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

While Wednesday’s initial public offering (IPO) of stock in Coinbase Global Inc. (NASDAQ: COIN | COIN Price Prediction) 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.

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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.

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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.

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