The boom in IPOs that began in 2020 accelerated in 2021, thanks in part to record stocks …
The boom in IPOs that began in 2020 accelerated in 2021 thanks in part to record prices. Traditional IPOs raised $ 96.3 billion by mid-August, up 155.3% year over year.
In 2021 there have been 277 IPOs so far, which exceeded the total number of 218 in 2020. In the last week of July alone, a record of 20 companies closed new listings.
One of the most famous IPOs in August was the clinical stage biopharmaceutical company Adagio Therapeutics Inc. (ticker: ADGI). Adagio valued its $ 309 million initial public offering at $ 17 per share on August 5, but its stock is trading at more than $ 30 per share as of September 2.
Investors and analysts assume that the IPO boom will continue in September. Here are five initial public offerings to check out:
– Authentic Brands Group LLC (AUTH)
– The Fresh Market Inc. (TFM)
– Stronghold Digital Mining Inc. (SDIG)
– ForgeRock Inc. (FORG)
– To Holding AG (ONON)
[Sign up for stock news with our Invested newsletter.]
Authentic Brands Group LLC (AUTH)
Authentic Brands is a brand management firm that has partnered with mall operators Simon Property Group Inc. (SPG) and Brookfield Property Partners LP (BPY) to acquire troubled brands such as Aeropostale, Brooks Brothers and Forever 21. Authentic also owns Lucky Brands and Juicy Couture.
While other brand owners have been selling assets to prop up their balance sheets, Authentic has expanded its holdings. In June, the company acquired Izod, Van Heusen, Arrow and Geoffrey Beene in a $ 220 million deal.
Investors are still waiting for an update from Authentic since the company filed its IPO papers with regulators on July 6th. The company reported that its net income increased from $ 45 million in 2016 to $ 211 million in 2020, while revenue increased from $ 165 million to $ 489 million over the same period. Authentic is reportedly aiming for an IPO valuation in the range of $ 10 billion.
Authentic has yet to announce an official IPO date, but the stock could trade under the ticker AUTH on the New York Stock Exchange sometime in September.
The Fresh Market Inc. (TFM)
Gourmet grocery store The Fresh Market has a long and unique relationship with Wall Street. The company first went public in 2010 but has struggled to compete with Kroger Co. (KR), Whole Foods, and other high-growth grocery chains.
In 2016, Apollo Global Management Inc. (APO) took The Fresh Market private in a $ 1.36 buyout deal that saw the stock only about a 30% premium over its IPO price six years earlier was rated.
Apollo has now spent five years restructuring The Fresh Market’s business and bringing it back onto the stock exchange. The company officially filed for an IPO on July 16 with the aim of raising up to $ 100 million. Renaissance Capital said the initial cap of $ 100 million is likely just a placeholder, and said The Fresh Market IPO could actually raise up to $ 250 million.
The Fresh Market reported sales of $ 1.9 billion for the 12 months ended April 2021. Investors are still waiting for an IPO update, but the stock could start trading on the Nasdaq under the ticker TFM sometime in September.
[Read: 7 Electric Vehicle ETFs to Buy]
Stronghold Digital Mining Inc. (SDIG)
Stronghold Digital Mining is a cryptocurrency mining company currently focused on Bitcoin. The company owns and operates around 1,800 crypto asset mining computers.
Cryptocurrency prices have skyrocketed since early 2020 as more and more young retailers become concerned about fiat currency inflation.
Stronghold’s mining business is currently relatively small. The company had sales of only $ 7 million for the first 12 months ended March 31, 2021. However, Stronghold has reportedly made three final agreements to purchase an additional 27,300 mining computers, 1,500%.
Stronghold filed its IPO on July 27, and investors are still waiting for an official listing schedule. Stronghold plans to start trading soon on the Nasdaq under the ticker SDIG.
ForgeRock Inc. (FORG)
ForgeRock is an enterprise identity management platform that enables customers to secure and manage the identities of customers, employees and partners. The ForgeRock platform supports more than 60,000 access transactions per customer per second and a total of more than 3 billion identities.
ForgeRock filed for the IPO on August 23. In the filing, the company said it had revenue of $ 157 million in the 12 months ended June 30, 2021, up 30% from the previous year. ForgeRock also posted a net loss of $ 20 million during that period, compared to a loss of $ 36 million the previous year.
ForgeRock plans to raise up to $ 100 million at a valuation of up to $ 4 billion when it goes public, according to Bloomberg. The company was reportedly valued at just $ 730 million in its last round of fundraising in 2020.
ForgeRock plans to list on the NYSE under the ticker FORG, but has not yet announced an official IPO.
[SEE: 6 of the Best Blockchain Stocks and ETFs to Buy in 2021.]
About Holding AG (ONON)
On Holding is a Swiss running shoe and sportswear company. On was founded in 2010 and has achieved an average annual revenue growth of 85% since its inception.
Tennis champion Roger Federer invested in On back in 2019 and recently teamed up with the company to develop the Roger Pro tennis shoe.
On filed its IPOs on August 23, reporting sales of $ 616 million for the 12 months ended June 30, 2021. Net sales for the six months prior to that date increased 85%. Athletic shoe sales rose in 2020 as many people switched to outdoor sports due to gym closings.
In April, Reuters reported that On could target an IPO valuation of between $ 4 billion and $ 6 billion. The company was valued at nearly $ 2 billion during its most recent round of funding.
On doesn’t have an official IPO date yet, but the company plans to list on the NYSE under the ticker ONON.
More from US news
8 short squeeze stocks to take off in September
9 upgraded stocks to buy in September
9 safe dividend stocks with low payout percentages
5 IPO Stocks To Watch For In September Originally Posted on usnews.com