Second Week of September Could Be Busy for IPOs
The second week of September reportedly could be one of the busiest for sizeable initial public offerings (IPOs) since late 2021.
Six companies that filed for potential IPOs in August could begin marketing their listings at that time, Bloomberg reported Friday (Aug. 29).
Those companies include digital payments firm Klarna, crypto exchange Gemini Space Station and blockchain-finance firm Figure Technology Solutions, according to the report.
Other companies that could begin marketing their IPOs in the second week of September include HVAC engineering contractor Legence, beverage chain Black Rock Coffee Bar and public transportation software firm Via Transportation, the report said.
It was reported Tuesday (Aug. 26) that Klarna resurrected its plan to go public and was aiming for a valuation of between $13 billion and $14 billion.
The company announced March 14 that it filed to go public with the SEC. However, weeks after the announcement, like several other FinTechs, Klarna put its IPO plans on hold following the market shakeup triggered by U.S. tariffs.
Gemini filed for an IPO Aug. 15. PYMNTS reported at the time that the company’s planned IPO came amid an ongoing mainstreaming of the crypto sector following President Donald Trump’s return to office.
The company’s filing with the SEC showed that it had net losses of $282.5 million and revenues of $67.9 million for the first six months of the year. That’s compared to a $41.1 million net loss and revenues of $73.5 million during the first half of 2024.
Figure announced Aug. 4 that had filed confidentially for an IPO with the SEC. PYMNTS reported at the time that there has been a rebound in digital asset lending.
It was reported July 30 that investment banks Evercore and Stifel Financial expected IPOs to pick up in the second half, with heightened activity in the markets driven by a reduction in volatility and an easing of regulations by the White House.
During earnings calls, Evercore Chairman and CEO John Weinberg said: “We expect these positive trends to continue as we enter the second half,” and Stifel Financial CEO Ron Kruszewski said the company is “seeing early signs of a broader IPO recovery.”
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