Shares of CrossFirst Bankshares ended the day higher after opening below the bottom of the stock's predicted range.
LATEST IPOS:
CrossFirst Bankshares (CFB) opened on August 15 at $14.50. The company had priced 7.011M shares at $14.50, below its $15.00-$17.00 target range. Keefe Bruyette, Raymond James and Stephens acted as joint book running managers for the offering. CrossFirst Bankshares is a Kansas corporation and a registered bank holding company for its wholly-owned subsidiary, CrossFirst Bank. CrossFirst Bank has seven full-service banking offices primarily along the I-35 corridor in Kansas, Missouri, Oklahoma and Texas.
9F Inc (JFU) opened on August 15 at $10.88. The company had priced 8.9M shares at $9.50, at the high end of its $7.50-$9.50 target range. Credit Suisse acted as lead book running manager for the offering. 9F Inc is a digital financial accounting platform that integrates and personalizes financial services in China.
PERFORMANCE:
- In its first trading day, CrossFirst Banckhares ended at $14.65.
- 9F Inc opened higher but finished the week at $9.98.
UPCOMING IPOS: Among the upcoming IPOs are Cloudflare (NET), We Company (WE) and SmileDirectClub (SDC).
Cloudflare is a cloud-security company, competing with cloud providers such as Amazon (AMZN) and Microsoft (MSFT). The company has faced some criticism recently for providing services to sites like 8chan.
We Company, previously We Work, rents out co-working spaces to start-ups, freelancers and enterprises. SoftBank (SFTBY) is one of WeWork’s biggest backers.
SmileDirectClub announced Friday that it has publicly filed with the SEC relating to a proposed initial public offering of shares of its Class A common stock. The company describes itself as the "industry pioneer as the first direct-to-consumer medtech platform for transforming smiles" via its clear aligner treatment.
Biovie (BIVI), a clinical-stage company developing therapies for cirrhosis, postponed its IPO. It had filed to raised $15M by offering 1.3M shares based on a price of $11.4.
"Opening Day" is The Fly's recurring series of stories on the latest initial public offerings, their performance, analyst commentary and upcoming IPOs.
