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Krispy Kreme among 17 companies set to IPO in the U.S. this week

28 June 2021
 Dan Ackermann

The IPO market is lighting its fireworks a bit early, with a whopping 17 companies planning to list this week on U.S. exchanges.

Driving the news: Chinese ride-hail company Didi is expected to be the week's top float, with plans to raise nearly $4 billion.

  • Other big issuers should be cybersecurity company SentinelOne, Turkish e-commerce platform D-Market and doughnut chain Krispy Kreme.
  • Many of this week's companies began prepping their IPOs late last fall.

By the numbers: This would be the third time in 2021 that U.S. markets saw 17 IPOs, following weeks in February and March, per Renaissance Capital. Before that, however, it hadn't happened since December 2006.

  • Q2 2021 is expected to go down as the busiest quarter for U.S. IPOs since 2000, while June 2021 will be the busiest month since that same year.
  • Renaissance Capital's Matthew Kennedy emails: "We're all drowning in work! Buy-side, sell-side, lawyers & advisors ... I know the virtual roadshows of some sizable deals are sparsely attended since fund analysts have only so much time. And we've definitely noticed an uptick in prospectus typos."

Part of this week's boom is about getting out before the July 4 holiday. Another part is companies trying to price before quarter-end, so they needn't provide another set of financials.

  • But a top Wall Street banker tells me not to expect a July lull, with dozens of companies expecting to price. He adds that we should see a slew of new IPO filings over the next week or two.

The bottom line: The IPO window isn't just open. The glass has been smashed and the framing has been removed.

Transcripts show George Floyd told police "I can't breathe" over 20 times

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Newly released transcripts of bodycam footage from the Minneapolis Police Department show that George Floyd told officers he could not breathe more than 20 times in the moments leading up to his death.

Why it matters: Floyd's killing sparked a national wave of Black Lives Matter protests and an ongoing reckoning over systemic racism in the United States. The transcripts "offer one the most thorough and dramatic accounts" before Floyd's death, The New York Times writes.

The state of play: The transcripts were released as former officer Thomas Lane seeks to have the charges that he aided in Floyd's death thrown out in court, per the Times. He is one of four officers who have been charged.

  • The filings also include a 60-page transcript of an interview with Lane. He said he "felt maybe that something was going on" when asked if he believed that Floyd was having a medical emergency at the time.

What the transcripts say:

  • Floyd told the officers he was claustrophobic as they tried to get him into the squad car.
  • The transcripts also show Floyd saying, "Momma, I love you. Tell my kids I love them. I'm dead."
  • Former officer Derek Chauvin, who had his knee on Floyd's neck for over eight minutes, told Floyd, "Then stop talking, stop yelling, it takes a heck of a lot of oxygen to talk."

Read the transcripts via DocumentCloud.