ShipBob and StubHub among in-focus, expected IPOs
 

Shares of Google (GOOG) and Softbank (SFTBY)-backed Tempus AI rose by as much as 15% during its market debut. The healthcare diagnostics company uses AI to process medical data is among the several AI-focused company that have garnered investors' interest.

LATEST IPOS AND DIRECT LISTINGS:

Tempus AI (TEM) opened on June 14 at $40. The company had priced 11.1M shares IPO priced at $37.00, at the high end of $35.00-$37.00 range. Tempus is a technology company "advancing precision medicine through the practical application of artificial intelligence in healthcare" that says it has "one of the world's largest libraries of multimodal data, and an operating system to make that data accessible and useful."

Sound Point Meridian Capital (SPMC) opened on June 14 at $19.50. The company had priced 4M shares at $20.00. The deal size was increased to 4M shares from 3.75M shares. The externally managed, non-diversified closed-end management investment company intends to use the proceeds from the offering of its common stock to acquire investments in accordance with its investment objectives and strategies and for general working capital purposes.

RECENT SPAC IPOS:

• Perceptive Capital (PCSC) opened on June 12 at $10.06. The blank check company intends to focus on the healthcare industry in the United States and other developed countries.
• Century Acquisition (ALF) opened on June 11 at $10.05. The blank check company intends to focus on businesses that operate within the technology sector, with a focus on video gaming, interactive entertainment and enabling services and technologies, cybersecurity, artificial intelligence, machine learning, software as a service and deep tech technologies.

END OF THE WEEK PERFORMANCE:

• Tempus AI - $40.25;
• Sound Point Meridian Capital - $20.

UPCOMING IPOS: Upcoming IPO and direct listings expected include Powell Max (PMAX), Telix Pharmaceuticals (TLPPF), Cuprina Holdings (CUPR), ShipBob, and StubHub.

Click here to see upcoming IPO calendar on TipRanks.

Powell Max Limited has filed for an initial public offering of the Class A ordinary shares of the company, which is incorporated in the British Virgin Islands with limited liability and whose principal place of business is in Hong Kong. The company is offering on a firm commitment basis 1.65M Class A Ordinary Shares of Powell Max, representing approximately 11.7% of the ordinary shares following completion of this offering, assuming the underwriters do not exercise their over-allotment option.

"The offering price of our Class A Ordinary Shares in this offering is expected to be between $4.00 and $6.00 per share," the filing stated. "Founded in 2019, we engage in the provision of financial communications services that support capital market compliance and transaction needs for corporate clients and their advisors in Hong Kong. Our financial communications services cover a full range of financial printing, corporate reporting, communications and language support services from inception to completion, including typesetting, proofreading, translation, design, printing, electronic reporting, newspaper placement and distribution," the filing added.

Telix Pharmaceuticals announces the launch of its initial public offering in the United States of 17,000,000 American Depositary Shares, each representing one ordinary share in Telix. The target size of the Offering is $200 million in gross proceeds. In addition, Telix expects to grant the Underwriters a 30-day option to purchase up to an additional 15% of the number of ADSs sold in the Offering at the initial public offering price, less underwriting discounts and commissions. Telix has applied to list its ADSs on the Nasdaq Global Market under the ticker symbol "TLX." Telix's ordinary shares are listed, and upon the completing of the Offering, will continue to trade on the Australian Securities Exchange under the symbol "TLX."

In a regulatory filing, Cuprina Holdings disclosed a public offering prospectus to be used for the initial public offering of 2.5M of the company's Class A Ordinary Shares as well as a resale prospectus to be used for the potential resale by Ms. Dorea Quek En Qi and Mr. Bryan Teo Ying Jie, collectively, the resale shareholders, of 1.5M Class A Ordinary Shares. Each of the resale shareholders owns 4.50% of the company's issued and outstanding shares immediately prior to this offering, or 810,000 Class A Ordinary Shares, the filing noted.

The prospectus states that, "We are a Singapore-based biomedical and biotechnology company that is dedicated to the development and commercialization of innovative products for the management of chronic wounds, as well as operating in the health and beauty sectors. Our expertise in biomedical research allows us to identify and utilize materials derived from natural sources to develop wound care products in the form of medical devices which meet international standards. We believe we will be able to build upon and leverage such expertise to develop innovative cosmeceutical products in the future."

ShipBob has selected JPMorgan (JPM) to lead its planned listing, Bloomberg's Amy Or, Gillian Tan, and Ryan Gould report, citing people familiar with the situation. The Chicago-based ecommerce fulfillment service provider has also chosen Citigorup (C) as part of the syndicate, the authors say. An initial public offering could occur as soon as later this year and could value the company at $4B, the authors note.

Online ticketing marketplace StubHub aims to go public by late summer, people close to the company told The Information's Cory Weinberg. StubHub has more than $2B in debt, which is "many times its estimated profits," so the company will test investors' appetite for companies with strained balance sheets while StubHub has "ambitious hopes for the valuation it would achieve," further complicating matters, the report noted. The company would prefer to be valued in line with the $16.5B valuation at which it raised money during the boom of late 2021 and could call off the public listing plans if it can't get close to that number, the sources indicated.

Opening Day" is The Fly's recurring series of stories on the latest initial public offerings, their performance, and upcoming IPOs.

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