The IPO market hit the accelerator for 2021 when seven deals landed on this week’s IPO Calendar early today. This is the earliest start for the IPO market in recent memory. IPO pricings typically begin between Jan. 10 and Jan. 17, IPOScoop’s records show.
IPO bankers expect to raise about $1.55 billion in proceeds from nine deals scheduled so far this week. Seven SPACs and two biotech IPOs are on tap for this week. Four unit offerings by special-purpose acquisition companies (SPACs), also known as blank-check companies, were scheduled for pricing tonight. Of those four deals, two had announced pricing details by early Monday evening. (Please see our IPO Calendar for details.)
This fast start on the first trading day of the new year follows a blockbuster 2020. A total of 219 IPOs were priced, plus 246 unit offerings, which were mostly SPAC deals.
The IPO Scorecard for 2020, based on IPOScoop data, shows that the average IPO gain was 80.1 percent from the IPO price. In comparison, the NASDAQ Composite Index climbed 43.6 percent, which was the NASDAQ’s best annual performance since 2009, according to The Wall Street Journal.
The fuel for the IPO market’s strength in 2020 was the U.S. stock market’s rally. Both the Dow Jones Industrial Average and the S&P 500 finished the year at record closing highs, while the NASDAQ came within 10 points of its record high, The Wall Street Journal reported.
The pace at the SEC’s window last week was fast and furious with 34 new and amended filings. In that group, 23 filings were by SPACs. Those numbers are not surprising, given the surge in SPAC deals in 2020.
As more filings flow in over the transom at the U.S. Securities and Exchange Commission, the IPO Calendar is likely to expand quickly this week and next.
Stay tuned.
(For more information about these companies, please check the IPO profiles on IPOScoop.com.)
(Never trade on proposed symbols. You might wind up owning something on the OTC Bulletin Board.)
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.
Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums), is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.