Sharkninja (SN) : 1-year performance

SharkNinja offers the following categories of products: Cleaning Appliances, Cooking & Beverage, Food Preparation Appliances, and Other. Cleaning Appliances include corded & cordless vacuums, including handheld & robotic vacuums, as well as other floorcare products, such as steam mops and wet/dry cleaning floor products.

• Sector: Consumer Cyclical
• Industry: Furnishings, Fixtures & Appliances
• Full Time Employees: 3,300
• Founded by Mark Rosenzweig in 1997 
• Headquartered in Needham, Massachusetts
• https://www.sharkninja.com

IPOs this week : June 24 - 28, 24 (wk 26)

IPOs expected to price

• South Korean media company WEBTOON Entertainment (WBTN), 
• Australian natural gas E&P player Tamboran Resources (OTCPK:TBNRL), 
• biopharma firm OS Therapies (OSTX), and 
• Permian-focused LandBridge (LB) are expected to start trading during the week. 

Interestingly, LandBridge said it is pursuing crypto mining and data center businesses due to its access to water, roads, fiber optic infrastructure, and power as an oil field owner. 

IPO quiet period expirations

• The post-IPO quiet period expires on Kindly MD (KDLY) to free up analysts to post ratings.

IPOs this week : June 17 - 21, 24 (wk 25)

IPOs expected to price

• Nova Minerals (OTCQB:NVAAF), an Australian-listed mining exploration stage company, is expected to start trading on the New York Stock Exchange on Tuesday. The company is offering 888.9K American depositary shares at a price of $9/share. 
• Chinese office supplier and after-sale maintenance and repair services provider Eshallgo (EHGO)
• Clinical-stage biopharmaceutical firm Kairos Pharma (KAPA). 

IPO quiet period expirations

• NANO Nuclear Energy (NNE), 
• Silvaco Group (SVCO), and 
• Proficient Auto Logistics (PAL).

Health services provider Concentra files for an estimated $500 million IPO

Concentra Group Holdings Parent, an occupational health services provider being spun out of Select Medical, filed on Friday with the SEC to raise up to $100 million in an initial public offering. However, this is likely a placeholder for a deal we estimate could raise up to $500 million.

• https://www.concentra.com/

Concentra states that it is the largest provider of occupational health services in the US by number of locations. As of March 31, 2024, the company operated 547 stand-alone occupational health centers in 41 states, and 151 onsite health clinics at employer worksites in 37 states. It has also expanded its reach via its telemedicine program, serving 43 states and the District of Columbia. Concentra's network of approximately 11,000 colleagues and affiliated physicians and clinicians supported the delivery of services to more than 50,000 patients each business day on average during 2023.

The Addison, TX-based company was founded in 1979 and booked $1.8 billion in revenue for the 12 months ended March 31, 2024. It plans to list on the NYSE under the symbol CON. Concentra Group Holdings Parent filed confidentially on March 11, 2024. J.P. Morgan, Goldman Sachs, BofA Securities, Deutsche Bank, Wells Fargo Securities, Mizuho Securities, RBC Capital Markets, and Truist Securities are the joint bookrunners on the deal. No pricing terms were disclosed.

Lead Real Estate (LRE) : 9-month performance

 

SentinelOne (S) : 3-yearperformance

ticker: S

IPOs this week : June 10 - 14, 24 (wk 24)

IPOs expected to price

• Tempus AI (TEM) is focused on the use of AI in healthcare, providing data and analytics tools for precision medicine. Tempus AI is offering 11.1M shares in an expected range of $35 to $37 per share. 
• Commercial-stage biopharma firm Telix Pharmaceuticals (TLX). 

IPO quiet period expirations

• Armlogi Holding (BTOC), 
• JIADE (JDZG), 
• Raytech Holding (RAY), and 
• Super Hi (HDL).

Long trade : REPL +50% (6/23)

•   Wed 6/5; vol. 950K

 

 

IPOs this week : June 3 - 7, 24 (wk 23)

• Waystar – Lehi, Utah, 45 million shares, priced at $20-$23, managed by JP Morgan Goldman. Proposed Nasdaq symbol WAY. Business: Provides cloud-based revenue management software for the healthcare industry.

• Novelis – Atlanta, Ga., 45 million shares, priced at $18-$21, managed by Morgan Stanley BofA. Proposed NYSE symbol NVL. Business: US-based aluminum roller and recycler owned by India’s Hindalco.   Update Jun 4, 2024:  Novelis has postponed its U.S. listing of over $900 million, citing market conditions.

• Gauzy – Tel Aviv, 4.2 million shares, priced at $17-$19, managed by Barclays TD Cowen. Proposed Nasdaq symbol GAUZ. Business: Israel-based manufacturer of smart glass films.