13 IPOs and six SPACs went public in the week of September 20, 2021 led by Clearwater Analytics Holdings Inc (NYSE: CWAN) cloud-native software provider for investment accounting and analytics, raised $540 million at a $4,426 million market cap and finished 41% above its IPO price.
Mobile and digital payment processing and other services provider for restaurants, Toast Inc (NYSE: TOST) raised $970 million at a $22,858 million market cap and finished 39% above its IPO price.
Provider of SaaS solutions for invoicing, payments, and health practice management, EngageSmart Inc (NYSE: ESMT) raised $378 million at a $4,447 million market cap and finished 34% above its IPO price.
Business SaaS for customer support and IT projects provider, Freshworks Inc (NASDAQ: FRSH) raised $1,026 million at a $11,576 million market cap and finished 30% above its IPO price.
Digital-first retailer of ethically sourced fine jewelry, Brilliant Earth Group Inc (NASDAQ: BRLT) raised $100 million at a $1,035 million market cap and finished 30% above its IPO price.
The six SPACs went public this past week are:
1. HHG Capital (established businesses with strong free cash flow SPAC)
2. GigCapital5 (no selected target industry)
3. Argus Capital (Media, entertainment, and sports SPAC)
4. Direct Selling Acquisition (Domestically based direct selling businesses SPAC)
5. Live Oak Crestview Acquisition (no selected target industry)
6. Inflection Point Acquisition (Consumer and tech SPAC)
Together, all the SPACs raised a total of $1.2 billion.
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