SGMT 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

Following the Independence Day lull, the July IPO market warmed up with two sizable biotechs, joined by two blank check companies. Surf Air Mobility (SRFM), which was expected to begin trading this past week, delayed its direct...read more

Sagimet Biosciences, a Phase 2 biotech developing a selective FASN inhibitor for NASH and cancers, raised $85 million by offering 5.3 million shares at $16, within the range of $15 to $17. The company offered 0.6 million more shares than anticipated. Sagimet is developing a portfolio of internally-discovered, selective fatty acid synthase (FASN) inhibitors for the treatment of...read more