The IPO market is heating up again after a brief holiday week, with several big names filing to go public and many companies debuting. Here are some of the most important IPOs to keep an eye on.
Phillips Edison & Company (Phillips Edison & Company) is a company founded by One of the largest grocery-anchored neighborhood shopping center owners in the country is going public. Phillips Edison & Co Inc (NASDAQ: PECO) is a REIT that generates 6.6 percent of its income from Kroger Co (NYSE: KR). Phillips Edison & Co. is also Kroger’s largest landlord, with 54 locations across the country. Publix, Ahold Delhaize, Albertsons-Safeway, and Walmart Inc. are among the company’s other major clients (NYSE: WMT).
The company has 94.8 percent occupancy as of March 31, with 278 wholly-owned hotels and 22 operated through joint ventures. The company’s properties are spread over 31 states, with the Sun Belt region accounting for the most revenue (48.8%).
Grocery stores generate 35.4 percent of sales for Phillips Edison & Co., nongrocery anchors 13.6 percent, and inline stores 51 percent.
In the first quarter of 2021, FFO increased by 9.3% to $130.4 million.
The corporation intends to sell 17 million shares between $28 and $31 per share.
Sera Prognostics: Sera Prognostics Inc (NASDAQ: SERA), a women’s health diagnostic company, is going public with a 4.7 million share offering at a price range of $15 to $17 per share.
With its commercially available PreTRM test, the company’s primary focus is on pregnancy outcomes.
Anthem Inc (NYSE: ANTM), which has 43 million members and accounts for 10% of all pregnancies in the United States, has partnered with the company.
Associated Link: In the second half of 2021, there are seven initial public offerings to keep an eye on.
Holdings of F45 Training: F45 Training Holdings (NYSE: FXLV) is coming public via traditional IPO, with shares likely to price between $15 and $17, after completing a SPAC merger that valued the firm at $845 million. The business is a rapidly expanding fitness franchise that focuses on 45-minute training sessions.
Since its inception in 2013, F45 has grown to include 1,555 studios and 2,801 franchises across 63 countries. The company thinks that its asset-light and highly scalable franchise model has the potential to grow to 7,000 studios in the United States and 16,000 studios globally.
F45 had revenue of $82.3 million in 2020 and $18.2 million in the first quarter of 2021, with a franchise fee of roughly 7%.
After the offering, Mark Wahlberg’s investment fund will hold 28.6% of the company, while co-founder and CEO Adam Gilchrist would own 25.4 percent.
Membership Collective Group Inc (NYSE: MCG): The owner of the popular Soho House units throughout the world is going public with a planned offering of 30 million shares at a price point of $14 to $16.
The global membership organization has almost 199,000 members and owns 30 residences, nine Soho Works, and other properties around the world. With a 94 percent retention rate and a waiting list of over 50,000 potential members, the company has a great brand recognition.
From fiscal 2016 to fiscal 2020, the company’s revenue increased at a compounded annual growth rate of 24%. In the fiscal year prior to the pandemic, the corporation generated $642 million in revenue. In fiscal 2020, revenue was $384 million, and in the first quarter of 2021, it was $72 million.
Membership fees account for around half of the company’s revenue, while in-house revenue accounts for 20% and other revenue accounts for 20%.
Sight Sciences Inc (NASDAQ: SGHT) plans to sell 7 million shares at a price range of $20 to $23 per share.
With its OMNI Surgical and TearCare systems, the business hopes to revolutionize the ophthalmology and optometry markets by treating glaucoma and dry eye conditions. The FDA certified the company’s OMNI in 2018, and it received further indications in March. TearCare received FDA approval in 2019.
In 2020, the company’s revenue was $27.6 million, and in the first quarter of fiscal 2021, it was $8.6 million.
Stevanato Group is a corporation that specializes in medication containment, drug delivery, and diagnostic solutions. Stevanato Group (NYSE: STVN) is planning to go public with a 40 million share offering at a price range of $21 to $24.
Over 700 companies, including 41 of the top 50 pharmaceutical companies, eight of the top ten in-vitro diagnostic companies, and 15 of the top 20 biotechnology companies, cooperate with the company, which has been around for more than 70 years. Vials, cartridges, drug delivery, diagnostics, assembly, visual inspection, and packages are among the services provided by Stevanato.
The company claims to have a total addressable market of more than $11 billion.
Blend Labs Inc (NYSE: BLND), a financial services business, wants to sell 20 million shares at a price range of $14 to $16. The company’s mission is to make financial services more simple and transparent.
Blend Labs collaborates with 24 of the top 100 non-bank mortgage lenders and 31 of the top 100 financial institutions in the United States.
In 2020, Blend Labs processed 1.4 million transactions, rising 190 percent over the previous year. In fiscal 2020, the company’s loan volume was over $1.4 trillion.
Title 365, which provides title insurance to six of the top 12 mortgage companies in the United States and had revenue of $212 million in fiscal 2020, was recently acquired by Blend Labs. In fiscal 2020, Blend Labs generated $96 million in revenue, up 90 percent from the previous year.
Bridge Investment Group Holdings Inc (NYSE: BRDG), a vertically integrated real estate company, seeks to sell 18.75 shares at a price range of $15 to $17 per share.
Assets under administration include $26 billion, with 24,300 multifamily units, 12,500 workforce and affordable housing units, 11,600 senior living units, and 14.2 million square feet of office space.
A total of 10,400 multifamily units and over one million square feet of office space are part of the company’s construction. From fiscal 2016 through fiscal 2020, assets under management increased by 40.9 percent each year.
The company’s revenue in fiscal 2020 was $231.9 million, and in the first quarter of fiscal 2021, it was $58.6 million.
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