Eight IPOs and 10 SPACs went public in the week of October 4, 2021 led by Volcon Inc (NASDAQ: VLCN), pre-revenue manufacturer of all-electric off road powersport vehicles, raised $17 million at a $123 million market cap and finished 66% above its IPO price.
Canadian provider of payment processing solutions to merchants and e-commerce platforms, Nuvei Corp (NASDAQ: NVEI) raised $369 million at a $17,539 million market cap and finished 7% above its IPO price.
Phase 2 biotech developing small molecule therapies for Alzheimer's and other CNS diseases, Cognition Therapeutics Inc (NASDAQ: CGTX) raised $45 million at a $304 million market cap and finished 6% above its IPO price.
Rental housing operators in the US and Canada, Tricon Residential Inc (NYSE: TCN) raised $446 million at a $3,250 million market cap and finished 3% above its IPO price.
Premium US health and fitness chain, Life TimeGroup Holdings Inc (NYSE: LTH) raised $702 million at a $3,591 million market cap and finished 4% below its IPO price.
The 10 SPACs went public this past week are:
1. Parsec Capital Acquisition (Space transport and technology SPAC)
2. Phoenix Biotech Acquisition (Healthcare in the US and Europe SPAC)
3. Maxpro Capital Acquisition (Healthcare and tech SPAC)
4. Mount Rainier Acquisition (Established tech-focused businesses SPAC)
5. Avalon Acquisition (Business in the financial services sector SPAC)
6. Crixus BH3 Acquisition (Real estate-focused businesses SPAC)
7. Schultze Special II (no selected target industry)
8. IX Acquisition (TMT and ICT industries in Europe and emerging markets SPAC)
9. Hawks Acquisition (Post-reorganized or highly levered businesses SPAC)
10. Enphys Acquisition (Renewable energy businesses in Ibero-America)
Together, all the SPACs raised a total of $1.7 billion.
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