IPO Roundup: Cloud-monitoring company Datadog chases $7 billion valuation this week

Five companies are expected to make their public debuts this week.

Pricing Tuesday night

Envista Holdings Corp (NYSE:NVST), a dental supply company being spun off from Danaher Corporation (NYSE:DHR), is seeking $602 million by offering 26.8 million shares at between $21 and $24 per share. The Brea, California-based company generated $2.8 million in total sales in 2018, and its operating companies serve more than 1 million dentists in 150 countries. 

IGM Biosciences Inc (NASDAQ:IGMS), an immuno-oncology company based in Mountain View, California, plans to raise $125 million offering 7.8 million shares at between $15 and $17 per share. The company is working to engineer antibodies to treat cancer patients. IGM hopes to begin a Phase 1 trial for the treatment of Non-Hodgkin’s lymphoma in 2019.

Pricing Wednesday night

Datadog Inc (NASDAQ:DDOG), a New York-based monitoring and analytics platform, expects to raise $492 million by offering 42 million at shares between $19 and $22 each. Such an IPO would give the company a $7 billion valuation, according to broker Renaissance Capital. Datadog’s Software-as-a-Service platform allows companies to manage their cloud operations and business teams while tracking business and performance metrics.

Ping Identity Holding Corp (NYSE:PING), an enterprise security platform provider based in Denver, hopes to raise $188 million offering 12.5 million shares at between $14 and $16 each. Ping’s platform is built to search for anomalies and insert additional security measures such as multi-factor authentication when necessary. As of June 30, the company claims to secure more than two billion identities globally across its customer base. 

Exagen Inc (NASDAQ:XGN), a producer of blood tests for autoimmune diseases, plans to offer 3.3 million shares at between $14 and $16 each to raise $50 million. The Vista, California company is commercializing products under its AVISE brand, which utilizes proprietary technology to help rheumatologists diagnose, prognose and monitor diseases such as systemic lupus erythematosus.

Contact Andrew Kessel at [email protected] 

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Story by ProactiveInvestors