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Donnelley Financial Solutions US IPO Report - December 2020 Edition Congratulations to the 74 December issuers and their advisors on the ~$159 Billion "2020 - an unforgettable year for IPOs! successful completion of their IPO. As I look back on all the successes we Total Raised in 2020 DFIN was proud to have serviced shared with our clients - perseverance, AbCellera Biologics, Altitude hard work, compassion, and great Acquisition, BioAtla, CBRE partnerships led us to successfully Acquisition, 17 Education & 2020 Priced (count) complete 197 IPOs during a year with Technology Group, 4D Molecular 100 so many challenges. An incredibly Therapeutics, Wish, DoorDash, active pipeline, robust valuations, Far Peak Acquisition, Golden vaccine deployment and newfound Falcon Acquisition, Gores hope brings much optimism for 2021." Holding VI, Marquee Raine CRAIG CLAY, PRESIDENT, DONNELLEY FINANCIAL SOLUTIONS 0 Acquisition, Periphas Capital JAN FEB MAR APR MAY JUNE JULY AUG SEP OCT NOV DE… Partnering, Pharming Group NV, Silverback Therapeutics, Thayer 91 League Table *Top 25 Ventures Acquisition, Upstart Issuer's Counsel Count Holdings, and the largest offering IPOs publicly filed in December Ellenoff Grossman 48 this year Airbnb! bringing total count for 2020 to 621. In Kirkland & Ellis 41 2019, there were 293 total filings and Skadden Arps 38 Latham & Watkins LLP 33 296 in 2018. 156 of 2020 filings are Cooley LLP 30 December Priced (count) pending pricing. Goodwin Procter 27 2017 (15) White & Case 23 Davis Polk 19 Sector Breakdown (non-SPACs) 2018 (17) Loeb & Loeb 16 Wilson Sonsini 16 49.8% Healthcare 2019 (13) Winston & Strawn 15 24.08% Technology Ropes & Gray 14 2020 (74) Weil Gotshal 14 11.42% Consumer 2020 Priced Simpson Thacher 11 7.35% Industrial Graubard Miller 9 Greenberg Traurig 9 7.35% Financial 50% of the priced IPOs in 2020 were Paul Weiss 7 SPACs with a total count for the year Sheppard Mullin 7 WilmerHale 7 248 with a total valuation of ~$76 Healthcare Fenwick & West 6 billion. There are an additional 80 Gibson Dunn 5 13 offerings in December brings the Ledgewood 5 SPACs pending pricing. 39 2020 priced total for the record breaking year Vinson & Elkins 5 SPACs have already announced their to 122 healthcare offerings raising Cleary Gottlieb 4 business combination. Debevoise & Plimpton 3 ~$25 billion. 2020 Priced IPO Counts 493 65 248 3 154 4 Total Issuers Foreign Issuers SPACs Direct Listings ≥$100M (non-SPAC) REITs December Issuers Technology (8) Date Issuer Issuer Counsel Underwriters Price/Share Value 12/9/20 Airbnb Latham & Watkins LLP Morgan Stanley, Goldman Sachs, Allen & $68 $3,490M San Francisco, CA-based platform for booking Company, BofA Securities, Barclays, Citi, short-term stays from a global network of BNP Paribas, Mizuho Securities, Credit locals Suisse, Deutsche Bank, Jefferies, Wells Fargo Securities 12/9/20 DoorDash Wilson Sonsini Goodrich & Rosati Goldman Sachs, JP Morgan, Barclays, $102 $3,366M San Francisco, CA-based online restaurant Deutsche Bank, RBC Capital Markets, delivery service UBS Investment Bank 12/16/20 Wish (Context Logic) Gunderson Dettmer Goldman Sachs, JP Morgan, BofA $24 $1,104M San Francisco, CA-based e-commerce platform Securities, Citi, Deutsche Bank, UBS for ultra-bargain unbranded merchandise Investment Bank, RBC Capital Markets, Credit Suisse 12/11/20 Certara Simpson Thacher Jefferies, Morgan Stanley, BofA $23 $668M Princeton, NJ-based provides biosimulation Securities, Credit Suisse, Barclays, software and services used for drug William Blair development 12/09/20 C3.AI Cooley LLP Morgan Stanley, JP Morgan, BofA $42 $651M Redwood City, CA-based SaaS platform for Securities, Deutsche Bank deploying enterprise AI applications 12/16/20 Upstart Holdings Wilson Sonsini Goodrich & Rosati Goldman Sachs, BofA Securities, Citi, $20 $240M San Mateo, CA-based operates an online Jefferies, Barclays, JMP Securities, consumer lending platform connecting banks Blaylock Van and individuals 12/09/20 PubMatic Fenwick & West Jefferies, RBC Capital Markets, JMP $20 $118M Redwood City, CA-based platform that Securities, KeyBanc Capital Markets, automates digital ad sales for online Oppenheimer & Co., Raymond James publishers 12/07/20 Ondas Akerman LLP Oppenheimer & Co, National Securities, $6 $30M Sunnyvale, CA-based software-defined radio Northland Securities, Spartan Securities system to create private broadband networks Consumer (4) Date Issuer Issuer Counsel Underwriters Price/Share Value 12/4/20 17 Education & Technology Group Skadden Arps Goldman Sachs (Asia), Morgan Stanley, $10.50 $288M Beijing, China-based provides online K-12 BofA Securities, China Renaissance, tutoring services Tiger Brokers 12/15/20 Wunong Net Technology Sichenzia Ross Boustead Securities, Brilliant Norton $5 $30M Shenzhen, China-based online food retail store Securities and franchise restaurants 12/15/20 Oriental Culture Holding Foster Garvey ViewTrade, Prime Number Capital $4 $20M Nanjing, China-based online marketplace for artists and collectors 12/29/20 Medirom Healthcare Technologies Greenberg Traurig LLP Maxim Group LLC $15 $12M Tokyo, Japan-based operator of relaxation salons developing a digital health service Financial (1) Date Issuer Issuer Counsel Underwriters Price/Share Value 12/17/20 Midwest Holding Jones & Keller PC Piper Sandler, JMP Securities $70 $70M Lincoln, NE-based underwrites and markets annuities in the US Healthcare (13) Date Issuer Issuer Counsel Underwriters Price/Share Value 12/11/20 AbCellera Biologics Goodwin Procter LLP Credit Suisse, Stifel, Berenberg, SVB $20 $483M Vancouver, Canada-based AI powered drug Leerink, BMO Capital Markets discovery platform for antibody therapies 12/4/20 Silverback Therapeutics Cooley LLP Goldman Sachs, SVB Leerink, Stifel, $21 $242M Seattle, WA-based phase 1 biotech developing HC Wainwright TLR8 agonist-antibodies for HER2/3 solid tumors 12/3/20 Kinnate Biopharma Wilson Sonsini Goodrich & Rosati Goldman Sachs, SVB Leerink, Piper $20 $240M San Diego, CA-based preclinical biotech Sandler, Wedbush PacGrow developing targeted kinase inhibitors for difficult-to-treat cancers 12/11/20 4D Molecular Therapeutics Latham & Watkins LLP Goldman Sachs, BofA Securities, $23 $193M Emeryville, CA-based Phase 1/2 gene therapy Evercore ISI biotech developing novel AAVs for ophthalmic diseases 12/16/20 BioAtla Dechert JP Morgan, Jefferies, Credit Suisse, $18 $189M San Diego, CA-based Phase 2 biotech BTIG developing selective antibody therapies for solid tumors 12/4/20 Seer Biosciences Wilson Sonsini Goodrich & Rosati JP Morgan, Morgan Stanley, BofA $19 $175M Redwood City, CA-based developer of next- Securities, Cowen generation proteome analysis tests for biomedical research 12/18/20 908 Devices Goodwin Procter LLP Cowen, SVB Leerink, William Blair, $20 $130M Boston, MA-based provider of mass Stifel spectrometry devices for forensic and scientific research 12/4/20 Sigilon Therapeutics Ropes & Gray Morgan Stanley, Jefferies, Barclays, $18 $126M Cambridge, MA-based phase 1/2 biotech Canaccord Genuity developing allogeneic therapies for hemophilia A and diabetes 12/11/20 Nanobiotix Jones Day Jefferies, Evercore ISI, UBS $13.50 $99M Paris, France-based late-stage developer of Investment Bank, Gilbert Dupont nanoparticle drugs that improve cancer Société de bourse radiotherapy 12/17/20 Virios Therapeutics Duane Morris ThinkEquity $10 $30M Alpharetta, GA-based phase 2 biotech developing novel antiviral therapies for fibromyalgia and other diseases 12/23/20 GBS Graubard Miller Dawson James $17 $22M New York, NY-based saliva-based tests for SARS-CoV-2 and diabetes management in China 12/11/20 Vivos Therapeutics Ellenoff Grossman & Schole LLP Roth Capital Partners, Craig-Hallum $6 $21M Highlands Ranch, CO-based commercializing Capital Group, National Securities non-invasive medical devices for sleep disordered breathing 12/23/20 Pharming Group N.V. Cooley LLP $17.86 $16M Leiden, Netherlands-based focuses on the development and production of human therapeutic proteins Industrial (1) Date Issuer Issuer Counsel Underwriters Price/Share Value 12/10/20 Hydrofarm Holdings Group Mintz Levin JP Morgan, Stifel, Deutsche Bank, Truist $20 $173M Petaluma, CA-based sells hydroponics and Securities, William Blair specialty indoor gardening supplies SPACs (47) Date Issuer Location Sponsor Sector Interest Issuer Counsel Underwriters Price/Share Value 12/3/20 Far Peak Acquisition NY Tom Farley FinTech Morgan Lewis Wells Fargo $10 $550M 12/17/20 ScION Tech Growth I GBR ION Investment Group Technology White & Case UBS Investment Bank, $10 $500M Limited Citi 12/23/20 CF Acquisition Corp IV NY Cantor Fitzgerald General Ellenoff Grossman & Cantor Fitzgerald $10 $450M Schole LLP 12/16/20 Churchill Capital Corp V NY Michael Klein General Paul Weiss Citi, Goldman Sachs, $10 $450M JP Morgan, BofA Securities, B Riley FBR 12/11/20 Motive Capital Corp NY Motive Partners FinTech Kirkland & Ellis UBS Investment Bank, $10 $360M JP Morgan 12/10/20 Periphas Capital NY Periphas Capital General Kirkland & Ellis Evercore ISI $10 $360M Partnering Corporation 12/11/20 Senior Connect AZ Richard Burke Senior Market White & Case Citi $10 $360M Acquisition Corp. I 12/10/20 Carney Technology CA Lloyd Carney Technology Ellenoff Grossman & Morgan Stanley $10 $350M Acquisition Corp II Schole LLP 12/11/20 CBRE Acquisition Holdings TX CBRE Growth Simpson Thacher Morgan Stanley, $10 $350M Companies Cantor Fitzgerald, Mizuho Securities 12/17/20 Corner Growth Acquisition CA Corner Ventures Technology Kirkland & Ellis Cantor Fitzgerald
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