{"id":12407,"date":"2023-09-16T07:30:33","date_gmt":"2023-09-16T07:30:33","guid":{"rendered":"https:\/\/prosfunds.com\/news\/us-ipo-weekly-recap-arm-trades-up-after-raising-nearly-5b-in-2023s-largest-ipo-to-date\/"},"modified":"2023-09-16T07:30:36","modified_gmt":"2023-09-16T07:30:36","slug":"us-ipo-weekly-recap-arm-trades-up-after-raising-nearly-5b-in-2023s-largest-ipo-to-date","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=12407","title":{"rendered":"US IPO Weekly Recap: Arm Trades Up After Raising Nearly $5B In 2023’s Largest IPO To Date"},"content":{"rendered":"
\n

<\/picture>
<\/figcaption><\/figure>\n<\/p>\n

Five IPOs raised a combined $5.4 billion this past week, led by the blockbuster IPO of Arm<\/strong> (ARM). Three issuers submitted initial filings.<\/p>\n

The largest IPO of 2023 so far, Arm<\/strong> priced at the top of the range to raise $4.9 billion at a $52.9 billion market cap. Arm is an industry leader in central processing units (CPUs), stating that its energy-efficient CPUs are in over 99% of the world’s smartphones in 2022, and estimating that approximately 70% of the world’s population uses Arm-based products. The company saw revenue decline in its most recent fiscal year, largely due to issues in China, which it expects to continue in the near term. Arm traded up 25% in its debut, and finished the week up 19%.<\/span><\/p>\n

Radiopharmaceutical biotech RayzeBio<\/strong> (RYZB) priced its upsized IPO at the top of the range to raise $311 million at a $1.1 billion market cap. RayzeBio’s lead candidate is designed to deliver a highly potent alpha particle radioisotope to tumors overexpressing somatostatin receptor type 2. The company is enrolling a registrational Phase 3 trial for the treatment of gastroenteropancreatic neuroendocrine tumors. RayzeBio finished the week up 33%.<\/span><\/p>\n

Neuropsych biotech Neumora Therapeutics<\/strong> (NMRA) priced at the midpoint to raise $250 million at a $2.8 billion market cap. The company’s lead candidate is a novel once-daily oral kappa opioid receptor antagonist that is being developed for the treatment of major depressive disorder. Neumora is initiating a pivotal Phase 3 program, and expects topline results in the 2H24. It finished the week down 4%.<\/p>\n

Singaporean robotic cleaning equipment provider Simpple<\/strong> (SPPL) priced its downsized IPO at the low end to raise $8 million at an $84 million market cap. Simpple<\/strong> provides autonomous robotic cleaning equipment and relating software in Singapore, and has been adopted in schools, hospitals, and universities in the country. It finished the week down 7%.<\/p>\n

Macau-based forestry company Nature Wood Group<\/strong> (NWGL) priced its downsized IPO at the low end to raise $7 million at a $148 million market cap. The company is a vertically-integrated forestry companies with facilities in Peru, and produces a range of products such as logs, decking, flooring, and sawn timber. Nature Wood Group finished the week down 4%.<\/p>\n

<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
5 IPOs During the Week of September 11th, 2023<\/th>\n<\/tr>\n
Issuer Business<\/th>\nDeal Size<\/th>\nMarket Cap at IPO<\/th>\nPrice vs. Midpoint<\/th>\nFirst Day Return<\/th>\nReturn at 09\/15<\/th>\n<\/tr>\n<\/thead>\n
\n

RayzeBio (RYZB)<\/p>\n<\/td>\n

$311M<\/td>\n$1,112M<\/td>\n6%<\/td>\n+33%<\/td>\n+33%<\/td>\n<\/tr>\n
Phase 3 biotech developing radiopharmaceutical therapies for cancer.<\/em><\/td>\n<\/tr>\n
\n

Arm (ARM)<\/p>\n<\/td>\n

$4,871M<\/td>\n$52,914M<\/td>\n4%<\/td>\n+25%<\/td>\n+19%<\/td>\n<\/tr>\n
UK-based chip designer for smartphones and other markets.<\/em><\/td>\n<\/tr>\n
\n

Nature Wood Group (NWGL)<\/p>\n<\/td>\n

$7M<\/td>\n$148M<\/td>\n-10%<\/td>\n+7%<\/td>\n-4%<\/td>\n<\/tr>\n
Macau-based forestry company with operations in Peru.<\/em><\/td>\n<\/tr>\n
Neumora Therapeutics (NMRA) <\/td>\n$250M<\/td>\n$2,760M<\/td>\n0%<\/td>\n-4%<\/td>\n-4%<\/td>\n<\/tr>\n
Phase 3 biotech developing therapies for neuropsychiatric indications.<\/em><\/td>\n<\/tr>\n
\n

Simpple (SPPL)<\/p>\n<\/td>\n

$8M<\/td>\n$84M<\/td>\n17%<\/td>\n-7%<\/td>\n-7%<\/td>\n<\/tr>\n
Provides industrial robotic cleaning equipment in Singapore.<\/em><\/td>\n<\/tr>\n<\/table>\n

<\/span><\/span>