Aug 9, 2021
Stash’s August 2021 IPO Calendar
By Stash Team
Find out about some noteworthy IPOs from the past month and coming up.
Check out Stash’s initial public offering (IPO) calendar, which includes public offerings from the past month, as well as offerings expected in the next 15 days. We’ve included companies with a market cap of $500 million or more. These might be available on Stash’s platform once they trade on the stock market.* We’ll update this information with upcoming offerings each month, using the same criteria.
*Stash is not endorsing any of the IPOs mentioned below. Stash does not offer the ability to participate in IPOs and encourages you to research any company yourself prior to investing. This calendar is for informational purposes only and is not a recommendation of any security. Stash is under no obligation to offer any investment listed on its platform. Following an IPO, the price of the newly issued stock can move significantly, so it’s especially important to remember the Stash Way®.
MeridianLink Inc., MLNK
- Based in Costa Mesa, California, MeridianLink is a software-as-a-service platform that works with financial institutions, particularly credit unions. The platform sold 13.2 million shares at $26 each.
PowerSchool Holdings Inc., PWSC
- This software company provides cloud-based insights and analytics solutions to K-12 schools. PowerSchool Holdings, which is based in Folsom, California, sold 39.5 million shares at $18 per share.
SnapOne Holdings Corp., SNPO
- Charlotte, North Carolina-based SnapOne Holdings is an electronics company that provides technology solutions for homes and businesses. SnapOne sold 13.9 million shares at $18 each.
Duolingo Inc., DUOL
- The mobile language and education platform reports it has been downloaded more than 500 million times from the Google Play and Apple App stores. Based in Pittsburgh, Pennsylvania, the company sold 5.1 million shares at $102 each.
Icosavax Inc., ICVX
- The biopharmaceutical company, based in Seattle, Washington, uses a virus-like particle (VLP) platform to develop vaccines, primarily against life-threatening respiratory illnesses. ICOSAVAX sold 12.1 million shares at $15 each.
Nuvalent Inc., NUVL
- The preclinical phase biopharmaceutical company develops precision targeted therapies for cancer. The Cambridge, Massachusetts-based company sold 9.8 million shares at a range between $17 a share.
Riskified Ltd., RSKD
- The Tel Aviv, Israel-based e-commerce platform helps online merchants manage and prevent fraud through machine learning and automated decision making. Riskified sold 17.5 million shares at $21 a share.
Traeger Inc. (TGPX Holdings | LLC), COOK
- The wood pellet grill system manufacturer lets people grill, smoke, bake, roast, braise, and barbeque with natural hardwoods. Based in Salt Lake City, Utah, Traeger sold 23.5 million shares at $18 each.
Robinhood Markets Inc., HOOD
- The mobile financial services platform offers stock trading to its 18 million customers, as of March 31, 2021, and the company says its mission is to “democratize” finance for consumers by lowering barriers to stock trading. Based in Menlo Park, California, the company sold 55 million shares at $38 a share.
Dole Plc., DOLE
- One of the largest producers of fruits and vegetables globally, Dole sells more than 300 products sourced from 30 countries around the world. Based in Dublin, Ireland, the company sold 25 million shares at $16.
Omega Therapeutics, OMGA
- Based in Cambridge, Mass., the biotech company has designed an epigenomic programming platform that helps with DNA sequence targeting and mRNA-encoded therapeutics. Omega sold 7.4 million shares at $17.
Rani Therapeutics Holdings, RAN
- The clinical stage biotherapeutics company has developed a proprietary technology that it says helps replace subcutaneous IV injection with oral dosing, or pills. Based in San Jose, California, the company plans to sell 6.7 million shares at $11.
Tenaya Therapeutics Inc., TNYA
- The biotechnology company develops three categories of therapies that address the underlying causes of cardiovascular disease. The categories are gene therapy, cellular regeneration and precision medicine. Based in San Francisco, California, the company sold 12 million shares at $15 each.
European Wax Center, EWCZ
- Based in Plano, Texas, the out-of-home waxing franchise had 808 locations in 44 states as of March 2021. The company sold 10.6 million shares at $17 per share.
Weber Inc., WEBR
- This outdoor grilling company makes traditional charcoal grills, gas grills, wood pellet and electric grills, and more. Weber, which is based in Palatine, Illinois, sold 17.9 million shares at $14 each.
Adagio Therapeutics, ADGI
- This Waltham, Massachusetts-based biopharmaceutical company develops antibody-based solutions for infectious diseases that could become pandemics. Adagio’s lead treatment is designed to target Covid-19. The company sold 18.2 million shares at $17 each.
Double Down Therapeutics, DDI
- Based in Seoul, South Korea, the computer software company makes digital games for mobile and web-based platforms, including its flagship game DoubleDown Casino. Double Down sold 6.3 million shares at $18 each.
Information about IPOs
Companies begin trading on a public stock exchange through a process called an initial public offering (IPO).
A company might go public to raise money to expand the company, to build new locations, or hire more people. Going public can allow the company to raise a lot of money quickly.
When a company decides to go public, it’ll work with an investment bank such as Goldman Sachs or J.P. Morgan in a process called underwriting. The bank will make sure all of the proper documents are prepared and find people who want to invest in the company through initial shares or IPO shares. Before the company goes public, it must file with the Securities and Exchange Commission (SEC), which is a federal agency in charge of regulating the company and keeping the company informed on those regulations and rules. Once the company goes public with SEC approval, it has to issue quarterly financial statements on the health of the company so that investors can stay informed.
Although it’s a less common approach to going public, a company can also choose to take its stock public through a direct listing. The company is still required to file with the SEC, but when a company lists shares directly, it doesn’t use a bank to go public. Instead, early investors in the company choose to sell their shares to the public. A direct listing allows the stock exchange to dictate the price of shares. By contrast, with a traditional IPO, the bank that underwrites the IPO will set an initial share price.
Good to know: Companies usually have a lock-up period following an IPO. A lockup period is when company insiders, such as employees granted stock options or executives who own shares, sign an agreement that prohibits them from selling shares for a specified period of time, often a period of six months. When lockup periods expire, insiders or other early investors may want to sell their stock in order to make a profit from their shares. When these insiders start to sell their shares, sometimes that can cause a company’s stock price to fall. Companies that go public through a direct listing typically do not have lock up periods.
Following an IPO, stock exchanges such as the New York Stock Exchange (NYSE) or the Nasdaq will list the stock so that investors can purchase shares of the newly listed stock. If you’re an investor, it’s important to know when companies are going public and the price at which they’re expected to trade if you’re interested in investing in those new companies.
Following an IPO, the price of the newly issued stock can move significantly, so it’s especially important to remember the Stash Way®.