IPO activity has remained robust ahead of the U.S. presidential election as Nasdaq welcomed more than two dozen companies since the beginning of the month, including 14 this week. The momentum builds upon the red-hot IPO market in September, during which Nasdaq held 40 IPOs.
“We don’t see anything slowing down at least until the election,” Jeff Thomas, senior vice president and head of Western U.S. Listings and Capital Markets at Nasdaq, said during an interview on Cheddar.
Below we highlight several notable IPOs so far this month.
Notable IPOs During the Week of Oct. 12
Array Technologies (ARRY)
Solar company Array Technologies soared in its trading debut, raising more than $1 billion. The company sold 47.5 million shares at $22 each, above the top of the expected range of $19 to $21.
Eastern Bankshares (EBC)
Boston-based Eastern Bankshares, the holding company which owns Eastern Bank, raised about $1.8 billion in its IPO, selling 179 million shares at $10 each.
Codiak BioSciences (CDAK)
Codiak BioSciences, an early-stage biotech developing novel exosome therapeutics for cancers, offered 5.5 million shares at $15, the midpoint of the $14 to $16 range, raising $83 million.
Notable IPOs During the Week of Oct. 5
Kronos Bio (KRON)
Biotech company Kronos Bio raised about $250 million in its IPO. The company sold 13.2 million shares and priced its upsized IPO at $19 a share, above its initial estimated range of $16 to $18.
Aziyo Biologics (AZYO)
Aziyo Biologics, which makes regenerative medical products for various tissue types, offered 2.9 million shares at $17 each, raising about $50 million.
Montes Archimedes Acquisition (MAACU)
Montes Archimedes Acquisition, a special purpose acquisition company, raised $400 million after selling 40 million units at $10.00 per unit. The company intends to identify a prospective target company and complete an initial business combination in the healthcare industry.
NextGen Acquisition (NGAC)
Blank-check company NextGen priced its IPO of 35 million units at $10.00, raising $350 million. The company said it intends to focus its acquisition prospects on the industrial and healthcare sectors.
Explore the IPO Calendar to learn more about upcoming IPOs and recent filings.