Peloton Leads a Crowd of Deals as the IPO Market Comes to Life

Peloton Leads Crowd of Deals as IPO Market Comes to Life

New firms keep going public as investors regain confidence in the stock market.

Exercise company Peloton (PTON), data-delivery player Cloudflare (NET) and dental supplier Envista (NVST) are some big names currently listed on ClickIPO. There are also biotechnology firms, software makers and a robotics pioneer.

Strong investor demand and a lineup of deals are driving the busiest initial public offering (IPO) market in five years. Low volatility has also made firms more comfortable raising capital. That’s been especially true as trade tensions ease between the U.S. and China.

“We expect a robust IPO calendar through the balance of 2019,” said Scott Coyle of ClickIPO, whose mobile app helps TradeStation clients access shares before they’re public. “There have been good market conditions and a backlog of private companies.”

kIPO app with upcoming offerings.
ClickIPO app with upcoming offerings.

Cloudflare, Datadog Tap the Markets

At least three deals priced today, including SmileDirectClub (SDC). Another trio’s scheduled for Friday:

  • Cloudflare (NET): The data-delivery and security company plans to issue about $455 million of shares.
  • Satsuma Pharmaceuticals (STSA) and SpringWorks Therapeutics (SWTX): The biotechnology firms are raising about $75 million and $125 million, respectively.

The activity continues into next week, with some larger transactions on Wednesday and Thursday:

  • Envista (NVST): Danaher (DHR) is spinning off the dental supplier. NVST plans to sell about $600 million of shares on Wednesday.
  • Datadog (DDOG) operates a data-monitoring platform for cloud-computing systems. It’s raising $492 million on Thursday.
  • Ping Identity (PING): A provider of identity-management tools helping enterprises manage access to cloud-based networks. PING plans to issue about $188 million next Thursday.

The other high-profile deal, PTON, is scheduled for the following week. ClickIPO shows the interactive exercise-bike company wants to raise about $1.1 billion on Thursday, September 26.

In conclusion, money keeps flowing into stocks as the economy remains solid and geopolitical worries fade. Companies are raising capital, and TradeStation clients can access deals via ClickIPO.

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David Russell is VP of Market Intelligence at TradeStation Group. Drawing on nearly two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them appraised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.