This story was originally published here.
After little activity because of the impact of the novel coronavirus, the IPO market is starting to get into gear. It certainly helps that the markets have remained solidly in the bullish phase and companies have been able to adapt to work-at-home arrangements. So for upcoming IPOs, we will likely see an active summer.
Some of the recent offerings do show that investors are eager for deals. There was the IPO for SelectQuote (NYSE:SLQT), which operates a platform to sell Medicare Advantage and other insurance products. The shares are up about 35% or so.
Then there was the IPO for Inari Medical (NASDAQ:NARI). The company is a medical device maker for clot and vein removal. The stock has since gained 138%.
So then, what are some of the upcoming IPOs? Well, in the next month, we will see some interesting deals — many of which are biotech companies.
Let’s take a closer look at these seven upcoming IPOs…
Upcoming IPOs to Watch: ZoomInfo (ZI)
Among the upcoming IPOs, ZoomInfo is actually one of the few tech deals. The company operates a cloud platform that provides data analytics for sales and marketing teams. The service helps to target the right prospects as well as reduce the sales cycle. Consider that the database is massive with about 14 million companies.
The company has also leveraged next-generation technologies like artificial intelligence and machine learning. To this end, the technology helps to find actionable insights among billions of data points.
In terms of the market opportunity, the company estimates it has $24 billion. To put this into perspective, Zoominfo’s revenues were $341 million for the year ended March 31 (there are about 202,000 paid users). In other words, there’s much more room for growth.
During the past few years, the company has been the target of M&A transactions as well. In 2017, Great Hill Partners acquired Zoominfo and then in 2019 the business was sold to DiscoverOrg.
And regarding the IPO, the company plans to issue 44.5 million shares at a range of $16 to $18 and the ticker is ZI. The lead underwriters include J.P. Morgan (NYSE:JPM), Morgan Stanley (NYSE:MS), Barclays (NYSE:BCS), Credit Suisse (NYSE:CS), BofA Securities (NYSE:BAC), Deutsche Bank (NYSE:DB), RBC Capital Markets, UBS Investment Bank (NYSE:UBS) and Wells Fargo (NYSE:WFC).
Editor's Note: Click here to read about the rest of the IPOs.
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