American Healthcare REIT Inc. has filed for an initial public offering of common stock, but the terms of the IPO have not yet been determined. The California-based real estate investment trust focused on health care properties said it expects the stock to list on the New York Stock Exchange (NYSE) under the ticker symbol "AHR." BofA Securities, Citigroup and KeyBanc Capital Markets are the joint book-running managers. For the six months ended June 30, the company reported a net loss of $17.1 million on revenue of $764.4 million, after a loss of $24.1 million on revenue of $599.4 million in the same period a year ago. The company is looking to go public as investor interest in recently IPO''s stock has picked up recently, but has lagged the broader market by a wide margin this year. The Renaissance IPO ETF has run up 12.9% over the past three months but has tumbled 46.3% year to date, while the S&P 500 has gained 5.4% the past three months while losing 18.9% this year. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move.
The U.S. initial public offering market is bracing for what''s expected to be the biggest deal of the year so far, that of the spin-off of AIG''s life insurance unit Corebridge Financial , which is aiming to raise $1.8 billion. "At the expected deal size it''ll represent over a quarter of all 2022 IPO proceeds," said Bill Smith, co-Founder and CEO of Renaissance Capital, a provider of institutional research and IPO exchange traded funds, in commentary. "J.P. Morgan is lead left, but there are 43 banks on the cover - the most in over a decade by our count." There are two other deals on tap, biotech Third Harmonic Bio, which is planning to raise up to $162 million, and Linkbancorp Inc. which operates Pennsylvania-based The Gratz Bank, and is aiming to raise up to $43 million. The Renaissance IPO ETF as fallen 42% in the year to date, while the S&P 500 has fallen 15%. b90p` Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Investors looking for new stocks to buy have limited options this year, with the U.S. markets on track for their slowest year of initial public offerings since 2009 . What’s more, the Renaissance IPO ETF (NYSEARCA: IPO ) is down 38% year to date, significantly more than the broader market. But, as anyone investing in recently debuted stocks knows, this is a high-risk, high-reward game. Sometimes it’s better to wait for the hype to die down a bit and the froth to come off the shares. Let the company get a few earnings reports behind it so you can get a clearer picture of its execution and growth prospects. With that in mind, I have three new stocks to buy, “new” being a relative term. Each has made its public debut in the past three years (and change). All of these stocks are down significantly over the past year but could deliver outsized gains in 2023 if we see a turnaround in the market. OPEN Opendoor Technologies $6.32 BYND Beyond Meat $36.59 KIND Nextdoor $3.08 Opendoor Technologies (OPEN) Source: Tada Images / Shutterstock.com Opendoor Technologies (NASDAQ: OPEN ), which went public in December 2020, is a great investment for anyone interested in the tech sector.
JustWorks Inc. filed Wednesday to withdraw its plans for an initial public offering, about seven months after the profitable human resources software company filed to go public and six months after setting IPO terms. The withdrawal comes at a time of relative investor disdain for IPO shares, as the Renaissance IPO ETF has plunged 47.0% year to date through morning trading Wednesday, while the S&P 500 has shed 20.8%. The company filed an S-1 to go public in mid-December, with heavyweights Goldman Sachs, J.P. Morgan and BofA Securities as the lead underwriters. Then on Jan. 4, JustWorks said it expected to raise up to $224.0 million as the 7 million-share IPO was expected to be priced between $29 and $32 a share to value the company at up to $2.0 billion. But in the latest amended-S-1 filing on June 27, JustWorks had removed the expected number of shares it would offer and the expected pricing of the IPO. JustWorks was profitable, as it had net income of $10.9 million on revenue of $982.