Seven Houston-area companies have completed their Initial Public Offerings (IPO) since the beginning of September.
Academy Sports & Outdoors, raised $203 million by selling 15.6 million shares at $13, well below the range of $15 to $17. The shares (ACO) are currently trading at $14.76, giving the company a market capitalization of $1.3 billion. It has its head office in Katy.
Kiromic Biopharma completed its IPO on October 15. The company initially filed back in May. It is based in the Medical center district and is developing immunotherapies for blood cancers and solid tumors. Kiromic raised $15 million by offering 1.3 million shares at $12. This was at the low end of the range $12 to $14. It is trading on the Nasdaq under the symbol KRBP.
Greenwich Life Sciences is another biotech company developing immunotherapies for breast cancer. The company, based in Stafford, raised $7 million by offering 1.3 million shares at $5.75 each. That was much lower than the original plan of raising $21.6 million at $7.50 to $8.50 each.
The remaining companies that went public are blank check companies.
Good Works Acquisition Corp raised $150 million. The company has its head office in the Galleria. It will trade on the Nasdaq under the symbol GWACU.
It is focused on finding a business in financial distress with an enterprise value of between $400 million and $600 million. Fred Zeidmann is the Chairman and CEO. He has served as Chairman of Gordian Group LLC, a U.S. investment bank specializing in board level advice in complex financial matters since December 2014.
Landcadia Holdings III completed its IPO on October 8. It raised $500 million and is listed on the Nasdaq under the symbol LCYAU. This is the third blank check company launched by Tilman Fertitta, CEO of Landry’s and Richard Handler, the CEO of Jefferies. As before, the company plans to acquire a business in the consumer, dining, hospitality or entertainment sectors.
Peridot Acquisition Corp has its head office in the River Oaks area. It raised $300 million and is listed on the NYSE under the symbol PDAC.U
The company is looking to buy a business that focuses on environmentally sound infrastructure, industrial applications and disruptive technologies that eliminate or mitigate greenhouse gas emissions. The target should have an enterprise value of between $800 million and $2 billion. Carnelian, a PE firm based in Houston, is backing the company. It has $1.8 billion in cumulative equity commitments in traditional E&P companies.
Industrial Tech Acquisitions raised $75 million. The company has its head office in the Galleria area. It is seeking to buy a technology business operating in the industrial or energy area. This includes software, mobile and IoT (Internet of Things) applications, cloud communications and ultra-high bandwidth services. Targets would have an enterprise value of between $250 million and $500 million.
The complete list of Houston-area public companies can be found here.