SOVO News

While capital markets are typically quiet in August, secondary activity picked up significantly during the month, hinting at a possible reopening of the IPO window heading into the fall. There were nearly 40 registered follow-on public offerings (FPOs) of $50+ million in August, compared to just nine in July. An uptick in FPOs is typically a leading indicator of greater IPO...read more

It was another busy week for the fall IPO market as 13 IPOs raised $4.6 billion led by restaurant payment processor Toast (TOST), which jumped 56% in its debut. Six SPACs also went public, and one IPO postponed: Canadian consumer products company Knowlton Development (KDC). The pipeline was fairly active, with seven IPOs and five SPACs...read more

Sovos Brands, which sells premium food brands including Rao's and noosa, raised $280 million by offering 23.3 million shares at $12, below the range of $14 to $16. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands including Italian food and sauce brand Rao's, yogurt brand noosa, Italian frozen meal brand Michael Angelo's, and pancake...read more

Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more. The largest deal of the week, Freshworks (FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer...read more