Bending Spoons IPO Priced at $29, Opens at $31
Several companies made their market debuts last week, with Bending Spoons, ITG and Neutron Holdings opening for trading across a mix of pricing levels.LATEST IPOS AND DIRECT LISTINGS:Bending Spoonsopened on July 1 at $31.00. The company priced its 57.97M share initial public offering at $29.00, above the $26.00-$28.00 range. Bending Spoons is a digital applications company whose portfolio includes note-taking app Evernote, video platform Vimeo, events marketplace Eventbrite and AOL.ITG, Inc.opened on July 1 at $18. The company priced 19.51M shares at $16.00, below the $19.00-$22.00 range. ITG is a provider of end-to-end services to the communications and digital infrastructure industries.Neutron Holdingsopened on July 1 at $27. The firm priced 6.96M shares at $25.00, in the middle of the deal range of $24.00-$26.00. Neutron Holdings, doing business as Lime, describes itself as "a leading global shared micromobility business" that partners with cities to deploy e-bikes and e-scooters to serve shorter distance trips.RECENT SPAC IPOS:Viking Acquisition Corp. IIopened on July 2 at $10.04. The blank check company's efforts to identify a prospective target business will not be limited to a particular industry or geographic region.Osprey Acquisition IIIopened on July 1 at $10.03. The blank check company may pursue an acquisition opportunity in any business or industry or at any stage of its corporate evolution, but says its primary focus will be to "identify companies that are deploying disruptive technologies and next-generation infrastructure that modernize energy systems, enable AI-driven optimization, and support the resilient, sustainable backbone of global connectivity."PERFORMANCE:Prices as of 10:30 am ET on Monday, July 6 -Bending Spoons – down over 6% at $33.76;ITG, Inc. – down about 6% at $14.60;Neutron Holdings – fractionally down at $24.88.RECENT IPOS TO WATCH:SpaceX, Forbright, ERock, and WhiteHawk Mineralsare already seeing coverage roll out, while Avalanche Treasury Co.is among stocks that could see new coverage this week as the quiet periods for banks that underwrote the companies' IPOs expire.UPCOMING IPOS:Upcoming IPO and direct listings expected include Jersey Mike's Subs, Kardigan, Inspire Brands, and Tarsier Pharma.Clickto see upcoming IPO calendar on TipRanks.Jersey Mike's Subshas filed an initial public offering of shares of Class A common stock. The company has applied to list its shares of Class A common stock on the New York Stock Exchange under the trading symbol "JMKE." Morgan Stanley, Jefferies, and J.P. Morgan are acting as global coordinators and joint bookrunning managers for the offering. Barclays and Guggenheim Securities are acting as co-global coordinators and joint bookrunning managers. BofA Securities, Goldman Sachs, Evercore ISI, UBS Investment Bank, Baird, Wells Fargo Securities, William Blair, RBC Capital Markets, Deutsche Bank Securities, Wolfe Nomura Alliance, Piper Sandler, Raymond James, Stifel, TD Securities, BTIG, Mizuho, Societe Generale, and Truist Securities are acting as joint bookrunning managers. Blackstone Capital Markets, Loop Capital Markets, and Tigress Financial Partners are acting as co-managers.Kardiganhas filed an initial public offering of shares of its common stock. The company has applied to list its common stock on the Nasdaq Global Market under the symbol "KARD." JP Morgan, Jefferies, Leerink Partners, and TD Cowen are acting as the underwriters for the offering.Inspire Brandsannounced that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. Inspire Brands expects to use the net proceeds of the proposed offering to repay outstanding indebtedness under its existing term loan facility and pay offering fees and expenses.Tarsier Pharma Ltd.filed for an initial public offering of its ordinary shares and applied to list its ordinary shares on the NYSE American under the symbol "TARX". The prospectus stated: "Tarsier Pharma is developing TRS01 and TRS02, novel product candidates based on dazdotuftide, a new molecule with a new mechanism of action for uveitis and uveitic glaucoma. We are attempting to address a significant, underserved market opportunity and have engaged closely with the FDA on our clinical development strategy, including a Special Protocol Assessment agreement for our planned pivotal trial... Although we are still early in this journey, I believe we have the technology, the team, the discipline, and the persistence required to build an enduring company."Opening Day" is The Fly's recurring series of stories on the latest initial public offerings, their performance, and upcoming IPOs.
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Three Major IPOs and Four SPACs Priced This Week
- Bending Spoons IPO: Italy-based tech firm Bending Spoons priced above expectations to raise $1.7 billion, achieving a market cap of $19.5 billion, having completed over 50 acquisitions, which is expected to further drive earnings growth and market expansion.
- ITG's Underperformance: Engineering firm ITG raised $312 million below expectations at a $1.9 billion market cap, and despite stable demand for its infrastructure services, its stock fell 3% this week, indicating market concerns about future growth.
- Lime's Market Share: E-scooter rental platform Lime priced at the midpoint to raise $174 million, with an $1.8 billion market cap, serving 19 million users in 2025 and holding a 27% market share, demonstrating its leadership in the shared micromobility market.
- New IPO Filings: Eleven companies submitted IPO filings this week, including Cumberland Farms and Jersey Mike's, each expected to raise $1 billion, reflecting strong demand for emerging businesses and a recovery in investor confidence.
Bending Spoons Closes IPO, Raising Nearly $1 Billion
- Successful IPO: Bending Spoons successfully listed on Nasdaq, issuing 57,971,015 ordinary shares at an IPO price of $29 per share, raising approximately $953.9 million, demonstrating strong market confidence in its business model.
- Shareholder Structure: In this offering, Bending Spoons sold 34,398,640 shares while 23,572,375 shares were sold by other shareholders, indicating success in attracting external investors while providing liquidity for existing shareholders.
- Strong Underwriter Lineup: Goldman Sachs, J.P. Morgan, and Allen & Company acted as joint lead underwriters, ensuring the smooth execution of the fundraising, reflecting market recognition of Bending Spoons' future growth potential.
- Market Performance Expectations: Bending Spoons' ordinary shares began trading on July 1, 2026, on Nasdaq, which is expected to attract more investor attention and further drive the company's expansion and profitability in the digital business sector.
Healthcare Stocks Surge Following CMS Payment Rate Proposal
- Healthcare Stocks Surge: Following the CMS proposal to increase payment rates by 2.4% for hospitals and ambulatory surgical centers, shares of Universal Health Services rose 7% and HCA Healthcare increased by 5%, reflecting market optimism towards the healthcare sector.
- Rivian's Delivery Outlook Raised: Rivian Automotive raised its 2026 delivery outlook from 62,000-67,000 to 65,000-70,000, resulting in an 8% stock price increase, indicating strong market confidence in its future growth potential.
- Blue Owl Capital Redemption Pressure Eases: Blue Owl Capital's stock jumped over 4% as a shareholder letter revealed that redemption requests for its private credit funds decreased to $4.7 billion in Q2 from $5.4 billion in Q1, suggesting improved market confidence in its liquidity.
- National Beverage's Special Cash Dividend: National Beverage Corp. announced a special cash dividend of $3.25 per share, leading to a 13% stock price increase, which not only enhances investor returns but may also attract more attention from potential investors.
Chip Valuation Pullback Drags Tech Stocks Down
- Chip Market Decline: The Philadelphia Semiconductor Index fell by 6.3%, leading Nasdaq futures to drop another 0.5% in early trading, indicating significant pressure on tech stocks due to weakness in the chip sector, which may undermine investor confidence in future growth.
- Asia-Pacific Market Reaction: The South Korean Kospi index dropped over 7% on Thursday, with SK Hynix and Samsung Electronics down 14.5% and 9% respectively, reflecting global market concerns about the semiconductor industry's outlook, potentially impacting earnings expectations for related companies.
- Amazon's Chip Strategy: Amazon is designing its own chips for key consumer devices, which is expected to enhance product competitiveness, particularly in the smart home market, further solidifying its leadership position in the tech sector.
- Bending Spoons IPO Performance: Italian tech company Bending Spoons debuted with an initial valuation of over $18 billion, closing with a 40% increase, demonstrating strong market interest in emerging tech companies and potentially attracting more investors to the sector.
Google Faces €4.1 Billion Antitrust Fine in Europe
- Google Antitrust Case: Alphabet's stock fell 1% after its subsidiary lost a European antitrust case, with a court upholding a €4.1 billion ($4.67 billion) fine stemming from a 2018 European Commission ruling, highlighting regulatory scrutiny on tech giants.
- Bending Spoons IPO Performance: Shares of Italian tech firm Bending Spoons dropped 7% following its public debut on Wednesday, despite a nearly 40% surge on its first day, indicating investor profit-taking and concerns over future performance in a volatile market.
- AeroVironment Contract Win: AeroVironment's stock rose 4% after securing a $500 million contract with the U.S. Army to develop counter-drone capabilities, showcasing strong demand and growth opportunities in the defense sector.
- Robinhood Analyst Upgrade: Robinhood's shares increased in premarket trading, partly due to Mizuho raising its price target to $130, with analysts suggesting the company could become the
Bending Spoons Trades Above IPO Price After Nasdaq Debut
- First Day Trading Performance: Bending Spoons reached a high of $33.14 on its Nasdaq debut, representing a 14.7% increase from its IPO price of $29.00, indicating strong market enthusiasm for its digital brand roll-up strategy.
- Stock Circulation Details: The IPO consists of 57.97 million ordinary shares, with certain selling shareholders offering an additional 23.57 million shares; although the company will not receive proceeds from the secondary sale, this reflects robust demand for its stock.
- Underwriter Option: The company and selling shareholders have granted underwriters a 30-day option to purchase up to an additional 8.70 million shares at the public offering price, enhancing market liquidity and investor confidence.
- Business Model Overview: Founded in 2013, Bending Spoons follows a digital brand roll-up model, reviving underperforming yet well-known software and app businesses through product optimization, subscription monetization, and extensive use of AI and data science, owning brands like Vimeo, WeTransfer, and Evernote.
Three Major IPOs and Four SPACs Priced This Week
- Bending Spoons IPO: Italy-based tech firm Bending Spoons priced above expectations to raise $1.7 billion, achieving a market cap of $19.5 billion, having completed over 50 acquisitions, which is expected to further drive earnings growth and market expansion.
- ITG's Underperformance: Engineering firm ITG raised $312 million below expectations at a $1.9 billion market cap, and despite stable demand for its infrastructure services, its stock fell 3% this week, indicating market concerns about future growth.
- Lime's Market Share: E-scooter rental platform Lime priced at the midpoint to raise $174 million, with an $1.8 billion market cap, serving 19 million users in 2025 and holding a 27% market share, demonstrating its leadership in the shared micromobility market.
- New IPO Filings: Eleven companies submitted IPO filings this week, including Cumberland Farms and Jersey Mike's, each expected to raise $1 billion, reflecting strong demand for emerging businesses and a recovery in investor confidence.
Bending Spoons Closes IPO, Raising Nearly $1 Billion
- Successful IPO: Bending Spoons successfully listed on Nasdaq, issuing 57,971,015 ordinary shares at an IPO price of $29 per share, raising approximately $953.9 million, demonstrating strong market confidence in its business model.
- Shareholder Structure: In this offering, Bending Spoons sold 34,398,640 shares while 23,572,375 shares were sold by other shareholders, indicating success in attracting external investors while providing liquidity for existing shareholders.
- Strong Underwriter Lineup: Goldman Sachs, J.P. Morgan, and Allen & Company acted as joint lead underwriters, ensuring the smooth execution of the fundraising, reflecting market recognition of Bending Spoons' future growth potential.
- Market Performance Expectations: Bending Spoons' ordinary shares began trading on July 1, 2026, on Nasdaq, which is expected to attract more investor attention and further drive the company's expansion and profitability in the digital business sector.
Healthcare Stocks Surge Following CMS Payment Rate Proposal
- Healthcare Stocks Surge: Following the CMS proposal to increase payment rates by 2.4% for hospitals and ambulatory surgical centers, shares of Universal Health Services rose 7% and HCA Healthcare increased by 5%, reflecting market optimism towards the healthcare sector.
- Rivian's Delivery Outlook Raised: Rivian Automotive raised its 2026 delivery outlook from 62,000-67,000 to 65,000-70,000, resulting in an 8% stock price increase, indicating strong market confidence in its future growth potential.
- Blue Owl Capital Redemption Pressure Eases: Blue Owl Capital's stock jumped over 4% as a shareholder letter revealed that redemption requests for its private credit funds decreased to $4.7 billion in Q2 from $5.4 billion in Q1, suggesting improved market confidence in its liquidity.
- National Beverage's Special Cash Dividend: National Beverage Corp. announced a special cash dividend of $3.25 per share, leading to a 13% stock price increase, which not only enhances investor returns but may also attract more attention from potential investors.
Chip Valuation Pullback Drags Tech Stocks Down
- Chip Market Decline: The Philadelphia Semiconductor Index fell by 6.3%, leading Nasdaq futures to drop another 0.5% in early trading, indicating significant pressure on tech stocks due to weakness in the chip sector, which may undermine investor confidence in future growth.
- Asia-Pacific Market Reaction: The South Korean Kospi index dropped over 7% on Thursday, with SK Hynix and Samsung Electronics down 14.5% and 9% respectively, reflecting global market concerns about the semiconductor industry's outlook, potentially impacting earnings expectations for related companies.
- Amazon's Chip Strategy: Amazon is designing its own chips for key consumer devices, which is expected to enhance product competitiveness, particularly in the smart home market, further solidifying its leadership position in the tech sector.
- Bending Spoons IPO Performance: Italian tech company Bending Spoons debuted with an initial valuation of over $18 billion, closing with a 40% increase, demonstrating strong market interest in emerging tech companies and potentially attracting more investors to the sector.
Google Faces €4.1 Billion Antitrust Fine in Europe
- Google Antitrust Case: Alphabet's stock fell 1% after its subsidiary lost a European antitrust case, with a court upholding a €4.1 billion ($4.67 billion) fine stemming from a 2018 European Commission ruling, highlighting regulatory scrutiny on tech giants.
- Bending Spoons IPO Performance: Shares of Italian tech firm Bending Spoons dropped 7% following its public debut on Wednesday, despite a nearly 40% surge on its first day, indicating investor profit-taking and concerns over future performance in a volatile market.
- AeroVironment Contract Win: AeroVironment's stock rose 4% after securing a $500 million contract with the U.S. Army to develop counter-drone capabilities, showcasing strong demand and growth opportunities in the defense sector.
- Robinhood Analyst Upgrade: Robinhood's shares increased in premarket trading, partly due to Mizuho raising its price target to $130, with analysts suggesting the company could become the
Bending Spoons Trades Above IPO Price After Nasdaq Debut
- First Day Trading Performance: Bending Spoons reached a high of $33.14 on its Nasdaq debut, representing a 14.7% increase from its IPO price of $29.00, indicating strong market enthusiasm for its digital brand roll-up strategy.
- Stock Circulation Details: The IPO consists of 57.97 million ordinary shares, with certain selling shareholders offering an additional 23.57 million shares; although the company will not receive proceeds from the secondary sale, this reflects robust demand for its stock.
- Underwriter Option: The company and selling shareholders have granted underwriters a 30-day option to purchase up to an additional 8.70 million shares at the public offering price, enhancing market liquidity and investor confidence.
- Business Model Overview: Founded in 2013, Bending Spoons follows a digital brand roll-up model, reviving underperforming yet well-known software and app businesses through product optimization, subscription monetization, and extensive use of AI and data science, owning brands like Vimeo, WeTransfer, and Evernote.
