Texas IT Firm SolarWinds Completes $375 Million IPO

Per the New York Stock Exchange website, seven firms priced their IPOs last week, raising a combined $1.08 billion in capital. Four of the newly public firms are healthcare-focused companies, and they raised a total of $287 million. The largest IPO was the lone IT firm, SolarWinds, which raised $375 million. 

• Si-Bone (NAS: SIBN), a producer of a back joint fusion implant, debuted on the Nasdaq stock exchange, raising $124 million. Si-Bone’s implant product is a titanium fixation system for the sacroiliac joint that uses its patented iFuseTM implant technology.

• Chinese electronic scooter maker Niu Technologies (NAS: NIU) began trading on the Nasdaq exchange last week, raising $63 million dollars. Niu designs, manufactures, and sells high-performance smart e-scooters, having sold 431,500 scooters to markets around the globe as of June 30th.

• Solar Winds (NYS: SWI), a Texas IT management software provider, raised $375 million in its IPO last week. The company provides a suite of IT products and services, including cybersecurity, database management, and network traffic management. This is the company’s second IPO – in 2016, it was taken private by Silver Lake Partners and Thoma Bravo.

• Raising $70 million dollars, biotechnology firm LogicBio Therapeutics (NAS: LOGC) debuted on the Nasdaq stock exchange last week. LogicBio is a genome editing company, leveraging technology to develop medicines that harness a natural DNA repair process for pediatric patients facing rare and severe diseases.

• Canadian cannabis producer Aurora Cannabis is set to begin trading on the NYSE Tuesday under the ticker ‘ACB.’ The firm currently trades on the Toronto Stock Exchange and has seen its market capitalization rise a dramatic 150% since the start of August. Recently, there has been a rush of capital invested into the medical and recreational marijuana industries thanks in part to Canada’s recreational legalization of the drug, as well as Constellation Brands’ $4 billion investment into medical marijuana marketer Canopy Growth.