time to read 1 minutes

Hurricane Ida ain’t stopping these IPOsINTL

Hurricane Ida ain’t stopping these IPOs

We’ve got a couple of exciting IPOs on our radar to share with you. To kick-off, let’s talk about San Francisco-based Samsara, a tech company that provides an integrated cloud-based fleet management platform for companies in a variety of industries such as transportation logistics, food production, energy, and construction. After receiving backing from high-profile venture capitalists like Andreessen Horowitz, General Catalyst, Tiger Global Management, and Dragoneer, Samsara filed IPO paperwork with the SEC last week.

Another company to keep an eye on is Cue Health. The San Diego-based biotech company has hit its stride over the past year after developing a Covid-19 diagnostic test that provides results in as little as 20 minutes. Cue’s test kit received emergency use authorization from the FDA in June of last year and was cleared for at-home and over-the-counter use in March of this year. Cue Health filed its IPO paperwork last week, as well with a maximum aggregate offering price of $100m.

why it matters

Many analysts are warning of an oversupply issue for the US IPO market after a record level of activity this year. More than $100b has been raised so far this year, a number not seen since the tech bubble of 1999 and 2000.