Opening Day: DoorDash Files To Go Public As Airbnb Delays IPO

DoorDash, the food delivery startup backed by SoftBank (SFTBY), made public its regulatory filing for a listing on the New York Stock Exchange. During the pandemic, the company's revenues increased more than 200% with active platform users reaching 18M, according to the prospectus. Meanwhile, Airbnb's initial public offering has slipped to next week. The company had earlier intended to file on Thursday but has decided on a delay.

SPAC IPOS:

Health Assurance Acquisition (HAAC) opened on November 13 at $10.16 after its initial public offering of 50M securities priced at $10.00. Health Assurance is a newly organized blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. It intends to invest in "an innovator or innovators focused on building an enduring company in the health assurance space."

dMY Technology Group III (DMYI) opened on November 13 at $10.05 after pricing its initial public offering of 27.5M units at a price of $10.00 per unit. dMY Technology Group III said: "While the company may pursue an initial business combination target in any industry or geographic region, the company intends to focus its search for an initial business combination on companies within the broader consumer technology ecosystem that are either consumer-facing or support the infrastructure of consumer applications with enterprise valuations in an approximate valuation range of $1.0 billion to $3.0 billion, though the Company's search may span consumer software segments worldwide and may pursue a target outside its expected range. The Company intends to specifically focus on companies that have created, or enabled the creation of, compelling mobile app experiences with significant growth in segments such as gaming, entertainment, work productivity, e-commerce, dating, financial technology, and health and wellness."

Better World Acquisition (BWAC) opened on November 13 at $10. The SPAC priced its upsized initial public offering of 11M units at $10.00 per unit. Better World is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The company intends to concentrate its efforts on identifying businesses in the healthy living industries. It is led by Chief Executive Officer Rosemary Ripley and Chief Financial Officer Peter Grubstein.

Northern Star Acquisition (STIC) opened on November 11 at $9.89. The blank check company had priced its initial public offering of 25M units at $10.00 per unit.  Northern Star Acquisition intends to focus its search on target businesses primarily in the beauty, wellness, self-care, fashion, e-commerce, subscription and digital-media sectors. The company is led by Joanna Coles, Chairperson and Chief Executive Officer, and Jonathan Ledecky, President and Chief Operating Officer.

Edoc Acquisition (ADOC) opened on November 10 at $10. The blank check company had priced its initial public offering of 9M units at $10.00 per unit. Edoc intends to focus on businesses primarily operating in the healthcare sector in North America and Asia-Pacific.

TS Innovation Acquisitions (TSIA) opened on November 10 at $9.91. The blank check company had priced its initial public offering of 30M units at $10.00 per unit. TS Innovation Acquisitions will primarily target later-stage businesses in the "Proptech sector that possess strong management teams, exhibit significant future growth potential, and have demonstrated the ability to disrupt the real estate market through technology-driven transformation."

UPCOMING IPOS: Among the upcoming IPOs are Airbnb (AIRB), DoorDash (DASH), Caliber Home Loans (HOMS), Sigilon Therapeutics (SGTX) and NeoGames (NGMS).

On November 13, DoorDash filed its S-1 with the SEC for its initial public offering. The company plans to list on the NYSE under the ticker "DASH." The offering is being led by Goldman Sachs and JPMorgan. In 2019 and during the nine months ended September 30, 2020, the company generated revenue of $885M and $1.9B, respectively. In 2019 and during the nine months ended September 30, 2020, they had a net loss of $667M and $149M, respectively, and ($475M) and $95M, respectively, in Adjusted EBITDA, the filings with the SEC reveal.

Airbnb, the home rental company, has announced that it confidentially submitted a draft registration Statement on Form S-1 to the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions.

Caliber Home Loans is a financial services company and an approved Seller/Servicer for both Fannie Mae and Freddie Mac, an approved issuer for Ginnie Mae and is an approved servicer for FHA, VA and the USDA.

Sigilon Therapeutics is developing functional cures for chronic diseases through its Shielded Living Therapeutics platform.

NeoGames is a lottery solutions provider. The company currently supplies lotteries across Europe and North America with its B2B technology.

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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