TSBX News

Large Tech IPOs Stage a Comeback in a Volatile 3Q The third quarter of 2023 produced 30 IPOs that raised a combined $7.8 billion, more than the proceeds raised in the full-year 2022 despite no significant increase in deal count from previous quarters. Chip giant Arm led activity, raising $4.9 billion in the largest...read more

Eleven issuers raised a combined $939 million in July, well below the 10-year average (22 IPOs, $5.1B). Four deals raised $80 million or more, along with the year’s first direct listing (SRFM), and a wave of small issuers, which have largely disappeared in recent months. The two largest IPOs, DTC beauty retailer ODDITY Tech (ODD) and inflammatory disease...read more

Three IPOs priced this past week, led by the latest consumer success story, ODDITY Tech (ODD). DTC retailer ODDITY Tech priced above the raised range to raise $424 million at a $2.2 billion market cap. ODDITY’s current portfolio includes cosmetics and personal care brands IL MAKIAGE and SpoiledChild, though the company believes its data-...read more

Turnstone Biologics, a Phase 1 biotech developing selected TIL therapies for solid tumors, raised $80 million by offering 6.7 million shares at $12, the low end of the range of $12 to $14. The company offered 0.9 million more shares than anticipated. Takeda had agreed to submit a non-binding indication of interest on $8 million worth of shares in the offering (10% of the deal); if...read more