Nov 3, 2021
Stash’s November 2021 IPO CalendarBy 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®.
Updated November 18, 2021
Fluence Energy Inc., FLNC
- The Arlington, Virginia-based clean energy storage company is a joint venture between Siemens and Applied Energy Services (AES). Fluence makes energy storage products, specifically for renewable energy sources. The company sold 31 million shares at $28 each.
Globablfoundries Inc., GFS
- The semiconductor foundry and manufacturer says it has developed an integrated chip used in billions of devices worldwide. Globalfoundries also says it has a library consisting of thousands of IP titles, and differentiated transistor and device technology. Based in Malta, New York, the company sold 55 million shares at $47 per share.
Solo Brands, Inc., DTC
- The outdoor lifestyle products company operates four brands, including Solo Stove, Oru Kayak, ISLE Paddle Boards, and Chubbies apparel. Based in Southlake, Texas, the company sold 12.9 million shares at $17 each.
Airsculpt Technologies, AIRS
- The body sculpting company offers contouring procedures to remove unwanted fat. Based in Miami, Florida, the company sold 7 million shares at $11 each.
HireRight Holdings Corp., HRT
- A provider of workforce risk management and compliance solutions, the company offers background screening, verification, identification, monitoring, and drug and health screening services. HireRight, based in Nashville, Tennessee, sold 22.2 million shares at $19 per share.
Udemy Inc., UDMY
- The education marketplace and platform offers business skill development courses in 75 languages and 180 different countries. Based in San Francisco, California, Udemy sold 14.5 million shares at $29 each.
- The biopharmaceutical company has developed specialties in cardiovascular, oncology, ophthalmology, inflammatory disease and respiratory disease, and has collaborated with pharmaceutical company Pfizer, among others, to develop commercial infrastructure in China. Based in Princeton, New Jersey, the company sold 20.3 million shares at $16 each.
Allbirds inc., BIRD
- Based in San Francisco, California, the maker of sustainable shoes focuses on minimizing environmental impact and reducing carbon emissions and waste in its products, such as its Wool Runner sneaker. Allbirds, which sells its products online and in approximately 27 stores, sold 20.2 million shares at $15 per share.
Arhaus Inc., ARHS
- The direct-to-consumer furniture business, based in Boston Heights, Ohio, offers premium home furnishings in a multi-channel environment. Arhaus sold 12.9 million at $13 each.
Cadre Holdings, CIAN
- The manufacturer and distributor of safety survivability equipment for first responders sells a variety of products including body armor, explosive ordnance disposal equipment and duty gear through both direct and indirect channels. Based in Jacksonville, Florida, Cadre sold 6 million shares at $13 each.
Evotec S.E. EVO
- The pharmaceutical drug development company partners with other companies, with the aim to discover and develop drugs for difficult-to-treat illnesses. Based in Hamburg, Germany, Evotec sold 20 million shares at $21.75 each.
- The personal finance platform provides educational content, tools, calculators, and product marketplaces to consumers. Based in San Francisco, California, the company sold 7.3 million shares at $18 per share.
Cian PLC, CIAN
- The Larnaca, Cyprus-based online real estate classifieds company focuses on the Russian real estate market. Cian’s platform allows buyers to get insights on the places where they might want to live or work. The company sold 18.2 million shares at $16 each.
Hertz Global Holdings Inc., HTZ
- The company rents cars globally. Hertz emerged from bankruptcy protection in June 2021, and its stock currently trades over the counter (OTC). Based in Estero, Florida, the company sold 44.5 million shares at $29 each. Note: Hertz is not conducting an IPO. It will reportedly go public through a NASDAQ uplift offering from the OTC Bulletin Board.
CI&T Holdings Inc., CINT
- The strategy, design, and software engineering services company helps businesses develop digital-first platforms. Based in Sao Paulo, Brazil, CI&T sold 13 million shares at $15 each.
- The cloud-based expense management software company offers products and services to businesses that helps them manage money. Based in Portland, Oregon, Expensify sold 9.7 million shares at $27 each.
Rivian Automotive, RIVN
- The manufacturer of electric SUVs, trucks, and vans taps both the consumer and commercial markets. Investors in the company include Ford Motors and Amazon. Rivian has also formed a partnership with Amazon, for which it says it will manufacture up to 100,000 delivery vans. Based in Irvine, California, the company hopes to sell 153 million shares at $78 each.
Lulu’s Fashion Holdings Inc., LVLU
- The retail company sells women’s apparel, primarily for millennials (ages 25-40) and Gen Z (ages 18-24). Lulu’s, which is based in Chico, California, sold 5.8 million shares at $16 each.
Vaxxinity Inc., VAXX
- Based in Dallas, Texas, the biotechnology company has developed a synthetic peptide vaccine platform to enable a new class of therapeutic drugs targeting Alzheimer’s and Parkinson’s diseases, as well as migraine and hypercholesterolemia. Vaxxinity sold 6 million shares at $13 each.
Weave Communications, WEAV
- The software company offers an all-in-one communications platform to help small businesses answer calls, schedule appointments, send text reminders, collect payments, and more. Weave, based in Lehi, Utah, sold 5 million shares for $24 each.
Braze Inc., BRZE
- The New York, New York-based software company enables brands to conduct cross-channel marketing campaigns. Braze sold 8 million shares at $65 per share.
Usertesting Inc., USER
- The software-as-a-service (SaaS) company has developed a video platform that allows businesses to see and hear feedback from real customers who engage with their products, designs, apps, processes, and concepts. Usertesting, based in San Francisco, California, sold 10 million shares at $14 each.
Iris Energy Ltd., IREN
- The Bitcoin mining company builds, owns, and operates data and electrical infrastructure to facilitate the mining of Bitcoin. Iris Energy, which is based in Sydney, Australia, sold 8.3 million shares for a price of $28 per share.
Sono Group NV, SEV
- The car manufacturer makes cars powered by solar energy, particularly its Sion model, which is an electric car powered by solar. Based in Munich, Germany, Sono Group sold 10 million shares for $15 each.
KinderCare Learning Center (KC Holdco), KLC
- The private provider of early childhood education and care services reports having 1,490 centers across the U.S. KinderCare, based in Portland, Oregon, serves children between the ages of six weeks and 12 years old. The company sold 23.7 million shares for $15 each.
Sweetgreen Inc., SG
- The restaurant chain, based in Los Angeles, California, offers fast, healthy food options. With 140 locations across 13 states and Washington, D.C., Sweetgreen sold 13 million shares for $28 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®.
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