11 IPOs and nine SPACs went public in the week of October 26, 2020, led by MediaAlpha (NYSE: MAX), a customer acquisition channel maker, raised $176 million at a $1.2 billion market cap and finished 78% above its IPO price. The Los Angeles, California-based company was founded in 2012 and booked $480 million in revenue for the 12 months ended June 30, 2020.
Intelligent circuit sensor (ICs) developer, Allegro Microsystems (NASDAQ: ALGM) raised $350 million at a $2.6 billion market cap and finished 31% above its IPO price. The Manchester, New Hampshire-based company was founded in 2013 and booked $613 million in revenue for the 12 months ended June 26, 2020.
Pool and spa care supplier, Leslie’s (NASDAQ: LESL) raised $680 million at a $3.1 billion market cap and finished 29% above its IPO price. The Phoenix, Arizona-based company was founded in 1963 and booked $1.0 billion in sales for the 12 months ended June 30, 2020.
Cloud-based service provider, Absolute Software (NASDAQ: ABST) raised $60 million at a $559 million market cap and finished 3% above its IPO price. The Phoenix, Arizona-based company was founded in 1963 and booked $1.0 billion in sales for the 12 months ended June 30, 2020.
Personal financial services platform provider Lufax (NYSE: LU) stock price slumped 5% on its first day of trading and close its first week at 5% below its IPO price, giving the company a market cap of approximately $32.9 billion. The Shanghai, China-based company was founded in 2005 and booked $7.4 billion in revenue for the 12 months ended June 30, 2020.
The nine SPACs went public this past week are:
1. Lux Health Tech Acq. (healthtech business SPAC)
2. Ajax I (no selected target industry)
3. New Beginnings Acq. (no selected target industry)
4. Mallard Acquisition (industrials business SPAC)
5. Atlas Crest Investment (no selected target industry)
6. CONX (wireless communications SPAC)
7. Bull Horn Holdings (leading sports, entertainment, and brand companies SPAC)
8. Bluescape Opp. Acq. (energy and industrial sectors SPAC)
9. Duddell Street Acq. (global growth companies SPAC)
Together, all the SPACs raised a total of $2.2 billion.
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