RTLR News

Five IPOs and two SPACs plan to raise $634 million in the week ahead. One of the leading makers of cryptocurrency mining equipment, Canaan (CAN) plans to raise $100 million at a $1.6 billion market cap. It originally filed to raise $400 million (and in 2018 was rumored to be targeting over $1 billion). The #2 player in the space, Canaan has shown that...read more

Three companies raised $776 million this week, adding to what has been a red-hot May for IPOs. One SPAC also raised $250 million. Leading the week was IDEAYA Biosciences (IDYA), which rose 12% on its first day and finished the week at +13% from its IPO. The company, a Phase 1 biotech developing targeted therapies for genetically-defined cancers, raised $50...read more

Rattler Midstream LP, an oil and gas midstream services unit being spun out of Diamondback, raised $665 million by offering 38 million units at $17.50, within the range of $16 to $19. The company originally filed to offer 33.3 million units. Rattler Midstream LP plans to list on the Nasdaq under the symbol RTLR. Credit Suisse, BofA Merrill Lynch, J.P. Morgan, Barclays, Citi,...read more

Upcoming IPOs include four deals raising $868 million. In addition, a SPAC plans to raise $250 million. Don't expect many new additions to the calendar. After this week, the IPO market will get a short break, as companies hit pause until after Memorial Day. That said, new...read more