Opening Day: Oatly Soars In Market Debut, Squarespace Plunges

IPO stock photo | by lendingmemo_com

Oatly shares soared 24% in the company's public market debut Thursday. Oatly produces a milk substitute made from oats and has grown rapidly in recent years. Meanwhile, Squarespace shares fell as much as 13% below its direct listing reference price on Wednesday amid a broader market selloff.

LATEST IPOS AND DIRECT LISTINGS:

Oatly Group (OTLY) opened on May 20 at $22.12. The company had priced its initial public offering of 8.376M American depositary shares at a public offering price of $17 per ADS. Morgan Stanley, J.P. Morgan and Credit Suisse acted as lead book-running managers for the offering. Barclays, Jefferies, BNP, BofA Securities, Piper Sandler and RBC Capital Markets acted as book-running managers. Oatly is the largest oat drink company.

Procore (PCOR) opened on May 20 at $84. The deal priced above the $60.00-$65.00 range at $67. Goldman Sachs, JPMorgan, Barclays and Jefferies acted as joint book running managers for the offering. Procore is a provider of construction management software.

The direct listing of Squarespace (SQSP) opened on May 19 at $48, slightly below the $50 reference price. Squarespace is a website building and e-commerce platform.

Jiuzu Holdings (JZXN) opened on May 19 at $45. The company had priced its upsized initial public offering of up to 5.2M ordinary shares at $5.00 per share. The offering is being conducted on a firm commitment basis. Boustead Securities acted as the sole underwriter for the offering. Jiuzu Holdings is a new energy vehicles franchisor and retailer in China.

PERFORMANCE:

  • Oatly Group finished Friday at $22.46.
  • After opening at $84, Procore ended the week at $88.62.
  • Squarespace finished Friday at $49.56.
  • Jiuzu Holdings ended the week at $8.41.

RECENT IPOS TO WATCH:

FTC Solar (FTCI), Endeavor (EDR), Aveanna (AVAH), Privia Health (PRVA), Werewolf Therapeutics (HOWL), Vaccitech (VACC), and Alfi (ALF) are among stocks that could see new coverage roll out this upcoming week as the quiet periods for banks that underwrote the companies' IPO expire.

UPCOMING IPOS:

Among the upcoming IPO and direct listings are Qiniu (QNIU), NerdWallet, Didi Chuxing, Sprinklr, Save Foods (SVFD), Regencell Bioscience (RGCB), Camposol (CMSL) and WalkMe (WKME).

On April 30, Qiniu 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 itself 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 (MS), 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.

Bloomberg has reported that China's Didi Chuxing has filed confidentially for a U.S. IPO. The Chinese ridesharing company could seek a valuation of $70B to $100B, according to Bloomberg. Other U.S.-listed ridesharing companies include Uber (UBER) and Lyft (LYFT).

Sprinklr has also announced the confidential submission of draft registration statement for proposed initial public offering. With the filing, Sprinklr is the latest high-profile start-up to seek an IPO. Sprinklr is a customer experience company.

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.

WalkMe announced that it has filed a registration statement on Form F-1 with the SEC relating to a proposed initial public offering of its ordinary shares. The number of shares to be offered and the price range for the proposed offering have not yet been determined. WalkMe has applied to list its ordinary shares on the Nasdaq Global Select Market under the ticker symbol "WKME."

Disclaimer: TheFly's news is intended for informational purposes only and does not claim to be actionable for investment decisions. Read more at  more

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Elevateexpress 8 months ago Member's comment

Oatly's successful market debut showcases the growing demand for sustainable and plant-based options. Meanwhile, Squarespace faces market challenges, highlighting the competitive nature of the tech industry. Exciting times for Oatly and a reminder of the dynamism in today's markets. my info here #Oatly #Squarespace #MarketNews