LifeStance, Monday.com, 1stdibs.com Climb in U.S. Trading Debuts
(Bloomberg) -- LifeStance Health Group Inc., a mental health care provider with more than 370 locations in the U.S., rose 22% in its trading debut after raising $720 million in its initial public offering.
Shares of TPG-backed LifeStance, which sold for $18 in the IP0, closed Thursday at $21.90, giving the company a market value of almost $8.2 billion.
Tel Aviv-based software maker Monday.com Ltd. also rose in its U.S. debut after raising $574 million in its IPO. Its shares closed up 15% to $178.87, ending the day with a market value of $7.8 billion.
1stdibs.com Inc., an ecommerce company specializing in high-end furniture and fashion, had the biggest first-day gain of the three. After raising $115 million in its IPO, its shares rose more than 42%.
“It’s still very early days in the migration of the luxury market from offline to online,” 1stdibs.com Chief Executive Officer David Rosenblatt said in an interview. “The long-term vision is to continue to grow as the preeminent marketplace for luxury design.”
Of the four largest companies making their debuts on U.S. exchanges Thursday, only software maker Zeta Global Holdings Corp. lost ground, with its shares falling 11%.
©2021 Bloomberg L.P.