IPO Recap: Money-transfer fintech Remitly valued at $7.8 billion
On the last tradingday, the Dow Jones Industrial Average climbed 1.48%, while the S&P 500 index rose 1.21%, and the NASDAQ Composite index gained 1.04%.
On Thursday, there was one traditional IPO filed and seven new stock officially listed for trading. Customer engagement and payments software company $EngageSmart(ESMT.US$shares soar 42% on its first day of trading. The seattle fintech company $Remitly Global(RELY.US$rises 13% in its Nasdaq debut, valuing it at 7.8 billion.
ArisWaterSolutions, founded in 2015, is anenvironmental infrastructure and solutionscompany that helps customers reduce their water and carbon footprints.
Its integrated pipelines and related infrastructure deliver produced water management, recycling and supply solutions to operators in the core areas of the Permian Basin.
It provides environmental solutions to many of the most active and well-capitalized companies operating in the Permian Basin, including affiliates of ConocoPhillips, Occidental Petroleum Corporation, Exxon Mobil Corporation, Marathon Oil Corporation, Chevron Corporation and Mewbourne Oil Company.
Founded in 2011, $Remitly Global(RELY.US$'s mobile technology lets people send and receive money across borders, including immigrants in the U.S. and U.K. who support families back home in countries such as the Philippines, India, El Salvador, and others.
The service eliminates forms, codes, and agents typically associated with the international money transfer process.
The company posted $202 million in revenue and a $9.2 million net loss in the first six months of this year. It generated $257 million in revenue and a $32.5 million net loss in 2020, doubling its annual revenue and cutting its loss nearly in half.
Turnkey indoor farming solutions provider $Agrify(AGFY.US$, founded in 2016, is a developer of highly advanced and proprietary precision hardware and software grow solutions for the indoor agriculture marketplace.
Its Agrify "Precision Elevated" cultivation solution combines integrated hardware and software offerings with a wide range of associated services such as consulting, engineering, and construction, forming a complete solution.
As of September 23th, it has a market cap of $0.52 billion, with the listed to date gain of 154.90%.
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Riding the IPO wave, and find the new bull!
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