Key facts
- Bending Spoons priced its IPO at $29 per share.
- Bending Spoons' IPO raised $1.7 billion.
- ITG priced its IPO at $16 per share.
- ITG's IPO was priced below its target range of $19 to $22.
- ITG's IPO raised $312.2 million.
- ITG plans to list on the Nasdaq under the ticker symbol "ITG".
- Lime priced its IPO at $25 per share.
- Lime expects net proceeds of approximately $141.6 million from its IPO.
- Nutrabolt is preparing for a potential $1 billion IPO.
- Short sellers have increased bets against SpaceX.
- Nearly a third of SpaceX's tradable shares are now sold short.
- Short sellers have incurred approximately $760 million in paper losses on SpaceX bets.
The initial public offering (IPO) market is seeing activity from various companies, with Bending Spoons, the owner of Vimeo and AOL, successfully pricing its IPO above its target range at $29 per share. This pricing is expected to raise $1.7 billion for the company, and its shares saw a surge on their Nasdaq debut. In a different outcome, digital infrastructure firm ITG priced its U.S. IPO at $16 per share, which was below its targeted range of $19 to $22. This pricing is set to raise $312.2 million for ITG, which plans to list on the Nasdaq under the ticker symbol "ITG".
Electric-bike and scooter rental company Lime, which is backed by Uber, has also priced its IPO at $25 per share, falling at the midpoint of its marketed range. Lime anticipates net proceeds of approximately $141.6 million from this offering. Looking ahead, Nutrabolt, the company behind C4 energy drinks and Bloom nutrition products, is reportedly selecting investment banks, including JPMorgan, Goldman Sachs, and Bank of America, to lead its potential $1 billion IPO. This move by Nutrabolt could signal a return for consumer and retail issuers to the IPO market.
In a separate development concerning a private company, short sellers have intensified their bets against SpaceX. Nearly a third of SpaceX's tradable shares are now being shorted. Despite this increased activity, these short wagers have already resulted in approximately $760 million in paper losses for the short sellers due to a rebound in SpaceX's stock value.