Eight US IPOs poised to break through government shutdown
The US government shutdown has done little to curb dealmaking, as companies are continuing to push ahead with IPOs despite a lack of input from the SEC.
MapLight Therapeutics is scheduled to make its Nasdaq debut on Monday after pricing on Sunday, a unique and unconventional twist to say the least. The Phase II biotech and its handlers locked in terms on the sale of 14.75m shares at a US$17 fixed price on October 6, becoming the first to employ securities rules that allow companies to go public without SEC sign-off.
Mexican flagship carrier Grupo Aeromexico and Washington DC-based government consultancy Public Policy are the latest IPO hopefuls to drop their delaying amendment from their IPO registration statement, starting the 20-day clock when they can make their US market debuts.
In what is the culmination of its recovery from bankruptcy, Aeromexico’s US$234.5m NYSE IPO is scheduled for takeoff on November 5. Public Policy and its US$60m Nasdaq cross-listing from LSE’s AIM is now eligible to debut on November 10, two days before its second-quarter results go stale.
Ahead of the November 12 staleness for companies with a December fiscal year-end, eight companies are poised to debut in the US.
Navan, a travel software provider, is expected to put the wraps on its US$960m Nasdaq IPO on October 29 and debut the following day.
Aeromexico, EV aircraft maker Beta Technologies (US$825m), HCI Group insurtech spin-off Exzeo Group (US$176m), medical diagnostics maker BillionToOne (US$211.5m), and skin disease-focused biotech Evommune are scheduled to debut the week of November 3.