{"id":17662,"date":"2021-02-26T08:07:47","date_gmt":"2021-02-26T13:07:47","guid":{"rendered":"http:\/\/www.ipoboutique.com\/blog\/?p=17662"},"modified":"2021-02-27T07:07:03","modified_gmt":"2021-02-27T12:07:03","slug":"ipo-pipeline-update-coinbase-direct-listing-digitalocean-files-s-1","status":"publish","type":"post","link":"https:\/\/www.ipoboutique.com\/blog\/ipo-pipeline-update-coinbase-direct-listing-digitalocean-files-s-1\/","title":{"rendered":"IPO Pipeline Update: Coinbase direct listing, DigitalOcean files S-1"},"content":{"rendered":"<p><!--more--><\/p>\n<p>If there is any &#8220;silver lining&#8221; with a zero IPO week&#8230;its that no IPOs had to endure a week with a volatile broader market.\u00a0 But the slowdown is soon to change.<\/p>\n<p>Two IPOs set terms for next week:\u00a0<strong>Oscar Health (OSCR) and InnovAge Holdings (INNV)<\/strong>.\u00a0 Additionally a handful of &#8220;interesting&#8221; companies filed paperwork for upcoming transactions including luxury winemaker, The <strong>Duckhorn Portfolio (NAPA)<\/strong>. and <strong>Digital Ocean Holdings (DOCN)<\/strong> &#8212; a cloud computing platform for small and medium sized businesses.<\/p>\n<p>It was unveiled this week that <strong>Coinbase Global (COIN)<\/strong> has elected to forego the traditional IPO route in place of a direct listing. The &#8220;crypto-economy&#8221; company<a href=\"https:\/\/www.cnbc.com\/2021\/02\/25\/coinbase-files-for-direct-listing-after-revenue-more-than-doubles-in-2020.html\"><strong> which doubled its revenue in 2020<\/strong><\/a> could be listed as early as March.<\/p>\n<p><a href=\"http:\/\/ipoboutique.com\/cgi\/initial-public-offering-pipeline.php\"><strong>Link to IPO Boutique&#8217;s IPO Pipeline<\/strong><\/a><\/p>\n<p><strong>NEW FILINGS<\/strong><\/p>\n<p>Company: Coinbase Global, Inc.<br \/>\nSymbol: COIN<br \/>\nShares: TBD<br \/>\nPrice Range: TBD<br \/>\nTrade Date: TBD<br \/>\nDescription: : They are building the cryptoeconomy \u2013 a more fair, accessible, efficient, and transparent financial system for the internet age that leverages crypto assets: digital assets built using blockchain technology.<br \/>\nUnderwriter(s): N\/A<br \/>\nFiled: 2-25-21<br \/>\nDirect Listing<\/p>\n<p>Company: DigitalOcean Holdings, Inc.<br \/>\nSymbol: DOCN<br \/>\nShares: TBD<br \/>\nPrice Range: TBD<br \/>\nTrade Date: TBD<br \/>\nDescription: DigitalOcean is a leading cloud computing platform offering on-demand infrastructure and platform tools for developers, start-ups and small and medium-sized businesses, or SMBs.<br \/>\nUnderwriter(s): Morgan Stanley, Goldman Sachs, JP Morgan, BofA Securities, Barclays, KeyBanc Capital<br \/>\nCo-Manager(s): Canaccord Genuity, JMP Securities, Stifel<br \/>\nFiled: 2-25-21<br \/>\nListed Cash Raise: $100m<\/p>\n<p>Company: The Duckhorn Portfolio Inc<br \/>\nSymbol: NAPA<br \/>\nShares: TBD<br \/>\nPrice Range: TBD<br \/>\nTrade Date: TBD<br \/>\nDescription: They are the premier scaled producer of luxury wines in North America.<br \/>\nUnderwriter(s): J.P. Morgan, Credit Suisse, Jefferies<br \/>\nCo-Manager(s): Barclays, BofA Securities, Citigroup, Evercore ISI, RBC Capital Markets<br \/>\nFiled: 2-23-21<br \/>\nListed Cash Raise: $100m<\/p>\n<p>Company: Vine Energy, Inc.<br \/>\nSymbol: VEI<br \/>\nShares: TBD<br \/>\nPrice Range: TBD<br \/>\nTrade Date: TBD<br \/>\nDescription: They are an energy company focused on the development of natural gas properties in the stacked Haynesville and Mid-Bossier shale plays in the Haynesville Basin of Northwest Louisiana.<br \/>\nUnderwriter(s): Citigroup, Credit Suisse, Morgan Stanley<br \/>\nFiled: 2-22-21<br \/>\nListed Cash Raise: $100m<br \/>\nPE Backed by Blackstone Group<\/p>\n<p>Company: Prometheus Biosciences, Inc.<br \/>\nSymbol: RXDX<br \/>\nShares: TBD<br \/>\nPrice Range: TBD<br \/>\nTrade Date: TBD<br \/>\nDescription: They are a biotechnology company pioneering a precision medicine approach to the discovery, development, and commercialization of novel therapeutic and companion diagnostic products for the treatment of inflammatory bowel disease (IBD).<br \/>\nUnderwriter(s): SVB Leerink, Credit Suisse, Stifel, Guggenheim Securities<br \/>\nFiled: 2-19-21<br \/>\nListed Cash Raise: $125m<\/p>\n<p>Company: Longboard Pharmaceuticals, Inc.<br \/>\nSymbol: LBPH<br \/>\nShares: TBD<br \/>\nPrice Range: TBD<br \/>\nTrade Date: TBD<br \/>\nDescription: They are a clinical-stage biopharmaceutical company focused on developing novel, transformative medicines for neurological diseases.<br \/>\nUnderwriter(s): Citigroup, Evercore ISI, Guggenheim Securities, Cantor<br \/>\nFiled: 2-19-21<br \/>\nListed Cash Raise: $86.25m<\/p>\n<p>Company: Olo, Inc.<br \/>\nSymbol: OLO<br \/>\nShares: TBD<br \/>\nPrice Range: TBD<br \/>\nTrade Date: TBD<br \/>\nDescription: Olo provides a leading cloud-based, on-demand commerce platform for multi-location restaurant brands.<br \/>\nUnderwriter(s): Goldman Sachs, JP Morgan, RBC Capital<br \/>\nCo-Manager(s): Piper Sandler, Stifel, Truist Securities, William Blair<br \/>\nFiled: 2-19-21<br \/>\nListed Cash Raise: $100m<\/p>\n<p>Company: Gain Therapeutics, Inc.<br \/>\nSymbol: GANX<br \/>\nShares: TBD<br \/>\nPrice Range: TBD<br \/>\nTrade Date: TBD<br \/>\nDescription: They are a development stage biotechnology company developing novel therapeutics to treat diseases caused by protein misfolding, with an initial focus on lysosomal storage disorders (\u201cLSDs\u201d), including rare genetic diseases and neurological disorders.<br \/>\nUnderwriter(s): BTIG, Oppenheimer<br \/>\nCo-Manager(s): National Securities\u200b<br \/>\nFiled: 2-19-21<br \/>\nListed Cash Raise: $40m<\/p>\n<p>Company: Karooooo Ltd.<br \/>\nSymbol: KARO<br \/>\nShares: TBD<br \/>\nPrice Range: TBD<br \/>\nTrade Date: TBD<br \/>\nDescription: Cartrack is a leading global provider of real-time mobility data analytics solutions for smart transportation<br \/>\nUnderwriter(s): Morgan Stanley, BofA Securities, William Blair<br \/>\nFiled: 2-26-21<br \/>\nListed Cash Raise: $100m<br \/>\nNote: The ordinary shares of Cartrack Holdings Limited, our subsidiary, are listed on the securities exchange operated by JSE Limited (the \u201cJSE\u201d) under the symbol \u201cCTK\u201d.<\/p>\n<p>\u2018<\/p>\n<p>Company: Connect Biopharma Holdings Limited<br \/>\nSymbol: CNTB<br \/>\nShares: TBD<br \/>\nPrice Range: TBD<br \/>\nTrade Date: TBD<br \/>\nDescription: They are a global clinical-stage biopharmaceutical company developing therapies for the treatment of T cell-driven inflammatory diseases.<br \/>\nUnderwriter(s): Jefferies, SVB Leerink, Piper Sandler, CICC<br \/>\nFiled: 2-26-21<br \/>\nListed Cash Raise: $100m<\/p>\n<p>Company: Intermedia Cloud Communications, Inc.<br \/>\nSymbol: INTM<br \/>\nShares: TBD<br \/>\nPrice Range: TBD<br \/>\nTrade Date: TBD<br \/>\nDescription: They provide a leading, proprietary cloud-based communications and collaboration platform, purpose-built for our extensive and expanding network of more than 7,000 channel partners and used by a growing base of over 122,000 business customers as of December 31, 2020.<br \/>\nUnderwriter(s): Morgan Stanley, JP Morgan, Credit Suisse, Evercore ISI, Jefferies<br \/>\nCo-Manager(s): William Blair, KeyBanc Capital, TD Securities, Stephens, Loop Capital<br \/>\nFiled: 2-26-21<br \/>\nListed Cash Raise: $100m<\/p>\n<p>Company: Finch Therapeutics Group, Inc.<br \/>\nSymbol: FNCH<br \/>\nShares: TBD<br \/>\nPrice Range: TBD<br \/>\nTrade Date: TBD<br \/>\nDescription: They are a clinical-stage microbiome therapeutics company leveraging our Human-First Discovery platform to develop a novel class of orally administered biological drugs<br \/>\nUnderwriter(s): BofA Securities, Jefferies, Evercore ISI<br \/>\nFiled: 2-26-21<br \/>\nListed Cash Raise: $100m<\/p>\n<p>Company: ACV Auctions Inc.<br \/>\nSymbol: ACVA<br \/>\nShares: TBD<br \/>\nPrice Range: TBD<br \/>\nTrade Date: TBD<br \/>\nDescription: They provide a vibrant digital marketplace for wholesale vehicle transactions and data services that offer transparent and accurate vehicle information to our customers.<br \/>\nUnderwriter(s): Goldman Sachs, JP Morgan, Citigroup, BofA Securities, Jefferies<br \/>\nCo-Manager(s): Canaccord Genuity, Guggenheim Securities, JMP Securities, Piper Sandler, Raymond James<br \/>\nFiled: 2-26-21<br \/>\nListed Cash Raise: $100m<\/p>\n<p>Company: Instil Bio, Inc.<br \/>\nSymbol: TIL<br \/>\nShares: TBD<br \/>\nPrice Range: TBD<br \/>\nTrade Date: TBD<br \/>\nDescription: They are a clinical-stage biopharmaceutical company focused on developing an innovative cell therapy pipeline of autologous tumor infiltrating lymphocyte, or TIL, therapies for the treatment of patients with cancer.<br \/>\nUnderwriter(s): Morgan Stanley, Jefferies, Cowen<br \/>\nCo-Manager: Truist Securities<br \/>\nFiled: 2-26-21<br \/>\nListed Cash Raise: $100m<\/p>\n<p>Company: Leonardo DRS, Inc.<br \/>\nSymbol: DRS<br \/>\nShares: TBD<br \/>\nPrice Range: TBD<br \/>\nTrade Date: TBD<br \/>\nDescription: DRS is a leading provider of defense products and technologies that are used across land, air, sea, space and cyber domains.<br \/>\nUnderwriter(s): Goldman Sachs, BofA Securities, JP Morgan, Barclays, Citigroup, Credit Suisse, Morgan Stanley<br \/>\nFiled: 2-26-21<br \/>\nListed Cash Raise: $100m<\/p>\n<p>Company: Tuya, Inc.<br \/>\nSymbol: TBD<br \/>\nShares: TBD<br \/>\nPrice Range: TBD<br \/>\nTrade Date: TBD<br \/>\nDescription: They have pioneered a purpose-built IoT cloud platform that delivers a full suite of offerings, including Platform-as-a-Service, or PaaS, and Software-as-a-Service, or SaaS, to businesses and developers.<br \/>\nUnderwriter(s): Morgan Stanley, BofA Securities, CICC<br \/>\nFiled: 2-26-21<br \/>\nListed Cash Raise: $100m<\/p>\n<p><b>TERMS ADDED<\/b><\/p>\n<p>Company: Oscar Health Inc<br \/>\nSymbol: OSCR<br \/>\nShares: 31 million<br \/>\nPrice Range: $32.00-$34.00<br \/>\nMarket Cap: $6.3b-$6.7b<br \/>\nTrade Date: Wednesday, 3\/3<br \/>\nDescription: Oscar is the first health insurance company built around a full stack technology platform and a relentless focus on serving our members.<br \/>\nUnderwriter(s): Goldman Sachs, Morgan Stanley, Allen &amp; Company, Wells Fargo Securities, BofA Securities, Credit Suisse<br \/>\nCo-Manager(s): Cowen, LionTree, Ramirez &amp; Co., Siebert Williams Shank<br \/>\nFiled: 2-5-21<br \/>\nListed Cash Raise: $100m<\/p>\n<p>Company: InnovAge Holding Corp<br \/>\nSymbol: INNV<br \/>\nShares: 16.7 million<br \/>\nPrice Range: $17.00-$19.00<br \/>\nMarket Cap: $2.3b-$2.55b<br \/>\nTrade Date: Thursday, 3\/4<br \/>\nDescription: They are the leading healthcare delivery platform by number of participants focused on providing all-inclusive, capitated care to high-cost, dual-eligible seniors.<br \/>\nUnderwriter(s): JP Morgan, Barclays, Goldman Sachs, Citigroup<br \/>\nCo-Manager(s): Baird, William Blair, Piper Sandler, Capital One Securities, Loop Capital<br \/>\nTerms Added: 2-24-21<\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":4,"featured_media":12986,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"zakra_general_container_width":0,"zakra_general_content_width":0,"zakra_general_sidebar_width":0,"zakra_sticky_header":"customizer","zakra_header_main_area":true,"zakra_site_logo_width":0,"zakra_header_top_enabled":"customizer","zakra_header_top_style":"customizer","zakra_primary_menu_item_style":"customizer","zakra_page_header_text_color":"","zakra_page_header_layout":"customizer","zakra_page_title_bg":"","zakra_footer_widgets_bg_image":0,"zakra_page_title_bg_repeat":"customizer","zakra_page_title_bg_position":"customizer","zakra_page_title_bg_size":"customizer","zakra_page_title_bg_attachment":"customizer","zakra_breadcrumbs_enabled":"customizer","zakra_breadcrumbs_text_color":"","zakra_breadcrumbs_separator_color":"","zakra_breadcrumbs_link_color":"","zakra_breadcrumbs_link_hover_color":"","zakra_page_title_bg_image":0,"zakra_footer_widgets_enabled":"customizer","zakra_footer_column_layout_1_style":"customizer","zakra_footer_widgets_bg":"","zakra_footer_widgets_bg_repeat":"customizer","zakra_footer_widgets_bg_position":"customizer","zakra_footer_widgets_bg_size":"customizer","zakra_footer_widgets_bg_attachment":"customizer","zakra_footer_bar_enabled":"customizer","zakra_footer_bar_style":"customizer","footnotes":""},"categories":[2058,1536],"tags":[],"class_list":["post-17662","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-spotlight","category-subscriber-content"],"_links":{"self":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/17662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/comments?post=17662"}],"version-history":[{"count":3,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/17662\/revisions"}],"predecessor-version":[{"id":17671,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/17662\/revisions\/17671"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/media\/12986"}],"wp:attachment":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/media?parent=17662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/categories?post=17662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/tags?post=17662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}