VEL News

Updated Monday, 7/13. Nine IPOs and one SPAC plan to raise $1.5 billion in the week ahead, led by health insurance marketplace GoHealth (GOCO). More deals could join the IPO calendar in the week ahead, including Apple workflow software provider Jamf (JAMF.RC) and environmental remediation company Montrose Environment (MEG). ...read more

Three Chinese issuers and a mortgage lender entered the public market this past week. All four priced below the midpoint. A German issuer and a SPAC submitted initial filings. Chinese property management company Phoenix Tree Holdings (DNK) priced below the range to raise $130 million (76% from insiders) at a market cap of $2.7 billion. One of the top three...read more

Velocity Financial, a mortgage lender focused on residential rental and small commercial properties, raised $94 million by offering 7.3 million shares at $13, below the range of $14 to $16. Velocity Financial plans to list on the NYSE under the symbol VEL. Wells Fargo Securities, Citi and JMP Securities acted as lead managers on the deal....read more

Five IPOs plan to raise $444 million in the week ahead. Chinese apartment rental platform Phoenix Tree Holdings (DNK) plans to raise $164 million at a $3.1 billion market cap. Operating under the name Danke Apartment, the company operates 391,911 units in China. Close peer Q&K International (QK) is down 29% from its November 2019 IPO. Chinese...read more