Primor Investment Group

2021-04-14 19:57:52 After a long pause, IPOs start coming back with a nice digital banking platform –– Alkami, in which we are taking part. *not an investment advice AlkamiTechnology, Inc. –– company focusing on a cloud-based digital banking platform development. Alkami's customer… Open / Comment

2021-04-14 00:49:55 After a long pause, IPOs start coming back with a nice digital banking platform –– Alkami, in which we are taking part.
*not an investment advice

AlkamiTechnology, Inc. –– company focusing on a cloud-based digital banking platform development. Alkami's customer base includes various banks and credit institutions that can use the platform to build offers for their retail and institutional clients.

Ticker –– ALKT
IPO listing date: 14/04/2021
IPO size: $150 million
Market cap: $2 billion
Listing price range: $26 – $28
Underwriters: Goldman Sachs, J.P.Morgan, Barclays, Citigroup, William Blair

Highlights
- Alkami services are subscription-based, which makes it a SaaS.
- The company caters to 160 clients, most of them have long term agreements with an average of 70 months;
- Alkami's average annual growth from 2018 to 2020 reached +53%
- As the application to SEC states, Alkami earnings amounted to $112M in 2020, which is 52% more than in 2019.
- The business value also increased in 2020: $52.90M against $43.10M in 2019.
- Since its inception in 2009, Alkami raised over $385M in investments, Crunchbase reports.
- It’s a “rising market”-friendly company, since it enables regional and supra-regional financial institutions in the United States to compete with large ones.


Downsides
- Very competitive market.
- The company is still unprofitable
- The placement of the company is small, only about $ 150 million, the allocation will be low


https://www.alkami.com/ Open / Comment

2021-04-01 01:25:16 Very nice start for one IPO but quiet poor for the second one

Coursera –– IPO opening increase price +21%
Achilles Therapeutics –– IPO opening fluctuation price -2%

Hopefully the allocation was miserable for ACHL IPO
Still 3 months to go… Open / Comment

2021-03-31 18:21:02 This one is very risky!

Achilles Therapeutics –– UK based biopharma company, focuses on developing drugs based on T-cell therapy for the treatment of multiple types of malignant tumours.
*not an investment advice

Ticker –– ACHL
IPO listing date: 31/03/2021
IPO size: $175 million
Market cap: $731 million
Listing price range: $17 – $19
Underwriters: JPMorgan, BofA Securities, Piper Sandler, Chardan, Oppenheimer & Co., Kempen & Co.

Highlights:
- Achilles Therapeutics created and patented PELEUS –– a platform that uses sophisticated statistical algorithms to process data from TRACERx database
- Achilles Therapeutics managed to raise $165.90M , from investors like Syncona Portfolio Limited, RA Capital Management, Forbion Capital Fund IV Cooperatief UA, and Baker Bros. Advisors LP.
- The global CAR-T cell therapy market is valued at $387.1 million in 2020 and a CAGR is expected to be 32.5% over the next 10 years
- Rising cancer incidence and an increase in the number of patients not responding to alternative treatments are expected to drive the growth of the global CAR-T cell therapy market
- Despite no revenue, and thanks to investments the company has $177.8 million in cash and $29.5 million in liabilities.

Downsides
- The company has no revenue . Whereas the expenses on research and development have increased by 157% over the past year
- Clinical development is a long and costly process with uncertain outcomes, and the results of earlier studies may not anticipate the results of future clinical trials.
- Any of their future products could cause undesired side effects that could stop their clinical development at any phase

https://achillestx.com/ Open / Comment

2021-03-31 17:58:31 Today we are taking part in 2 IPOs that will be listed during the day –– Coursera and Achilles Therapeutics
*not an investment advice

Coursera –– Founded back in 2012 by two Stanford University professors, the company aims at educating millions of students from all over the world, while also changing the way of traditional teaching.

Ticker –– COUR
IPO listing date: 31/03/2021
IPO size: $495 million
Market cap: $4.1 billion
Listing price range: $30 – $33
Underwriters: Morgan Stanley, Goldman Sachs, Citigroup, UBS Investment Bank

Highlights:
- Coursera has over 200 partners in 29 countries, including large colleges, universities, and corporations.
- Research and Markets report that the online education market is expected to reach $286 billion by 2023 and Coursera is one of the market leaders
- Coursera is valued at $2.60B, and its IPO is one of the most anticipated among all companies in the education industry.
- In July 2020, Coursera got more than $130 millions from 19 large investors, and currently, Baillie Gifford Oversea and Capital Research Global Investor are purchasing $125 million worth of shares during Coursera’s IPO
- Since its inception, the company raised $443M
- The company showed +59% revenue growth in 2020 compared to 2019

Downsides
- Fluctuations in quarterly and annual revenues and operating results could lead to fluctuations in its market price
- The company remains unprofitable , showing a net loss of $66.8 million (this value increased by 43% compared to 2019).
- Coursera has undergone significant net losses since its inception and expects to continue experiencing losses in the foreseeable future.

https://www.coursera.org/ Open / Comment

2021-03-27 01:16:58 During the day the price rose even higher to +107% by the end of the day, with an ATH at $48.51, or +145% from the opening price. That's a really nice start Open / Comment

2021-03-26 21:31:45 Today we found another interesting IPO in which we decided to take part! Finally an IPO from my favourite niche –– pharma *not an investment advice Design Therapeutics –– a company developing new genetic disease treatment. They created their own platform… Open / Comment

2021-03-26 18:12:48 Today we found another interesting IPO in which we decided to take part! Finally an IPO from my favourite niche –– pharma
*not an investment advice

Design Therapeutics –– a company developing new genetic disease treatment. They created their own platform, GeneTAC, which is designed for the treatment of degenerative disorders caused by hereditary extensions and nucleotide repeats. Their products are currently undergoing preclinical trials, while the clinical trials are scheduled for 2022.

Ticker –– DSGN
IPO listing date: 26/03/2021
IPO size: $228 million
Market cap: $1.02 billion
Listing price range: $18 – $20
Underwriters: Goldman Sachs, SVB Leerink, Piper Sandler

Highlights
- This company was created with the mission of being the first fully-integrated genetic drug company in its class.
- They currently have 2 drugs , both are in preclinical stages, for treatment of Friedrich ataxia and myotonic dystrophy type 1
- The global therapeutic market is expected to reach $128.9 billion by 2025
- Even though the revenue isn’t blatant, they are still profitable thanks to generated income from interest and grants from the government.
- The management of the company is very strong, including people with deep experience in this industry.

Downsides
- The company itself admits that investing in it at this stage is a high risk . However, this level of risk is common for this type of IPOs.
- They are at an early stage of development and all of their research programs are still in the preclinical or research stage.
- Their candidate products are based on new technologies, making it difficult to predict the timing, outcomes and costs of developing candidate products, as well as the likelihood of obtaining regulatory approval.

https://www.designtx.com/ Open / Comment

2021-03-25 23:10:11 Yesterday, I’ve told that today will be another interesting IPO –– Vizio. However, after deep analysis, we decided not to take part in this IPO. Anyways here it is, in case you would like to invest in it. You can take part in this IPO till 23/03/2021 5 pm… Open / Comment

2021-03-25 02:33:35 Today ACVA and DOCN were listed on NYSE

IPO ACV Auctions Inc., ticker ACVA , opening price increase +28%

IPO DigitalOcean Holdings, ticker DOCN , opening price change -7%
Even though this IPO didn’t open with a strong impulse as we usually see, it’s still a strong company with great potential. We now have 3 months till the end of the lock-up period, and we’ve frequently seen such IPOs recover during this period. Open / Comment