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Robinhood, Dole and four other companies with summer IPOs

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Jakub Porzycki / NurPhoto / Shutterstock

Jakub Porzycki / NurPhoto / Shutterstock

Several companies are launching IPOs this summer, Robinhood being the most anticipated.

Bloomberg reports that the six – mostly tech – companies that set the terms for their IPOs on Monday are looking to raise up to $ 4.7 billion combined. The offers will add to the already record US IPO market, which has raised $ 216 billion as of Monday, according to Bloomberg.

Here are the six companies that are launching IPOs this summer.

Ken Wiedemann / Getty Images

Ken Wiedemann / Getty Images

Alms

The commodity giant filed on Monday, saying it expects the IPO price to be between $ 20 and $ 23 per share, according to the SEC filing.

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Dole has already been public. Former CEO David Murdock privatized the company in 2013, according to Barrons.

Dole said he expects proceeds from the offering of about $ 472 million or about $ 543 million if the underwriters exercise their option to purchase additional common shares in full, according to the record.

The company also notes on the record that the COVID-19 outbreak continues to be an ongoing challenge for us and for the entire fresh food industry. The health and well-being of our people is our number one priority while recognizing the vital role of continuing to keep supply chains open and provide essential food. Our strong presence in the global fresh produce industry, the diversity of its operations and products, and the exceptional response of our staff have enabled us to meet these challenges.

LanaStock / Getty Images / iStockphoto

LanaStock / Getty Images / iStockphoto

PowerSchool

The educational software maker intends to raise $ 790 million and set stocks between $ 18 and $ 20, according to Bloomberg. PowerSchool has applied to list its Class A common stock on the New York Stock Exchange under the symbol PWSC, according to the SEC filing.

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The company says its mission is to power the education ecosystem with unified technology that helps educators and students realize their full potential, according to the SEC filing.

PowerSchool intends to use the net proceeds received from the IPO to repay outstanding debt, pay expenses incurred in connection with the offering and other related organizational transactions and for general corporate purposes. ‘company.

As part of the offer, PowerSchool will donate $ 1 million to philanthropic initiatives benefiting K-12 educators, according to a statement.

Thiago Prudencio / SOPA Images / Shutterstock

Thiago Prudencio / SOPA Images / Shutterstock

Robinhood Markets

After the much-anticipated Coinbases blockbuster IPO in April, Robinhood is hoping to follow suit.

The company updated its Securities and Exchange Commission prospectus on Monday, noting that it planned to sell shares at $ 38 to $ 42 each, according to the filing.

To learn: How does Robinhood make money? What you need to know before its IPO

The New York Times estimates that in the middle of that range, it would raise $ 2.2 billion and be valued at around $ 33 billion; at the high end, it would be worth around $ 35 billion. The $ 2.2 billion IPO would be the fifth largest listing this year, according to Bloomberg data.

Robinhood increased its funded accounts 151% year-over-year to $ 18 million, from $ 7.2 million according to the record. With $ 80 billion in assets under management, it will trade on the NASDAQ under the symbol HOOD, according to the prospectus. The prospectus also revealed that Robinhood is making a lot of money with Dogecoin.

An interesting point about the IPO is that Robinhood said in the prospectus that it will reserve 20-35% of its shares for retail investors through the platform it introduced in May, IPO Access. The new platform will allow retail investors to buy shares of companies at their IPO price, before trading on public exchanges and participating in upcoming IPOs with no minimum account.

Jakub Porzycki / NurPhoto / Shutterstock

Jakub Porzycki / NurPhoto / Shutterstock

Duolingo

Duolingo, the language learning app, has applied to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol “DUOL, according to the SEC filing.

Find: 8 best online tutoring jobs of 2021

It set the terms for its IPO on Monday with plans to offer 5.1 million shares priced at $ 85 to $ 95 each. The company would raise $ 484.5 million at the top of that range for a valuation of $ 3.4 billion, based on the 35.9 million shares that are expected to be outstanding once the deal closes, according to Reuters.

The Pittsburgh-based company said earlier it had more than doubled its revenue in the first quarter of this year, 72% of which came from subscriptions and nearly 17% from advertising, Reuters reports.

With more than 500 million downloads, its flagship app has organically become the world’s most popular way to learn languages ​​and the highest grossing app in the Education category on Google Play and Apple’s App Store, according to a statement.

Chunumunu / Getty Images / iStockphoto

Chunumunu / Getty Images / iStockphoto

risk

The risk management firm Riskified, whose goal is to enable businesses to realize the full potential of e-commerce by making it safe, accessible and frictionless, has set its offer price between $ 18 and $ 20 per share. , according to an SEC filing Monday.

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The company will be listed on the New York Stock Exchange under the symbol RSKD.

The company was founded in 2013 by Eido Gal and Assaf Feldman to solve online payment fraud.

It is backed by General Atlantic and Fidelity Management & Research and could raise up to $ 350 million in the high end. It is also targeting a valuation of more than $ 3 billion, according to Reuters.

popovaphoto / Getty Images / iStockphoto

popovaphoto / Getty Images / iStockphoto

Snap One

The electronics maker will appear on Nasdaq under the symbol SNPO. He set his offering price between $ 18 and $ 20 per share.

To learn: An iPhone may be your only new smartphone option, as chip shortages dominate manufacturing

The Company intends to use the net proceeds of the Offering to repay a portion of the Term Loan under its Credit Agreement plus accrued interest thereon as well as for general corporate purposes, according to a press release.

Snap One claims it powers smart life by providing a suite of products, services and software to do-it-for-me professional integrators.

The company intends to raise $ 291 million, according to Bloomberg.

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This article originally appeared on GOBankingRates.com: Robinhood, Dole and four other companies with summer IPOs

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