Opening Day: Monogram Orthopaedics stock soars in trading debut

Instacart and SoftBank’s Arm among in-focus, expected IPOs

Shares of Monogram Orthopaedics soared as much as 91% in their trading debut, following a $17M initial public offering. The company went public via a Regulation A+ IPO, which was created under the JOBS Act to help small companies get better access to capital. Other Regulation A+ IPOs include Knightscope (KSCP) and Chicken Soup for the Soul (CSSE).

LATEST IPOS AND DIRECT LISTINGS:

Monogram Orthopaedics (MGRM) opened for trading on May 18 at $10.15. Monogram describes itself as "a trailblazer" in the development of personalized, 3D-printed orthopedic implants facilitated by robotics and "cutting-edge" pre-operative imaging.

Caliber (CWD) opened for trading on May 17 at $3.80. The vertically integrated alternative asset manager had priced its upsized initial public offering of 1.2M shares of its Class A common stock at a public offering price of $4.00 per share. The company said it intends to use the net proceeds of the offering to "increase its capitalization and financial flexibility, create a public market for its Class A common stock, facilitate its future access to the capital markets and for other general corporate purposes."

Strong Global Entertainment (SGE) opened for trading on May 16 at $3.70. The company had priced its initial public offering of 1M shares at a public offering price of $4.00 per share. Strong Global manufactures and distributes large format projection screens, provides managed services, technical support and related products and services primarily to cinema exhibitors, theme parks, educational institutions, and similar venues.

PERFORMANCE:

• Monogram Orthopaedics ended the week at $13.50.
• Caliber finished Friday at $5.25.
• Strong Global Entertainment ended the week at $3.56.

UPCOMING IPOS:

Upcoming IPO and direct listings expected include SoftBank’s Arm, SeatGeek, Lottomatica, Alibaba’s Freshippo, and Zeekr.

Click here to see upcoming IPO calendar on TipRanks.

SoftBank Group (SFTBY), which said in March it planned to list chip maker Arm Ltd in the U.S. stock market, has filed with regulators confidentially for a U.S. stock market listing, people familiar with the matter told Reuters’ Anirban Sen and Echo Wang. Arm plans to sell its shares on Nasdaq later this year, seeking to raise between $8B and $10B, setting the stage for this year’s largest initial public offering, the sources said. SoftBank has been targeting a listing for Arm, which competes with Intel (INTC) and others, since its deal to sell the semi chip designer to Nvidia (NVDA) for $40B collapsed last year because of objections from antitrust regulators, the report noted.

Event ticketing company SeatGeek filed confidentially with regulators this month for an initial public offering, people familiar with the matter said, adding itself to a long list of firms aiming for IPOs once market conditions improve, The Information’s Cory Weinberg reports.

Lottomatica, the Italian gambling company backed Apollo Global Management (APO), plans to begin taking investor orders as soon as this week for an initial public offering that could raise about EUR 600M to EUR 700M, Bloomberg’s Swetha Gopinath and Daniele Lepido report, citing people familiar with the matter.

Freshippo, the Alibaba (BABA) grocery chain known for selling cooked lobsters and grouper freshly chosen from fish-tanks in the store, has started preparations for a Hong Kong initial public offering, Bloomberg’s Pei Li and Manuel Baigorri report, citing people familiar with the matter.

Zeekr, the upscale unit of Chinese EV maker Geely Automobile (GELYF), has confidentially filed for a U.S. initial public offering that values the company at more than $10B, reports Julie Zhu and Scott Murdoch for Reuters, citing people familiar with the matter. "The plans come as the brand, which competes with Tesla (TSLA) and Chinese peer Nio (NIO), sets its sights on marketing its 001 crossover" in Europe for 2023, added the Reuters story.

Instacart has been priming for a public market debut, but a potential IPO of the food and grocery delivery company may be delayed by a slowdown in growth as Instacart saw its gross order volume grow between 5% and 10% compared to the same period last year in the first quarter, down from the 16% growth rate seen for all of 2022, people briefed on the matter told The Information‘s Cory Weinberg. Instacart competes in the same space as public companies that include Uber (UBER) and DoorDash (DASH).

Opening Day" is The Fly’s recurring series of stories on the latest initial public offerings, their performance, analyst commentary and upcoming IPOs.

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