US IPO Weekly Recap: PPD and 5 others join the IPO pipeline

While there were no pricings this past week, six companies joined the IPO pipeline.

LBO’d contract research organization PPD (PPD) filed for an IPO that we estimate could raise $1 billion. Phase 3 dermatology biotech Arcutis Biotherapeutics (ARQT), mattress retail unicorn Casper (CSPR), and life sciences software maker Schrödinger (SDGR) all filed to raise $100 million. Florida bank Professional Holding Corp (PFHD) filed to raise $75 million. InterPrivate Acquisition (IPV.U), a blank check company formed by private equity firm InterPrivate, filed to raise $175 million.

6 Filings During the Week of January 6th, 2020
Sector Lead
Casper (CSPR) $100M Consumer Discretionary Morgan Stanley
Mattress and sleep-related goods retailer.
Schrödinger (SDGR) $100M Health Care Morgan Stanley
Provides a software platform for life sciences and materials research.
PPD (PPD) $1,000M Health Care Barclays
LBO'd contract research organization that provides drug development services.
InterPrivate Acquisition (IPV.U) $175M SPAC EarlyBird
Blank check company led by the founder of private equity firm InterPrivate.
Arcutis Biotherapeutics (ARQT) $100M Health Care Goldman
Phase 3 biotech developing topical therapies for common skin diseases.
Professional Holding Corp (PFHD) $75M Financials Stephens
Florida bank with nine locations across the Miami-Dade MSA.

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IPO Market Snapshot
US IPO Weekly Recap: PPD and 5 others join the IPO pipeline

Investment Disclosure: Renaissance IPO ETF (symbol: IPO) Renaissance International ETF (symbol: IPOS)

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