Precision BioSciences (DTIL) : 5-year performance

ticker: DTIL

 

Marex Group began trading on the Nasdaq on Thur 25 Apr 24

Marex Group plc, a financial services platform, provides liquidity, market access, and infrastructure services to clients in the energy, commodities, and financial markets.

• British commodities broker
• Sector: Financial Services
• Industry: Capital Markets
• Full Time Employees: 1,063
• Incorporated in 2005 
• Headquartered in London, the United Kingdom
• https://www.marex.com

The company along with some of its existing shareholders raised $292.3 million in its IPO, selling nearly 15.4 million shares at $19 each, within its marketed range of $18 to $21.

The company's listing is yet another blow to London capital markets, which witnessed a series of notable departures last year as domestic or locally listed companies shifted to New York in pursuit of greater liquidity and higher valuations.

The broker, backed by private equity firm JRJ, confidentially filed for an IPO in New York last December, two years after the company's failed attempt to list in London.

"It has been a blow to the European bourses as European companies switch their primary listing and/or do glitzy launches on the NASDAQ and NYSE," said Michael Ashley Schulman, partner and chief investment officer at Running Point Capital Advisors.

IPOs this week : May 27 - 31, 24 (wk 22)

IPOs expected to price

No new IPOs are anticipated to launch in the week ahead. 

IPO quiet period expirations

• The quiet period ends on Viking Holdings (VIK) to free up analysts to post ratings. 

Viking and Ibotta (IBTA) will also release their first earnings reports as publicly traded companies.

Oklo Inc. (OKLO) began trading on the NYSE on Fri 10 May 24

Oklo Inc. manufactures an emission-free, megawatt-scale atomic generator. The company develops a new kind of nuclear reactor that's small, portable, waste, and carbon-negative. Oklo Inc. has a partnership with Argonne National Laboratory. 

Oklo plans to supply provide clean, reliable, affordable energy to customers across the artificial intelligence, data center, energy, defense, and industrial markets, among others.

• Sector(s): Utilities
• Industry: Utilities - Regulated Electric
• Full Time Employees: 78
• Incorporated in 2013 
• Based in Santa Clara, California.
• https://www.oklo.com

IPO: Fri 10 May 2024  after completing its business combination with AltC Acquisition Corp.

 

 

 

Oklo is working with the Idaho National Laboratory (INL) to develop the Aurora Powerhouse 

Oklo anticipates the first commercial Aurora powerhouse will be deployed in 2027. 

Oklo's Aurora powerhouse

The Aurora Powerhouse is a small, modular nuclear reactor designed by Oklo to produce clean, emission-free energy. 

It is a liquid-metal-cooled fast reactor that is designed to operate on both fresh high-assay low-enriched uranium (HALEU) and used nuclear fuel. 

The Aurora Powerhouse is intended to be low-cost, reliable, and have a small footprint.

Features:

• Fuel: Uses recycled high-assay, low-enriched uranium (HALEU)
• Power output: Can produce up to 50 megawatts of electricity
• Heat: Can produce usable heat
• Refueling: Can operate for 40 years without refueling
• Cooling: Uses heat pipes for heat removal
• Core: Buried underground

Applications:

• Data centers: Can power AI, cloud, and enterprise data centers
• Factories: Can power industrial sites
• Communities: Can power communities facing unreliable energy supplies
• Defense facilities: Can power bases

UL Solutions (ULS) : 1-month performance

 

Viking Holdings (VIK) : 3-week performance

 Ticker: VIK

 

Cambium Networks (CMBM) : 5-year performance

ticker: CMBM

IPOs this week : May 20 - 24, 24 (wk 21)

IPOs expected to price

• Bowhead Specialty (BOW), a specialty property and casualty insurance provider. 

IPO quiet period expirations

• Rubrik (RBRK), 
• Loar Holdings (LOAR), 
• Marex Group (MRX), 
• Neo-Concept International Group (NCI) to free up analysts to post ratings. 

Loar (LOAR) is the only one in the group that has rallied since going public. 

IPO lockup expirations

The IPO lockup period expires for a block of shares of Elevai Labs (ELAB).

Super Hi International (HDL) began trading on the Nasdaq on Fri 17 May 24

Super Hi International (HDL), an investment holding company, operates Haidilao branded Chinese cuisine restaurants in Asia, North America, and internationally. The company is involved in the food delivery business. It also engages in sale of hot pot condiment products and food ingredients.

• Sector: Consumer Cyclical
• Industry: Restaurants
• Full Time Employees: 12,521
• Incorporated in 2022
• Based in Singapore
• https://www.superhiinternational.com

Ticker: HDL

 

 

Gritstone Oncology (GRTS) : 6-year performance

Gritstone bio, Inc., a clinical-stage biotechnology company, engages in developing vaccine-based immunotherapy candidates against cancer and infectious diseases. 

• Headquarters: Emeryville, California
• Founded: August 2015
• IPO: September 28, 2018
• The company changed its name to Gritstone bio, Inc. in May 2021. 
• Ticker: GRTS

Gritstone bio, Inc. has a strategic collaboration with bluebird bio, Inc.; collaboration agreement with Gilead Sciences, Inc.; and license agreement with Genevant Sciences GmbH. 

The company reported on clinical trial outcomes for its cancer vaccine, GRANITE. Although some data were promising, particularly in certain patient subgroups, the overall results were not as compelling as hoped, leading to stock price declines.

On October 10, 2024, Gritstone bio, Inc. filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware.

The company's shares were delisted from Nasdaq following its bankruptcy filing, with trading suspension announced to start on October 22, 2024. The stock symbol transitioned to GRTSQ due to the bankruptcy proceedings.

 

Oct 18, 24:

 

 

Grupo Aeroméxico S.A.B. de C.V. files NYSE IPO with backing from Apollo, Delta Air Lines

Grupo Aeroméxico S.A.B. de C.V. has filed plans to go public on the New York Stock Exchange about two years after it emerged from Chapter 11.

(Reuters) - Grupo Aeroméxico SAB de CV recorded a 29% jump in revenue for 2023, the Mexican airline disclosed in its paperwork for an initial public offering in the United States on Monday, more than two years after it exited bankruptcy proceedings.

The company is among many that have flocked towards U.S. bourses in recent months as they seek to tap into the broader pool of capital and richer valuations that American markets offer.

 

The Mexico City-based carrier plans to offer American Depositary Shares under the symbol AERO with underwriters Barclays, Morgan Stanley, JPMorgan, Evercore ISI and Apollo Global Securities, according to a late Monday filing.

The company has yet to propose any financial terms for the IPO with an estimated price range, number of shares to be offered and dollar proceeds.

Mexico City-based Aeroméxico said it's "uniquely positioned" as the only full-service carrier based in Mexico and the only airline offering long-haul, widebody service connecting every major city in Mexico and 43 international cities in 22 countries.

Although the COVID-19 pandemic derailed its business and forced it into bankruptcy in 2020, Aeroméxico rang up operating income of $716 million on revenue of $4.9 billion in 2023. It reported $203 million in operating income in 2023 on revenue of $3.8 billion. 

Apollo Global Management (APO) currently owns about 22.4% of Aeroméxico's stock - or about 30.5 million shares.

Delta Air Lines Inc. (DAL) owns about 20% of the company - or 27.28 million shares.

Apollo emerged as the largest shareholder in the company after it provided a $1 billion loan to Aeroméxico as part of its debt restructuring in 2022.

About $650 million of the original principal amount was converted into equity.

Andrés Conesa Labastida, who has been chief executive of Aeroméxico since 2005, also holds a Ph.D. in economics from the Massachusetts Institute of Technology.

The company is going public during a relatively strong period for airline stocks.

The U.S. Global Jets ETF JETS is up 10.1% in 2024, compared to a 9.5% gain by the S&P 500 SPX.

Rekor Systems (REKR) : 7-year performance

Rekor Systems is a traffic services company that offers traditional traffic studies, AI-driven traffic studies, and traffic engineering services.

• Sector: Technology
• Industry: Software - Infrastructure
• Full Time Employees: 347
• Founded by James K. McCarthy
• Incorporated in 2017 
• Headquartered in Columbia, Maryland
• https://www.rekor.ai

Went public on AUg 25, 2017 following the merger of Brekford Traffic Safety, Inc. and KeyStone Solutions, Inc.

 

Sibanye Stillwater (SBSW) : 11-year performance

ticker: SBSW

IPOs this week : May 13 - 17, 24 (wk 20)

IPOs expected to price

• Online casino gaming content provider Games Global (GGL), 

• Chinese education services company JIADE (JDZG), 

• and medication management firm Kindly MD (KDLY). 

IPO quiet period expirations

The analyst quiet periods end for 

• Centuri Holdings (CTRI), 

• Ibotta (IBTA), 

• Tungray Technologies (TRSG), 

• Serve Robotics (SERV), 

• Mingteng International (MTEN), 

• Junee (JUNE), 

• Top Wealth Group Holding (TWG), 

• and mF International (MFI). 

Of the group, Tungray Technologies (TRSG) has seen the biggest post-IPO share price gain.

Auna S.A. (AUNA) began trading on the NYSE on Fri 22 Mar 24

Auna S.A., a healthcare service provider, operates hospitals and clinics in Mexico, Peru, and Colombia. The company provides prepaid healthcare plans in Peru; and dental and vision plans in Mexico. 

• Sector(s): Healthcare
• Industry: Medical Care Facilities
• Full Time Employees: 14,734
• Founded in 1989 
• HQ in Luxembourg, Luxembourg
• https://aunainvestors.com

 AUNA Auna S.A. (NYSE) priced 30.0 mln share IPO at $12.00 per share, below the expected

$13-15 range

Opened at $9.51 

Smith Douglas Homes (SDHC) began trading on the NYSE on Thur 11 Jan 24

Smith Douglas Homes Corp. engages in the design, construction, and sale of single-family homes in the southeastern United States.

• Sector(s): Real Estate
• Industry: Real Estate - Development
• Full Time Employees: 364
• Founded in 2008 
• Headquartered in Woodstock, Georgia
• https://smithdouglas.com

Smith Douglas Homes priced 7.7 mln share IPO at $21.00 per share, at the high end of the $18-21 expected range.

Viking Holdings (VIK) began trading on the NYSE on Wed 1 May 24

Viking Holdings Ltd engages in the passenger shipping and other forms of passenger transport in North America, the United Kingdom, and internationally.

As of December 31, 2023, it operated a fleet of 92 ships, including 81 river vessels comprising 58 Longships, 10 smaller classes based on the Longship design, 11 other river vessels, and 1 river vessel charter and the Viking Mississippi; 9 ocean ships; and 2 expedition ships.

• Sector: Consumer Cyclical
• Industry: Travel Services
• Full Time Employees: 9,500
• Founded in 1997
• Based in Pembroke, Bermuda.
• https://www.viking.com

Viking Holdings priced 64,041,668 share IPO at $24.00 per share, at the higher end of the $21-25 expected range.

Ticker: VIK

 

 

 

IPOs this week : May 6 - 10, 24 (wk 19)

IPOs expected to price

• A $229.3M IPO by specialized freight company Proficient Auto Logistics (PAL). The Jacksonville, Fla.-based firm is planning to sell 14.3M shares at an expected IPO price between $14/share to $16/share. The company provides auto transportation and logistics services, primarily focused on moving finished vehicles from automotive production facilities, marine ports of entry, or regional rail yards to auto dealerships. 
• Silvaco Group's (SVCO) $114M IPO is also expected this week. Silvaco (SVCO) is a provider of technology computer-aided design software, electronic design automation software and semiconductor intellectual property. 

IPO lockup expirations

• Cargo Therapeutics (CRGX) and 
• Hamilton Insurance (HG).

CG Oncology (CGON) : Cretostimogene monotherapy demonstrated 75.2% complete response rate

CG Oncology announces that data from the Phase 3 BOND-003 study evaluating the efficacy and safety of cretostimogene monotherapy in patients with high-risk Non-Muscle Invasive Bladder Cancer unresponsive to Bacillus Calmette Guerin, showed that 75.2% of

patients achieved a complete response at any time, as of the cutoff date of April 1, 2024

IPO Jan 25, 24: CG Oncology (CGON) priced upsized 20.0 mln share IPO $19.00 per share, above the $16-18 expected range

The IPO was upsized from 17.0 mln shares, which was upsized from the original 11.8 mlnshares.

Ticker: CGON

• Founded: 2010
• Headquarters: Irvine, California
• Website: cgoncology.com
• Employees: 61