shares, or ADSs, representing Class A ordinary shares of Spark Education Limited. In the filing, Spark said that, "We are a pioneer and innovator in China's K-12 after-school tutoring, or AST, market, offering foundational learning services to K-12 students. According to CIC, we are the first online education company to develop and offer online small-class foundational learning courses on a large scale. As a result of our unique approach to learning, we have become China's largest online small-class education company in terms of gross billings in 2020 and the number of students as of December 31, 2020, according to CIC."

Sweetgreen announced that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its Class A common stock. The initial public offering is expected to commence after the SEC completes its review process, subject to market and other conditions.

Blend Labs announced that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its Class A common stock. Goldman Sachs, Allen & Company, and Wells Fargo are acting as lead book-running managers for the proposed offering.

SentinelOne, an autonomous cybersecurity platform company, announced that it plans to commence the roadshow for its proposed initial public offering. SentinelOne has filed a registration statement to offer 32M shares and the offering price is expected to be between $26.00 to $29.00 per share.

Warby Parker announced that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed public listing of its Class A common stock. The public listing is expected to take place after the SEC completes its review process, subject to market and other conditions.

Perspectum Group filed with the SEC for an initial public offering of American depositary shares. Perspectum is a commercial-stage precision health company focused on "democratizing" care globally through the use of digital technologies. The company said its software products "combine expertise in image formation, magnetic resonance image analysis and artificial intelligence to support healthcare provider diagnosis, treatment decision-making and monitoring of the progression of chronic metabolic diseases, multi-organ pathologies and cancer, and determine whether the patient is responding to therapy."

Braze announced that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock.  The initial public offering is expected to commence after the SEC completes its review process, subject to market and other conditions.

VTEX filed with the SEC for an initial public offering of its Class A common shares. VTEX provides a software-as-a-service digital commerce platform for enterprise brands and retailers. 84% of its ARR comes from enterprise customers, the filing noted. "Our customers transacted just under US$8 billion of GMV through our platform last year alone. We are leaders in Latin America, the fastest-growing region for ecommerce in the world in 2020. This is a region six years behind other global economies in digital commerce penetration. We know what is coming, and we are prepared to capture that growth. We learned how to scale in a complex region, comprised of multiple countries, cultures, tax systems, and local payment and logistics providers," the filing added.

Gambling.com has filed for an initial public offering. The company intends to apply to list its shares on the Nasdaq stock market under the symbol "GAMB." Jefferies, Stifel, and Truist Securities are acting as the lead underwriters for the offering.