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Mister Car Wash began trading on the New York Stock Exchange on Friday.
NYSE
It’s another big day in the IPO market with seven companies, including five in biotechnology, making their trading debut.
Mister Car Wash and MissFresh are the only non-care related companies. Forming the biotech group: Acurx Pharmaceuticals, Alpha Teknova, Elevation Oncology, GH Research and Graphite Bio.
Mister Car Wash started life as a publicly traded company on the New York Stock Exchange. The rest is on the Nasdaq.
Seventeen companies were to list their shares this week; so far have priced 16. Some had strong opening days. Examples: on Thursday, Doximity (ticker: DOCS), which is a cloud-based digital platform for physicians, up 104%; biotech Miromatrix Medical (MIRO) up 69%; and data streaming platform Confluent closed 25% higher. On Wednesday, employment-screening firm
First Advantage Corp
(FA) rose 31%, while software company
spraying
(CXM) won 10%.
Full Truck Alliance
(YMM), the so-called Uber for trucks in China, gained 13% on Tuesday.
Acurx Pharmaceuticals (ACXP) delivered Friday’s smallest deal and was the first to start trading. Shares opened at $5.95, peaked at $6.98 and recently traded at $6.88, up nearly 15% from their bid price.
Company $15 million raised raised after selling 2.5 million shares for $6. Acurx develops antibiotics for infections resistant to treatment such as Clostridium difficile (C-diff), Enterococcus, Staphylococcus and Streptococcus.
Three biotech companies GH Research, Graphite Bio and Alpha Teknova have increased the size of their deals and priced them at the top of their projected reach.
GH Research (GHRS) $160 million raised miljoen after selling 10 million shares for $16 each. It had applied to offer 8.3 million shares for $14 to $16 apiece. GH develops drugs for the treatment of psychiatric and neurological disorders with an initial focus on depression, according to a prospectus. Shares opened at $22, peaked at $24.19 and recently changed hands at $21.60, up 35%.
Graphite Bio (GRPH) sold 14 million shares for $17 each, up from the 12.5 million shares of $15 to $17 each it planned to offer. Graphite is traded under the symbol GRPH. The Graphite Bios gene editing platform aims to treat diseases by correcting mutations, or replacing disease-causing cells or inserting new genes. Its lead product candidate targets sickle cell disease, according to a prospectus.
Alpha Teknova then came in at $96 million Sell 6 million shares for $16. The company planned to offer 5 million shares for $14 to $16 each. It will trade under the ticker TKNO. Alpha offers reagents up to 3,000 customers in the life sciences and pharmaceutical market.
Altitude oncology, that is: developing therapies to treat genomically defined cancer, collected $100 million. It sold $6.25 million for $16, the midpoint of its $15 to $17 price range. It trades under the symbol ELEV.
The biggest deal came from Mister Car Wash, which raised $562.5 million. Company 37.5 million shares priced at $15, the lower end of its $15 to $17 price range. The ticker is MCW. Founded in 1996, Mister Car Wash provides exterior and interior car cleaning services at 344 locations in 21 states, according to the prospectus.
Finally, Miss Fresh collected $273 million. The online supermarket start-up in Beijing has applied for aanvraag offer 21 million American Depositary shares for $13 to $16 each. Each AD share represents three Class B common shares, according to a prospectus. It ended up selling 21 million shares for $13, the low end of its price range, said one person familiar with the situation. It will be traded under the ticker MF.
Write to Luisa Beltran at [email protected]
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