Opening Day: Samsara Pops In Trading Debut After IPO Raises $805M

IPO stock photo | by lendingmemo_com

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Shares of software maker Samsara rose over 7% in the stock's trading debut following a $805 million initial public offering. The company is the pioneer of the Connected Operations Cloud, which allows businesses that depend on physical operations to harness Internet-of-Things data to develop actionable business insights and improve their operations.

Latest IPOs and Direct Listings

Immix Biopharma (IMMX) opened on Dec. 16 at $5. The company had priced 4.2 million shares at $5.00. The deal size was raised to 4.2 million shares from 3.825 million shares and the deal priced at the low end of its $5.00-$6.00 range. ThinkEquity acted as sole book running manager for the offering.

Immix is a biopharmaceutical company pioneering Tissue-Specific Therapeutics, or TSTx, targeting oncology and immuno-dysregulated diseases. In addition to oncology, its pipeline includes Tissue-Specific Biologic candidates to treat inflammatory bowel disease, including ulcerative colitis and Crohn's disease.

Bionomics (BNOX) opened on Dec. 16 at $22. The company had priced 1.62 million shares at $12.35 per ADS. Evercore ISI, William Blair, and Cantor Fitzgerald acted as joint book running managers for the offering. Bionomics is a clinical-stage biopharmaceutical company developing novel, allosteric ion channel modulators for patients suffering from serious central nervous system, or CNS, disorders.

Lead product candidate BNC210 is an oral proprietary selective negative allosteric modulator of the alpha7 nicotinic acetylcholine receptor, for the acute treatment of Social Anxiety Disorder, or SAD, and chronic treatment of Post-Traumatic Stress Disorder, or PTSD.

Samsara (IOT) opened on Dec. 15 at $24.90. The company had priced its 35 million share initial public offering at $23.00, the high-end of the $20.00-$23.00 range. Morgan Stanley, Goldman Sachs, JPMorgan, and Allen & Co. acted as joint book running managers for the offering.

Samsara identifies itself as "the pioneer of the Connected Operations Cloud," which it says "allows businesses that depend on physical operations to harness Internet of Things data to develop actionable business insights and improve their operations.

Genenta Science (GNTA) opened on Dec. 15 at $10.05. The company had priced 2.4 million American Depositary Shares, or ADSs, at $11.50. The deal range was $10.50-$12.50. Roth Capital and Maxim acted as joint book running managers for the offering. Genenta Science S.p.A. is a clinical-stage biotechnology company developing hematopoietic stem progenitor cell immuno-gene therapy for solid tumors, including lead product candidate Temferon.

Sidus Space (SIDU) opened on Dec. 14 at $27. Sidus, a Space-as-a-Service satellite company, priced its initial public offering of 3 million shares of its Class A common stock at a price of $5.00 per share, at the mid-point of its $4.00-$6.00 range. Boustead acted as sole book running manager for the offering.

Fresh Vine Wine (VINE) opened on Dec. 14 at $9.33. The company had priced its initial public offering of 2.2 million shares of its common stock at a public offering price of $10.00 per share. The Oak Ridge Financial Services Group is acting as lead book-running manager and as representative for the proposed offering, with Boustead Securities serving as co-manager.

Performance

  • Immix finished Friday at $4.
  • Bionomics ended the week at $13.
  • After opening at $24.90, Samsara finished Friday at $22.32.
  • Genenta Science ended the week at $11.02.
  • Sidus Space finished Friday at $11.63.
  • After opening at $9.33, Fresh Vine Wine ended the week at $5.73.

Recent IPOs to Watch

Aeroclean (AERC) is a stock that could see new coverage roll out this upcoming week, as the quiet period for banks that underwrote the company's IPO expires.

Upcoming IPOs

Upcoming IPO and direct listings expected include Bitdefender, Phoenix Motor, Nuvo Group, Austin Gold, Chobani, FreeCast, Keter Group, Qiniu, and Jin Medical.

Bitdefender Holding B.V., which identifies itself as "a global cybersecurity leader," announced that it has confidentially submitted a draft registration statement on Form F-1 to the U.S. Securities Exchange Commission for the proposed initial public offering of its securities in the United States.

"The timing, size and price range for the proposed offering have yet to be determined. The initial public offering is subject to SEC and other regulatory review processes, as well as market and other conditions," the company said. Bitdefender did not disclose a proposed ticker symbol for its anticipated stock offering.

Phoenix Motor filed for an initial public offering on the Nasdaq under symbol 'PEV.' Upon the closing of the offering, Phoenix Motor will be a "controlled company" within the meaning of the corporate governance standards because more than 50% of the voting power of its outstanding common stock will be beneficially owned by SPI Energy (SPI).

Phoenix Motor currently designs, assembles, and integrates electric drive systems and light and medium duty electric vehicles, and markets and sells electric vehicle chargers for the commercial and residential markets. The company delivered its first commercial electric vehicle in 2014. It develops and integrates an electric drivetrain into the Ford Econoline Chassis, specifically on the Ford (F) E-450.

Nuvo Group has filed with the SEC for an initial public offering of ordinary shares and has applied to list its ordinary shares on the New York Stock Exchange under the symbol 'NUVO.' The company's prospectus stated:

"We believe we are the most advanced data-driven remote healthcare solution focused exclusively on pregnancy care. Our business model today consists of a hardware/software hybrid platform that provides remote access to medical-grade data to all key participants in the pregnancy care ecosystem. Our solution, which we refer to as our INVU platform, is at the core of our business model and provides connected pregnancy care management both at home and in the clinic."

Austin Gold, a gold exploration company focused on gold targets and making district-scale gold discoveries in Nevada, has submitted an application for listing its common shares for trading on the NYSE American under the symbol 'AUST.'

Chobani has filed with the SEC for an initial public offering, stating that it expects that the shares of its Class A common stock will trade on the Nasdaq Global Select Market under the symbol 'CHO.' In its prospectus, Chobani stated:

"At Chobani, we are an anti-traditional consumer packaged goods company. We challenge the old, staid and conventional status quo represented by our legacy competitors by creating food that is delicious, natural, nutritious and accessible... We currently sell our products in single-serve, multi-serve, and/or multi-pack formats through approximately 95,000 retail locations in the United States... Chobani also has an international presence through the operation of a manufacturing facility in Melbourne, Australia and participates in certain international export markets, such as Mexico and Canada. "

FreeCast has filed with the SEC for an initial public offering of common stock and has applied to list its common stock on the Nasdaq Capital Market, or Nasdaq, under the symbol 'CAST.' 

FreeCast is an entertainment-based content discovery, aggregation, and management company that provides SmartGuide digital interactive technology for consumers to organize numerous sources of online media similar to a traditional on-screen television guide.

Keter Group SA has filed with the SEC for an initial public offering in the U.S. The company intends to apply to list its ordinary shares on the New York Stock Exchange, or NYSE, under the symbol 'KETR.' In its prospectus, the company stated that, "For over 70 years, Keter has inspired people to create amazing spaces in and around the home through an innovative, industry-leading portfolio of durable indoor and outdoor lifestyle solutions."

Qiniu is a Chinese media and data cloud service platform that counts e-commerce giant Alibaba's (BABA) Taobao China as its biggest institutional shareholder with a 17.7% stake.

Jin Medical International has filed for an offering of 5 million ordinary shares in an initial public offering. The offering price of its ordinary shares in this offering is expected to be in the range of $5 to $6 per share, Jin said in a filing with the SEC. The company has applied to list its ordinary shares on the Nasdaq Capital Market under the symbol 'ZJYL.' 

The China-based VIE, Changzhou Zhongjing and its subsidiaries, design and manufacture wheelchairs and living aids products for people with disabilities, the elderly, and people recovering from injury.

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