Autonomous Trucks, Health Care and More: Thursday's IPOs

Investing

Published: April 15, 2021 9:15 am

Last Updated: May 10, 2021 12:23 pm

While Wednesday’s initial public offering (IPO) of stock in Coinbase Global Inc. (NASDAQ: COIN) may be hard to top in the excitement department, there are four more noteworthy non-SPAC IPOs launching Thursday.

While no single Thursday IPO can match Coinbase’s $85 billion opening day market cap, the four IPOs combined are set to add more than $44 billion to the value of U.S.-traded firms.

[in-text-ad]

Agilon

Agilon Health Inc. (NYSE: AGL) offers a software platform and what it calls “value-based” health care for seniors through its own Medicare Advantage plan. Agilon priced its IPO of 46.6 million shares at $23 a share, the top end of the proposed range.

The company stands to raise $1.07 billion in the IPO, at a market cap of about $8.3 billion. JPMorgan, Goldman Sachs, BofA, Deutsche Bank and Wells Fargo were lead managers for the IPO.

AppLovin

AppLovin Corp. (NASDAQ: APP) provides a platform that mobile app and game developers use to create and monetize new products. The company priced its IPO at $80 per share, the mid-point of the proposed range of $75 to $85.

The IPO will raise $2 billion for the company, at a market cap of more than $28 billion. Lead managers for the IPO include Morgan Stanley, JPMorgan, KKR, BofA, Citigroup, Credit Suisse and UBS Investment Bank.

Esports Technologies

Esports Technologies Inc. (NASDAQ: EBET) is developing and operating software platforms for esports and competitive gaming. The company priced its IPO at $6 per share, the top of its estimated range of $5 to $6.

Esports will raise $14.4 million in Thursday’s IPO, at a market cap of about $70 million. Boustead Securities was the sole bookrunner.

TuSimple

TuSimple Holdings Inc. (NASDAQ: TSP) is developing Level 4 autonomous driving technology for semi-tractor-trailer trucks. The company priced its IPO at $40 a share, above the estimated range of $35 to $39.

The deal will put $1.35 billion into TuSimple’s coffers, at a market cap of around $7.8 billion. Lead managers for the IPO were Morgan Stanley, Citigroup, JPMorgan, BofA, Cowen, Credit Suisse, Nomura and RBC Capital Markets.

24/7 Wall St.
The Semiconductor Shortage Is Massive and Growing: 4 Stocks to Buy Now

The Average American Is Losing Momentum On Their Savings Every Day (Sponsor)

If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4%¹ today. Checking accounts are even worse.

But there is good news. To win qualified customers, some accounts are paying more than 7x the national average. That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn a $200 bonus and up to 7X the national average with qualifying deposits. Terms apply. Member, FDIC.

Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.

¹https://www.fdic.gov/national-rates-and-rate-caps