U.S. IPO Weekly Recap: Healthcare Software Leads $1.3B IPO Week; Novelis Calls Off IPO

Date:


IPO Initial Public Offering 3d concept

Olemedia

Five IPOs debuted this week and raised over $1.3 billion in proceeds. One SPAC also listed. One name that did not join the fray was aluminum company Novelis (NVL), which called off its planned $878 million IPO at

6 IPOs During the Week of June 3rd, 2024
Issuer Business Deal Size Market Cap at IPO Price vs. Midpoint First Day Return Return at 06/07

Rapport Therapeutics (RAPP)

$136M $633M 0% +22% +22%
Phase 2-ready biotech developing small molecule therapies for CNS disorders.

Life360 (LIF)

$155M $2,304M 0% +0% +1%
Provides a location sharing mobile app targeted to families.

Chenghe Acquisition II (CHEB.U)

$75M $103M 0% +0% +0%
Blank check company targeting businesses in or with a focus on Asian markets.

Fly-E Group (FLYE)

$9M $97M -11% +20% +0%
Makes and sells electric bikes, motorcycles, and scooters.

Waystar (WAY)

$968M $3,698M 0% -4% -4%
Provides cloud-based revenue management software for the healthcare industry.

Gauzy (GAUZ)

$75M $341M -6% -3% -7%
Israel-based manufacturer of smart glass films.

7 Filings During the Week of June 3rd, 2024
Issuer Business Deal Size Sector Lead Underwriter

Alumis (ALMS)

$100M Health Care Morgan Stanley
Phase 3-ready biotech developing kinase inhibitors for immune-mediated diseases.

Breathe BioMedical (BRTH)

$12M Health Care Maxim
Canadian medical technology company developing a breath test for breast cancer.

EQV Ventures Acquisition (EQVU)

$350M SPAC BTIG
Blank check company backed by EQV Group targeting the energy sector.

GigCapital7 (GIGGU)

$250M SPAC Spartan Capital
Blank check company led by semiconductor veteran Avi Katz.

Rising Dragon Acquisition (RDACU)

$50M SPAC Lucid Capital Markets
Blank check company targeting small-cap businesses.

UEOPLE Technology (UEOP)

$9M Technology Tiger Brokers
Provides intelligent parking equipment and related products in China.

M3-Brigade Acquisition V (MBAV.U)

$250M SPAC Cantor Fitz.
Blank check company led by turnaround veteran Mohsin Meghji targeting energy in North America.

U.S. IPO Calendar
Issuer Business Deal Size Market Cap Price Range Shares Filed Top Bookrunners

Telix Pharmaceuticals (TLX)

North Melbourne, Australia

$202M

$4,237M

$11.87

17,000,000

Jefferies

Morgan Stanley

Commercial-stage Australian biotech developing therapeutic and diagnostic radiopharmaceuticals.

Tempus AI (TEM)

Chicago, IL

$400M

$6,204M

$35 – $37

11,100,000

Morgan Stanley

JPMorgan

Provides data and analytics tools for precision medicine.



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