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US IPO Weekly Recap: Tech and life sciences fare well while SmileDirectClub falls flat in 6-IPO week

MDWL.RC

In the first busy week since the August break, six companies and two SPACs entered the public market. VC-backed health and tech fared well, led by 10x Genomics (TXG) and Cloudflare (NET), while SmileDirectClub (SDC) saw its initial hype evaporate. The largest deal of the week, SmileDirectClub (SDC)...read more

Migraine biotech Satsuma Pharmaceuticals prices upsized IPO at $15 midpoint

STSA

Satsuma Pharmaceuticals, which is developing a fast-acting dry powder nasal spray for migraines, raised $83 million by offering 5.5 million shares at $15, the midpoint of the $14 to $16 range. The company raised 10% more proceeds than expected by selling an additional 500,000 shares. Insiders had indicated on purchasing up to $25 million of the IPO (30% of the deal). Satsuma...read more

US IPO Week Ahead: IPO market is all smiles with 6 deals including SmileDirectClub

TXG

After a month-long break, the IPO market is picking up with six deals expected to raise $2.2 billion in the week ahead. Three companies are targeting IPO valuations of $3.5 billion or more. SmileDirectClub (SDC) is the week's largest offering, raising a proposed $1.2 billion at a market cap of nearly $8.0 billion. Over half of proceeds are going to insiders....read more

Migraine biotech Satsuma Pharmaceuticals sets terms for $75 million IPO

STSA

Satsuma Pharmaceuticals, a clinical-stage biotech developing a therapy for migraines, announced terms for its IPO on Tuesday. The South San Francisco, CA-based company plans to raise $75 million by offering 5 million shares at a price range of $14 to $16. Insiders intend to purchase $25 million worth of shares in the offering. At the midpoint of the proposed range, Satsuma...read more