After a wave of launches in the short holiday week, 10 IPOs are scheduled to raise over $3 billion in the week.
There were 8 IPOs shining on Wednesday.
Thoughtworks
Shares of Thoughtworks Inc jumped nearly 40% in their Nasdaq debut on Wednesday, valuing the company at nearly $9 billion, after the software consultancy firm priced its initial public offering well above range.
The company’s stock opened at $26, compared with its initial public offering price of $21. This was above its targeted price range of $18 to $20.
Backed by Germany’s Siemens AG, Thoughtworks sold 16.4 million shares in the IPO, raising about $344 million. Other investors, including funds advised by Apax Partners, sold about 20.4 million shares.
The company, which helps firms digitize their operations, counts Canadian wireless carrier Telus Corp, German luxury carmaker Daimler AG, U.S. supermarket chain Kroger Co and payments company PayPal Holdings Inc as customers.
On Holding AG
Shares of Roger Federer-backed On Holding AG jumped nearly 46% in their debut on the New York Stock Exchange on Wednesday.
The company sold 31.1 million shares in its initial public offering (IPO) priced at $24, well above its $20 to $22 target price range, raising $746.4 million. Its stock opened at $35.40.
On was founded in 2010 by running enthusiasts Olivier Bernhard, David Allemann and Caspar Coppetti, with Federer investing an undisclosed sum in the company in 2019.
Dutch Bros
Shares of Dutch Bros Inc, which is backed by private equity firm TSG, rose over 59% in their stock market debut on Wednesday.
Shares opened at $32.5, compared to the initial public offering price of $23 per share.
Dutch Bros was founded in 1992 by brothers Dane and Travis Boersma, third-generation dairy farmers who were forced to leave the business due to industry-wide disruption. They started experimenting with coffee beans and began selling espresso from a pushcart by the railroad tracks in Grants Pass, Oregon, which is still the company’s headquarters.
The coffee chain sold 21.1 million shares in its IPO on Tuesday, raising about $484 million. The IPO was priced above Dutch Bros’ earlier targeted price range of $18 per share to $20 per share.
Definitive Healthcare
Shares of Definitive Healthcare rose over 60% in their stock market debut on Wednesday.
Definitive Healthcare Corp Class A Shares Open At $37.25 In Nasdaq Debut Versus Ipo Price Of $27.00/Share.
The company had said overnight that it raised $420.0 million as it sold 15.56 million shares in the IPO, which priced at $27.00, compared with an expected pricing of between $24 and $26 a share, which was raised from an original expectation of between $21 and $24 a share.
DICE Therapeutics
DICE Therapeutics spikes 117% on its first day of trading.
Shares opened at $39, compared to the initial public offering price of $17 per share.
DICE Therapeutics, Inc., a biopharmaceutical company leveraging its proprietary technology platform to build a pipeline of novel oral therapeutic candidates to treat chronic diseases in immunology and other therapeutic areas, today announced the pricing of its upsized initial public offering of 12,000,000 shares of its common stock at a public offering price of $17.00 per share. All of the shares are being offered by DICE. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by DICE, are expected to be $204.0 million.
Procept Biorobotics
Shares of Procept Biorobotics rose over 67% in their stock market debut on Wednesday.
Shares opened at $35, compared to the initial public offering price of $25 per share.
Redwood City, California-based Procept was founded to develop advanced surgical robotic devices for use in minimally invasive procedures.
Management is headed by President and CEO Reza Zadno, Ph.D., who has been with the firm since February 2020 and was previously president and CEO of Avedro, a healthcare company.
The company's first instrument is the AquaBeam Robotic System for use in urologic surgery with an initial focus on treating benign prostate hyperplasia.
Tyra Biosciences
Shares of Tyra Biosciences rose over 62% in their stock market debut on Wednesday.
Shares opened at $29.9, compared to the initial public offering price of $16 per share.
Carlsbad, California-based Tyra was founded to develop technologies that overcome tumor resistance to targeted oncology treatments such as kinase inhibitors.
Management is headed by co-founder, president and CEO Todd Harris, Ph.D., who has been with the firm since inception and was previously Head of Corporate Development at Sienna Biopharmaceuticals.
The firm's lead candidate, TYRA-300, is in IND-enabling status for the treatment of muscle invasive bladder cancer, MIBC.
EzFill
Shares of Mobile fueling company EzFill rose over 13% in their stock market debut on Wednesday.\
Shares opened at $4.48, compared to the initial public offering price of $4 per share.
EzFill is a leading participant in the fast-growing mobile fuel industry, with the largest market share in its home state of Florida. Its mission is to disrupt the gas station fueling model by providing consumers and businesses with the convenience, safety, and touch-free benefits of on-demand fueling services brought directly to their locations. For commercial and specialty customers, at-site delivery during downtimes enables operators to begin their daily operations with fully fueled vehicles.
The net proceeds from the initial public offering will be used to gain additional market share in Florida where it is currently the largest on-demand fuel provider, national expansion, technology development, debt restructuring, and other general corporate and working capital expenses.
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