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IPO Roundup: Avantor, Bricktown Brewery and Fastly among this week’s hot IPOs

Over half a dozen IPOs are expected to price, including two pharmaceutical firms, an American comfort food chain, and a Chinese challenger to Starbucks
Tiles spell out the word diabetes
Applied Therapeutics, which debuted on the NASDAQ Tuesday, is focused on developing therapies for diabetic complications

Applied Therapeutics (NASDAQ:APLT), a developer of therapies for diabetic complications, started trading at $9.40 Tuesday on the tech-laden Nasdaq. The New York City clinical-stage biopharmaceutical company raised $40 million after pricing its IPO of 4 million shares at $10, well below the previously announced range of $14 to $16. Founded in 2016, the company’s lead drug candidate, AT-001, is being developed to treat Diabetic Cardiomyopathy, a disorder of the heart muscle in people with diabetes.

IPO Roundup: Uber in driver’s seat as IPO market heats up with a slew of companies going public this week

ConversionPoint Holdings

ConversionPoint Holdings Inc (NASDAQ:CPTI) will issue more than 6.15 million shares between $6 and $7 Tuesday to bring in about $49.54 million. Based in California, the e-commerce tech firm provides marketing, content and sales support to clients like The Coca-Cola Co (NYSE:KO) and Microsoft Corporation (NASDAQ:MSFT). In the last 12 months, ConversionPoint clocked $113.1 million in revenue, and a net loss of $44.2 million.

Bricktown Brewery Restaurants

Bricktown Brewery Restaurants LLC (NASDAQ:BEER) will issue 1.87 million shares between $7 and $9 Wednesday to raise about $19.41 million. The Oklahoma City local brewpub chain serves burgers, pizza, American comfort food and beer across Arkansas, Kansas, Missouri, Texas and Oklahoma.

Avantor Inc

Avantor Inc (NYSE:AVTR) will issue 154 million shares Friday to raise $3 billion by offering 154 million shares at a price range of $18 to $21. At the midpoint of the proposed range, Avantor would command a fully diluted market value of $8.6 billion. Founded in 1904, the Radnor, Pennsylvania-based company sells advanced technologies, lab supplies, ultra-high purity chemicals and reagents, silicone materials and clinical trial kits. It booked $5.9 billion in sales for the 12 months ended March 31, 2019. It plans to list on the New York stock Exchange under the symbol “AVTR.”

Fastly Inc

Fastly Inc (NYSE:FSLY) will issue 11.25 million shares between $14 and $16 Friday to raise about $207 million. The American cloud computing services provider has an edge cloud platform which provides a content delivery network, Internet security services, load balancing, video streaming and other web solutions for companies like The New York Times Co (NYSE:NYT). The eight-year-old company is one of several businesses that improve the download time and delivery of different websites to internet browsers.

Luckin Coffee Inc

Luckin Coffee Inc (NASDAQ:LK), the largest coffee chain in China after Starbucks Corp (NASDAQ:SBUX), will issue 30 million shares between $15 and $17 Friday to raise about $586.5 million. Luckin Coffee customers can order via an app without using cash and have coffee brought to their desks. It has expanded aggressively with the backing of investors such as BlackRock. “In just 18 months, it has opened 2,400 stores, making it around two-thirds the size of Starbucks in China. It has offered coupons and discounts to draw in new customers,” reported the Wall Street Journal. Revenue last quarter almost quadrupled from a year ago. However, Luckin lost nearly $300 million in the past four quarters.

Contact Uttara Choudhury at [email protected]

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