Four small IPOs priced this past week, joined by two SPACs. Energy services provider Flowco Holdings filed for an estimated $300 million IPO. One IPO - ServiceTitan - is currently scheduled in the week ahead, although smaller issuers may join the calendar throughout the week.
On Tuesday, cloud business software provider ServiceTitan offered a price range for its initial public stock of $52 to $57 a share, with hopes to raise $446.2 million to $514.2 million at the midrange.
The Glendale, Calif.-based company could raise up to $500 million in its initial public offering.
Software startup ServiceTitan said on Tuesday it was seeking a valuation of as much as $5.16 billion in its initial public offering in the United States.
Glen Anderson says "the story is there was no story" for the 2024 IPO market. However, he shares more enthusiasm for 2025 with large cap names anticipated for a 2025 debut.
When ServiceTitan filed documents last week for its IPO, hoping to have its debut before the end of 2024, the tech world wondered if a stuck IPO market was unlocking at last.
When ServiceTitan dropped its S-1 notice of an impending public offering on November 18, many VCs likely rejoiced. A successful IPO by the company, which builds operating software for trade businesses, could be what the quiet IPO market needs to start shaking loose.