Klaviyo (NYSE) files S-1 for IPO; size and pricing not yet disclosed

 Data and marketing automation company Klaviyo on Friday became the latest tech company to try to join the public markets.

⦁ Has applied to list Series A common stock on the New York Stock Exchange under the symbol

"KVYO".

⦁ Goldman Sachs & Co. LLC, Morgan Stanley, and Citigroup are acting as lead book runners for the proposed offering. Barclays, Mizuho, and William Blair, are acting as joint book runners, Piper Sandler and Truist Securities are additionally acting as book runners, and Baird, Canaccord Genuity, Needham & Company, and TD Cowen are acting as co-managers.

Marketing automation company Klaviyo became the latest tech company to try to join the public markets, after Instacart and Arm submitted IPO filings.

Klaviyo got its start in the e-commerce industry, helping businesses better target their email and text message marketing to shoppers.

One of its biggest backers and sources of business is Canadian e-commerce giant Shopify.

==VinFast Auto Ltd. (VFS) began trading on the Nasdaq on Thur 17 Aug 23

 

(source) 

New York – Ha Noi, August 15, 2023 – VinFast Auto Ltd. (“VinFast” or the “Company”) celebrated its listing and commencement of trading of its shares on the Nasdaq Global Select Market under the ticker symbol “VFS,” with an equity value of over US$23 billion.

VinFast’s public listing follows the completion of the business combination with Black Spade Acquisition Co (“Black Spade”) on August 14, 2023. VinFast celebrated this moment by ringing the opening bell at Nasdaq Stock LLC (“Nasdaq”) earlier today and became the largest Vietnamese company listed on the U.S. stock market by market capitalization.

The combined company will now operate as VinFast Auto Ltd. and continue to be led by Global CEO Le Thi Thu Thuy, or Madame Thuy Le, who is supported by an experienced, diverse, and entrepreneurial senior management team. Black Spade will provide ongoing business advisory input for the growth of the brand and assist with direct investor engagement.

Commenting on this significant milestone, Madame Thuy Le, Global CEO of VinFast Auto Ltd., said: “VinFast has accelerated the global electric vehicle (EV) revolution by making smart, safe, and environmentally friendly EVs accessible to everyone. Today’s successful listing not only supports VinFast’s commitment to sustainable mobility at a global scale but also unlocks access to the capital markets and important avenues for future development. Further, it is our hope that VinFast’s listing will inspire and unleash greater opportunities for Vietnamese brands to participate in the global market.”

VinFast has delivered close to 19,000 EVs including the VF e34, VF 5, VF 8, and VF 9 models, as of June 30, 2023. It is also preparing for the upcoming launch of the VF 3, VF 6, and VF 7 models in the Vietnamese and global markets. VinFast looks forward to building upon its rapid expansion as the company rolls out next-generation EVs and solutions, and carries out its strategy of expanding its footprint globally.

The company has established a strong foothold in its Vietnamese home market by rolling out its own charging network spanning across 63 cities and provinces, and plans to expand it further in the coming years. VinFast has also established a company-owned retail and service network of over 122 VinFast stores worldwide.

IPOs this week : Aug 7 - 13, 2023 (wk 32)

The Renaissance IPO ETF (NYSEARCA:IPO) has stood out this year, with a dynamic growth trend and return of 42% YTD. This impressive gain stands in contrast to the 17% rise of the benchmark S&P 500 Index during the same time period, demonstrating the IPO market's strong performance and capacity to capitalize on market opportunities.

IPOs expected to price

Coming IPOs (and de-SPACs) that are expected to price this week

Shareholders of Black Spade Acquisition (NYSE:BSAQ) will vote on whether to approve the proposed merger with VinFast on August 10. The EV company had submitted a Nasdaq listing application in December but later withdrew it due to the situation of the market. If approved, the combined company would have an estimated value of $27.1B, making it the largest de-SPAC of the year and the third-largest during the previous five years. Black Spade's stock reached a settlement price of $10.60 as of 8/3/23, which is slightly over the trust value of $10 per share at redemption and 6% higher than the transaction price.

Fitell (NASDAQ:FTEL) is raising $16.5M with an expected 3M shares priced between $5-$6 per share. Description: Australian gym equipment retailer.

Foremost Lithium Resource & Technology (NASDAQ:FMST) will be raising $8M by offering 1.5M shares priced between $5-$6 per share. Description: Canada-based resource exploration company.

LQR House (LQR) is raising $5M by offering 1M shares priced between $4-$6 per share. Description: Alcoholic beverage marketing company.

Vitro Biopharma (VTRO) is raising $10M with an expected 1.8M shares priced in the range of $5-$6 per share. Description: Biotechnology company.

Gamer Pakistan (GPAK) is raising $8M by offering 1.7M shares expected to priced between $4-$5 per share. Description: Esports event promotion and product marketing company.

Solowin Holdings (SWIN) is raising $10M with an expected 2.5M shares priced at $4 per share. Description: Online brokerage and investment advisory company.

Note: Many IPOs have been delayed recently, and there could be last-minute debut changes or cancellations.

IPO lockup expirations

Hesai Group (NASDAQ:HSAI) on 8/8/2023. Price movement over the past six months: -41.16%.

Lucy Scientific Discovery (NASDAQ:LSDI) on 8/8/2023. Price movement over the past six months: -62.88%.

Nextracker (NASDAQ:NXT) on 8/8/2023. Price movement over the past six months: +34.21%.

Enlight Renewable Energy (NASDAQ:ENLT) on 8/9/2023. Price movement over the past six months: +4%.

Mineralys Therapeutics (NASDAQ:MLYS) on 8/9/2023. Price movement over the past six months: -27.87%.

New notable filings

Richtech Robotics filed with the SEC to raise up to $22M in an initial public offering. It plans to list on Nasdaq under the symbol (RR). Description: e-commerce platform for grocery and travel.

Triller has filed to go public through direct listing on the NYSE under the ticker (ILLR). The company will not raise any additional funds through the listing, and existing owners will sell the listed Class A shares. The company hasn't yet provided information about the initial trading float, a reference price, or when it plans to list its securities. Description: Video sharing platform.

Vittoria filed with the SEC to raise up to $15M in an initial public offering. It plans to list on the Nasdaq under the symbol (VITT). Description: Hong-Kong based financial services firm.

Terms and changes

WeBuy reduced the proposed deal size for its upcoming IPO from 4M shares to 3.5M shares at a price range of $4.00 to $4.50. The company is expected to list on the Nasdaq under the symbol (WBUY).

SinglePoint has upsized its IPO offering to raise $8M from $6M. The company now plans to offer 1.6M shares (upsized from 1M shares) at $5. The company is currently listed on the OTC under the symbol (SING) and intends to uplist on the Nasdaq under the same symbol.

Inspire Veterinary Partners now plans to raise $31M by offering 6.2M shares (76% secondary) at a price range of $4 to $6. The company had most recently filed to offer 5.7M shares (83% secondary) in the same range.

Nature Wood Group plans to raise $9M by offering 0.9M ADSs at a price range of $9 to $11. It plans to list on the Nasdaq under the symbol (NWGL).

Withdrawals

EOM Pharmaceutical Holdings withdrew its plans for an initial public offering. It originally filed in June 2022 with a proposed deal size of $25M. The company is currently listed on the OTC Pink under the ticker (OTCPK:IMUC) and had planned to list on the Nasdaq under the symbol (EOM).