IPO Roundup: Danaher's dental spin-off Envista shows its pearly whites in strong public debut
Envista Holdings Corp (NYSE:NVST), a dental supply company being spun off from Danaher Corporation (NYSE:DHR), raised $589 million in its IPO. The Brea, California company offered 26.8 million shares at $28 per share, within its expected range of $21 to $24.
The stock opened trading at $25.94 and rose higher to $26.30, nearly 20% above its IPO price.
IGM Biosciences Inc (NASDAQ:IGMS), an immuno-oncology company based in Mountain View, California, had an upsized $175 million IPO. The company offered 10.9 million shares, 3.1 million more than expected, at a price of $16 per share, the center of its $15-to-$17 range.
Trading opened at $18.31 and ticked slightly higher to $18.42, 15% above its IPO price.
READ: IPO Roundup: Cloud-monitoring company Datadog chases $7 billion valuation this week
Additionally, business monitoring and analytics company Datadog Inc, bumped up its proposed IPO range ahead of its Wednesday night pricing.
The company said it now plans to offer 24 million shares at a price between $24 and $26 per share, up from its prior estimate between $19 and $22, according to a report from broker Renaissance Capital. That could net the company $600 million, compared to its original expectations of $492 million.
Elsewhere, the owner of WeWork opted to postpone its IPO on Tuesday, less than a week before the company was expected to go public. It’s been a rocky ride for the The We Company owner, which cut its market valuation to between $10 billion and $12 billion from the $47 billion it calculated in January.
Contact Andrew Kessel at [email protected]
Follow him on Twitter @andrew_kessel
Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/902980/ipo-roundup-danaher-s-dental-spin-off-envista-shows-its-pearly-whites-in-strong-public-debut-902980.html
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