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Friday, April 16, 2021

Plano energy company files for IPO

Vine Energy, a Plano-based energy company, backed by the Blackstone Group, plans to raise over $300 million by offering 18.8 million shares, prices $16 yo $19 each. The IPO is managed by Citi/Credit Suisse. The proposed NYSE symbol VEI. Vine Energy has approximately 125,000 net surface acres in Louisiana’s Haynesville Basin.

Citigroup, Credit Suisse, Morgan Stanley, Barclays, BofA Securities and RBC Capital Markets are acting as joint book-running managers for the proposed offering.

Other IPOs this week include:

Duckhorn Portfolio (The) – 20 million shares, priced $14-$16, managed by JP Morgan/Credit Suisse. Proposed NYSE symbol NAPA. Business: Produces and distributes luxury wine in North America.

Gain Therapeutics – Bethesda, Md., 3.6 million shares, priced $10-$12, managed by BTIG/Oppenheimer & Co. Proposed Nasdaq symbol GANX. Business: Preclinical biotech developing small molecule therapies for lysosomal storage.

Jowell Global – Shanghai, China, 3.7 million shares, priced at $7, managed by Network 1 Financial Securities. Proposed Nasdaq symbol JWEL. Business: Operates an e-commerce platform for cosmetics and health products in China.

Movano – Pleasanton, Calif., 7.2 million shares, priced at $5, managed by National Securities. Proposed Nasdaq symbol MOVE. Business: Developing a wearable device that measures glucose, blood pressure and heart rate.

Olo Inc.- New York, 18 million shares, priced $16-$18, managed by Goldman Sachs/JP Morgan. Proposed NYSE symbol OLO. Business: Provides a SaaS platform to restaurants for online ordering and delivery.

Sun Country Airlines Holdings – Minneapolis, 9.1 million shares, priced $21-$23, managed by Barclays/Morgan Stanley. Business: American low-cost passenger and cargo airline.

Universe Pharmaceuticals – Jiangxi, China, 5 million shares, priced $5-$7, managed by Univest Securities. Proposed Nasdaq symbol UPC. Business: Chinese pharmaceutical specializing in traditional Chinese medicine derivatives.

Sources include IPO ETF manager Renaissance Capital, and SEC filings.

Associated Press contributed to this report.

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