Hi, this was an exciting start of the year in the IPO world. Here goes a Friday debrief about the top 5 IPOs that went to the market this week.
Affirm (AFRM), an online payments company founded by Max Levchin, began trading on the Nasdaq this Tuesday. It priced its shares at $49 apiece, above its target range of $41 to $44 each.
By the end of the day, it had soared 98%, closing at $97. With 242.7 million shares outstanding following the offering, the company has obtained an $11.6 billion valuation at the offer price. With shares doubling to $97 on their opening day, this valuation has jumped to $23.5 billion, and now at $130 the valuation has risen towards $31.5 billion.
As the week ends, it’s now at $117, a 138% change from its IPO.
The online clothing reseller Poshmark (POSH) opened its first day of trading on the Nasdaq this Thursday ending the day up more than 141% in the company’s market debut.
After marketing for $35 - $39, they opened at $42 giving it an initial valuation of more than $3 billion.
It closed the day trading at $101,50, valuing Poshmark at about $8.5 billion on a fully diluted basis including options and restricted stock units, raising a total of $277 million.
By Friday it closed at $83.20. More 98% than the opening price.
Qilian International Holding Group Limited (QLI), a China-based pharmaceutical and chemical products manufacturer, went public this Tuesday with 5,000,000 ordinary shares at a public offering price of $5.00 per share.
When Nasdaq closed, it was being traded at $9.90 apiece, a 98% increase of its initial offer, receiving an aggregate gross proceeds of $25 million.
As the week went by, it reached a high of $22, closing the week with an increase of 75% from the opening price, at $8.75.
The pet retailer Petco Health and Wellness Co. Inc. (WOOF) also went public this Thursday.
After its IPO at $18, it shot up by 63% closing the day at $29.40 - their own estimates were between $14 and $17. With it, the company’s market value went to $6.4B, having raised $864 million the IPO. By the end of the week, it closed at $27.5, 52.8% more than its IPO.
The Miami-based racing game developer Motorsport Games (MSGM) went public this Wednesday on the Nasdaq expecting to sell 3 million shares to raise a total of $60 million, opening at 20$.
By the end of the day, it was trading at $34.38, raising its valuation in more than 70%.
Today, MSGM closed at $30, a 50% change from its IPO.
Have a nice weekend and we'll be back next week for more fresh IPOs!
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