U.S. IPO Week Ahead: The IPO Market Cools Off In A 2-IPO Week

Following an active September, two IPOs are scheduled to raise $200 million in the week ahead.

Several companies could join the IPO calendar early in the week, such as Spruce Biosciences (SPRB), Shattuck Labs (STTK), and Kronos Bio (KRON).

Live TV streaming platform fuboTV (OTCQB:FUBO) plans to raise $150 million at a $1.4 billion market cap. Launched in 2015, fuboTV offers subscribers access to live sporting events annually as well as leading news and entertainment content through streaming devices. Fast-growing and highly unprofitable, fuboTV had over 300,000 paid subscribers in 2019. The company is currently listed on the OTCQB under the symbol FUBO.

Commercial-stage regenerative medical product maker Aziyo Biologics (AZYO) plans to raise $50 million at a $177 million market cap. Through its proprietary tissue processing platforms, the company has developed a portfolio of advanced regenerative medical products designed to be similar to natural biological material. While gross margin increased in the 1H20, revenue declined and losses widened.

U.S. IPO Calendar

Issuer
Business

Deal Size
Market Cap

Price Range
Shares Filed

Top
Bookrunners

Aziyo Biologics
Silver Spring, MD

$50M
$177M

$16 – $18
2,941,176

Piper Sandler
Cowen

Makes regenerative medical products for various tissue types.

fuboTV
New York, NY

$150M
$1,374M

$9 – $11
15,000,000

Evercore ISI
BMO

Offers a live TV sports-first streaming platform under the name fuboTV.

Street research is expected for Lightspeed POS (NYSE:LSPD) on Tuesday, 10/06.

Lock-up periods will be expiring for Keros Therapeutics (NASDAQ:KROS) on Monday, 10/5, and Inventiva (NASDAQ:IVA) on Thursday, 10/8.

IPO Market Snapshot

The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 10/1/20, the Renaissance IPO Index was up 72.2% year-to-date, while the S&P 500 was up 4.6%. Renaissance Capital’s IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (NASDAQ:ZM) and Uber (NYSE:UBER). The Renaissance International IPO Index was up 32.1% year-to-date, while the ACWX was down 4.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Meituan-Dianping and SoftBank.

Original Post

Editor’s Note: The summary bullets for this article were chosen by Seeking Alpha editors.

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