Opening Day: E-Commerce Company Global-e Valued At $3.6b In Debut

The New York Stock Exchange building.

Global-e Online opened 3% below its IPO price before trading higher on Wednesday. Shares of the cross-border e-commerce platform rose as much as 1% in their Nasdaq debut, giving Global-e a market capitalization of about $3.6B.

LATEST IPOS AND DIRECT LISTINGS:

Vera Therapeutics (VERA) opened on May 14 at $11.41 after having priced 4.35M shares at $11.00, below the $14.00-$16.00 range. Jefferies, Cowen and Evercore ISI acted as joint book running managers for the offering. Vera Therapeutics is a clinical-stage biotechnology company focused on developing and commercializing treatments for patients with serious immunological diseases whose lead program is atacicept, a fusion protein that is in development for IgA nephropathy.

Digital Brands (DBGI) opened on May 14 at $4.14 after having priced 2.41M shares at $4.15. Kingswood acted as sole book running manager for the offering. Digital Brands offers apparel through numerous brands on a both direct-to-consumer and wholesale basis.

E-Home Household Service (EJH) opened on May 14 at $16.60. The household service company based in Fuzhou, China that provides integrated household services through its website and WeChat platform, priced its initial public offering of 5.56M ordinary shares at a public offering price of $4.50 per share. Joseph Stone Capital acted as the lead underwriter for the offering.

Similarweb (SMWB) opened on May 12 at $20.76. The company had priced 8M shares at $22.00, above the $19.00-$21.00 range. JPMorgan, Citi, Barclays and Jefferies acted as joint book running managers for the offering. Similarweb is a digital data analytics company that says its platform helps "business leaders, strategy teams, analysts, marketers, category managers, salespeople and investors" to "quickly and efficiently discover the best business opportunities, identify potential competitive threats and make critical decisions to capture market share and grow revenues."

Global-e Online (GLBE) opened on May 12 at $24.25. The company had priced 15M shares at $25.00. The deal range was $23.00-$25.00. Goldman Sachs, Morgan Stanley and Jefferies acted as joint book running managers for the offering. Global-e's platform enables global, direct-to-consumer cross-border e-commerce.

iPower (IPW) opened on May 12 at $5.66. The company had priced 3.36M shares at $5.00. DA Davidson and Roth Capital acted as joint book running managers for the offering. iPower is an online retailer and supplier of hydroponics equipment and accessories in the United States.

Flora Growth (FLGC) opened on May 11 at $4.90. The company had priced 3.333M shares at $5.00. The deal priced at the high end of the $4.00-$5.00 trading range. Boustead acted as sole book running manager for the offering. Flora Growth is a cannabis company that said it will "leverage natural, cost-effective cultivation practices to supply cannabis derivatives to its diverse business divisions of cosmetics, hemp textiles, and food and beverage."

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