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

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.

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Kevin Love withdraws from U.S. men's Olympic basketball team

NBA star Kevin Love has withdrawn from the U.S. men's Olympic basketball team, saying he's not at his "absolute peak performance" following a calf injury, ESPN reported Friday.

Why it matters: It's the latest blow to USA Basketball, which announced Thursday that Bradley Beal will miss the Tokyo Games after being placed under coronavirus health and safety protocols.

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Affirmative action on college campuses is endangered

Data: National Center for Education Statistics; Chart: Connor Rothschild/Axios

Affirmative action, which for 60 years has increased the number of students of color at American universities, is on the chopping block. A case accusing Harvard of discriminating against Asian applicants has made it to the Supreme Court, and the court could elect to get rid of the 60-year-old policy.

Why it matters: While that's an unlikely outcome, it could push colleges to come up with better ways of promoting diversity on campus rather than just looking at race, says Mitchell Chang, an education professor at UCLA.

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