IPOs this week : Feb 14 - 18, 2022 (wk 7)

No IPOs are expected to start trading next week. 

IPO quiet period expirations

• NSTS Bancorp(NASDAQ:NSTS) on February 14. 

IPO lockup expirations

• Crescent Capital (NASDAQ:CCAP) on February 14, 
• Iris Energy (NASDAQ:IREN) on February 15, 
• Newlake Capital Partners (OTCQX:NLCP), Sweetgreen (NYSE:SG) and UserTesting (NYSE:USER) on February 16 and 
• CYNGN (NASDAQ:CYN) on February 17. 

The IPO lockups cover only certain blocks of shares. 

On the SPAC calendar, shareholder votes are set for the Roth CH Acquisition III Co. (NASDAQ:ROCR) deal to take QualTek public, the Astrea Acquisition Corp (NASDAQ:ASAX) deal to take both HotelPlanner and Reservations.com public, as well as the Healthcare Capital Corp. (NASDAQ:HCCC) deal to take Alpha Tau Medical public.

GlobalFoundries (GFS) began trading on the Nasdaq on Thur 28 Oct 21

GlobalFoundries, which was spun off from Advanced Micro Devices (AMD) in 2009, is the world’s third-largest foundry based on revenue. In 2020, the company reported revenue of $5.7 billion. As demand for chips surged in 2021, GlobalFoundries’ net revenue for the first half of the year was $3.04 billion, an increase of about 13% from a year earlier. Some of the company’s largest customers include several Nasdaq-listed companies, such as Qualcomm (QCOM), NXP Semiconductors (NXPI), AMD and Broadcom (AVGO).

GlobalFoundries Inc. is a multinational semiconductor contract manufacturing and design company incorporated in the Cayman Islands and headquartered in Malta, New York. 

Headquarters: Santa Clara, CA

CEO: Thomas Caulfield (Mar 9, 2018–)

Revenue: 6 billion USD (2020)

Number of employees: 15,000

Founded: March 2, 2009, Sunnyvale, CA

• IPO date: Oct. 28 
• Nasdaq’s largest U.S. IPO by proceeds raised in 2021 and the largest semiconductor IPO in its history.

=Olaplex (OLPX) began trading on the Nasdaq on Thu 30 Sept 21

 Olaplex Holdings Inc's (OLPX.O) shares opened more than 19% above their offer price in a strong market debut on Thursday, giving the hair products maker a market capitalization of $16.2 billion.

Stock of the company, owned by private equity firm Advent International, opened at $25 compared with their initial public offering (IPO) price of $21 per share.

Olaplex's products, which include shampoos, conditioners, treatments and oils, are popularly used for treating damaged hair and priced at around $28 each, with the bundles running up to as much as $196.

The company, founded in 2014 in a garage in California, sells its products in over 100 countries. LVMH-owned beauty chain Sephora (LVMH.PA), professional beauty products distributors SalonCentric (OREP.PA) and Sally Beauty Holding Inc's (SBH.N) Beauty Systems Group are among Olaplex's biggest customers.

Certain existing shareholders of Olaplex sold 73.7 million shares in the company's upsized IPO to raise $1.55 billion. The offering was priced above an earlier projected price range of $17 to $19 per share.

The company did not offer any shares in the IPO and will not receive any proceeds from it.

Advent, which acquired Olaplex in 2019, owns about 79.6% of the combined voting power in the company after the offering through investment funds associated with it.