The initial public offering market, fresh off its biggest transaction of the year, is expected to welcome five deals this week, including two venture capital-backed companies that will be the first tech unicorns in nearly two years.
Read now: Instacart IPO: 5 things to know about the app that’s looking to ride a ‘massive digital transformation’ in grocery shopping Klaviyo revised the terms of its IPO early Monday, with plans to offer 19.2 million shares it hopes will price between $27 and 29 each, up from a prior range of $25 to $27, potentially raising up to $556.8 million at a valuation of $7.3 billion.The stock is expected to be listed on the New York Stock Exchange under the ticker symbol “KVYO.” Goldman Sachs, Morgan Stanley and Citigroup are the lead underwriters.
On Monday, Arm’s stock fell 7.6% after Bernstein, which was not involved with its IPO, weighed in with a bearish rating of underperform.