That’S been pumping out double digits of companies going public over the last couple of weeks. Today, we’ll still talk about the big ipo news of the week, but we’ll mix up the format. A little as i’ll share some information about a new cannabis wreath coming to the market. This week, news of a big international company that just filed for a us ipo an update on roblox ipo or, more accurately, at roblox direct listing, the expiration of locked up shares for palantir stock and other companies and then we’ll talk about the most rumored spack merger Of the year so far, cciv and lucid motors stay tuned, Music. Welcome to the healthy, wealthy and wise channel in our weekly show ipo. This week we talk all things on companies going public. As always, i want to thank everyone in the community that comes back each and every week to talk ipos with me and for those of you here. For the first time, my name is kevin and if you’re into staying on top of all the companies hitting the market, this channel might just be what you’re looking for so definitely consider subscribing, and turning on that notification bell that way, you won’t miss any videos as Soon as they come out all right, so let’s start with a quick piece of news from roblox. As many of you know, we’ve been talking about this company for a while. First, we expected a roblox ipo right before christmas, but they decided to postpone and reevaluate their plans after watching the insanity of the airbnb and doordash ipo pricing versus where a trading, so we waited.
But then we got some really interesting news when roblox made the decision to switch from a traditional ipo to direct listing and a roblox direct listing was really well received by the community, and the guidance was that the company would hold the direct listing in february. So as we were getting ready for that, then the sec comes along with some questions on their accounting, particularly for their robux, which is roblox’s currency. On the platform that users can use to enhance their experiences on their avatar. The questions were about how they recognize revenue from it, and while this didn’t seem like a major roadblock, it did leave us waiting some more well late. Last week, roblox released an updated and amended s1 filing, and at this point in time things seem to be back on track from the filing roblox is now stating that they expect the direct listing to occur sometime in march. As you can see from the screenshot, we don’t have a date, but barring anything else happening it looks like next month is when we can expect roblox stock to finally be available as we get closer, and i become more confident that there won’t be any further delays. I will put out a dedicated video on the company with all the important information that can help you decide on. If investing in the company makes sense for you moving on let’s talk about a cannabis real estate company looking to hit the market this week, the company’s name is afc gamma and they are a new commercial, real estate finance company, just founded this past july.
According to their filing, the company originates structures, underwrites and manages senior secured loans and other types of loans for established companies operating the cannabis industry in states that have legalized medicinal and or adult use cannabis. They contend that states continue to legalize cannabis, for medical and adult use. Companies operating the cannabis industry will need financing. They feel that, because these companies, don’t typically have access to traditional bank financing and face limitations on accessing equity markets, afc gamma believes that they are well positioned to become a strong financing option. As i mentioned, they are new, so data is limited, but to share some details with you from july 31st, through september 30th of last year, the company reported net income of about 2.11 million dollars. Additionally, they stated that, as of december 26, they had originated and funded loans, totaling approximately 135 million dollars in aggregate original principal amount to companies operating the cannabis industry, had approximately 92.5 million dollars about loans outstanding and are committed to approximately 19.8 million dollars in additional loans, And commitments from existing loans, with approximately 485.2 million dollars of potential loans actively under review in their pipeline right now, they are in the process of qualifying to be classified as a real estate, investment, trust or more commonly referred to as a reit, with a classification as A reit they do intend to make quarterly distributions of their stockholders. As for the details on the afc gamma ipo i’ve put up a screenshot from nasdaq.
com, showing that the company plans to raise 119 million dollars at a 240 million dollar market cap with pricing of shares. Coming in at 19, the shares will train under the ticker afcg, but as to when i don’t have a confirmed date right now. If i get it or when i get it, i’ll try to remember to update you in the comments. If one of you have a confirmed date, definitely feel free to add it. After all, we’re a team here, okay let’s, go to a big international ipo filing that just came out. Last friday, south korean ecommerce giant kupang made their ipo file in public. Now a coupeing ipo was a big deal. Kupang was ranked number two on cnbc’s top disruptor list in 2020 and had massive revenue growth last year over 90 from 2019 coming in at just under 12 billion dollars last year, so yeah another e commerce company that thrived on the pandemic. Many people think of this company as the amazon of south korea in fyi. According to euromonitor, south korea’s e commerce market is projected to be the third largest in the world in 2021, behind only china and the u.s yeah. This is going to be a big one. Kupang has attracted a lot of positive feedback from the fact that almost 100 percent of its deliveries are completed by the next day of the order, with many being delivered the same day now. Obviously, the logistics in the us aren’t the same but i’m sure that’s.
What amazon would love to be able to advertise, and then kupang also has korea’s top food delivery service named kupang eats as part of his portfolio of services. The company’s been around since 2010, and in 2015 started to be backed by softbank. It also counts blackrock. As another big time investor in the company, how much this company really looks to raise is unknown. But you can be sure that they are looking to raise a lot because, typically in a filing, a company will put a placeholder of about 100 million dollars and revise upwards and amended filings coupe. Well, their placeholder number is one billion dollars, so i feel pretty confident. It’S gon na be more than that, probably at least double while we don’t exactly know when a coupeng ipo will occur. The fact that their filing is now out indicates it’ll be out sooner than later, almost definitely within the next couple of months or by sometime in the second quarter right now, there’s no pricing, which is typical for the initial version of the filing. Now, when revisions come out, we’ll get a better idea of what the company is looking to raise and how they could be valued. As far as valuation goes, it had a valuation of 9 billion in 2018, and estimates are that that number could be more than tripled at their ipo up to even close to 50 billion dollars. A coupeng ipo is one that i’ll be watching and covering here on the channel, so stay tuned for more.
The last thing i’ll leave you with for now in the company, is that when kooping stock is offered, it plans to be listed on the new york stock exchange under the ticker cpng. Moving on to a favorite of the community, let’s talk a little palantir. It seems like we’ve, been talking about them forever here on the channel going back to over a month before they started trading with our direct listing, as i shared in a previous video a couple of weeks ago, i think the company will hold their fiscal year – 2020. Earnings conference call on the morning of february 16th i’m thinking about putting out a video after that call to talk about what was in the earnings and any other information or thoughts on it if that’s something you’d like me to do. Let me know in the comments now my earnings reports are always important if you’ve been watching me on this channel for a while. You know this. One for palantir stock is really important because it’s going to be followed up with the release of their locked up shares and that time has always been dictated by when the 2020 earnings were going to be reported. Now i know some of you are wondering why palantir has locked up shares in the first place because they went with a direct listing and not a traditional ipo it’s. A good question because palantir didn’t have to do that, but they did and based on their filing about 80 of their total shares have been sitting on the sidelines.
The question we’ve been asking for a while is what will happen when this big supply of shares hit? The market well we’re, going to find out soon because, based on the guidance of the filing, which you can see on your screen, the expiration of the palantir lockup agreements is the start of the third trading day. Following the date of public disclosure, of the financial results. For the year ending december 31st, 2020 and as i said before, that’s the 16., so looking at the calendar that date comes out to be friday february 19th. I have to say, because i always like to verify everything. I report it’s been strange that when i’ve done searches looking to confirm this exact date, even up to this recording i’m, not seeing it anywhere at least not where you can look it up for free, just a little odd anyways, i’ve shared with you in previous videos. My thoughts on what locked up shares can possibly mean to the stock price once they hit the markets and i’ve shared with you. Examples of what’s happened with other popular companies when their shares became freely available, so i’m, not going to repeat it here, but if you haven’t seen those videos, i will link a playlist of my palantir videos in the description, so you can check them out now. I can’t and won’t predict what will happen, but the expirations are definitely something you want to watch as we head into them.
Obviously, palantir stock is down pretty significantly from an intraday high of 45 a few weeks ago, and often a stock from a company will trade lower going into the expiration date. So this could be an example of that again, it’s, something we want to watch closely and another big part of whether that very popular pltr stock sells off or potentially leads to more buying is what comes out of the earnings report. I’Ll be keeping an eye on this one for sure. As far as some other companies, with lock up agreements expiring this week, we have harmony biosciences and in hybris expiring, on the 15th and then on the 17th. We have chimera therapeutics in nox, imaging alright moving on again let’s finish up. This week’s episode talking a little bit about where we’re, at with churchill, capital, spax, cciv and lucid motors now spack. Mergers have been tough for me to cover, because i like talking about facts and with spax you’re, really at the mercy of rumors and there’s, a lot out there and it’s hard to know what’s, legitimate and what’s. Not. But because many of you have asked me about this potential merger with cciv and lucid motors in the comments and on the last live stream, i thought let’s take a look at if these rumors have any teeth behind them and what the latest one possibly suggests. They always say where there’s smoke there’s fire right. If you haven’t been following the story, the excitement behind the potential merger is because of the excitement for lucid motors.
Lucid motors is in the evs, and evs and specs have gone together like peanut butter and jelly. Some recent ones include nikola, visker, lordstown motors and canoe in almost every case of an ev spac, at least everyone. I can remember from last year there was a ton of interest. A particular interest in lucid is that the company’s further along in its development, compared to some of the others, and it probably doesn’t – hurt that lucid motors ceo is a former tesla engineer who, just so happens, to have the model s on his resume right now. Lucid’S focus is on bringing a luxury ev sedan named the lucid air to the market, that car will have three versions and when considering federal tax credits, pricing in the us will range from sixty nine thousand nine hundred dollars up to one hundred sixty nine thousand dollars. The top model was reported to offer 1080 horsepower in a range of 517 miles with a luxurious interior and not to start sounding like a salesman going on about the features the car can be fast, charged getting up to 300 miles of range in about 20 minutes. Right now, the lucid air is expected to be released in the us in the spring, with the company building the ev in its arizona factory. That is now operational at 34 000 vehicle capacity, where it could eventually manufacture 400 000 vehicles per year. All right so digging into the potential merger with cciv, which is the ticker for the churchill capital corp force back.
The first publicly reported rumor came out on january 11, when bloomberg reported. That lucid was in talks with churchill that led to the shares trading up about 30 to 40 percent, and at that time it was still in the 13 range as close now as of this weekend, it was just under 40 dollars, so the momentum of this potential Deal continues to be positive now. The biggest concern with investors is the fact that this news of a potential merger has gone on over a month without the deal being finalized and announced now, obviously lucid, isn’t commenting on the spec rumors, but the ceo in an interview on february 15th reportedly did not Them out of them either which of course, didn’t hurt cciv stock. Now the latest news that seemed to lead to another big jump last friday was based on rumors again i’ll, say rumors, because i don’t have anything solid to report that i’ve seen. But those rumors have been published in some online outlets and are suggesting that one of the early investors of the company, then rock associates, is negotiating to sell its stake to church hill capital. Now this rumor suggests that, while it’s been more than a month since the report of a possible merger there’s possible evidence that the deal is still on track to happen, that cited evidence is reportedly a bloomberg terminal. Note suggesting that churchill was in talks with denrock associates and a group of lucid investors.
Now i don’t claim to know if anything is imminent and have no inside information, but i can see why the stock has responded positively and can understand why so many people are betting on them to eventually come into terms until it happens. Officially, though, it’s risky and if this were to fall through, i shudder to think with the levels the stock would drop to, but this is the high risk high reward nature of investing in specs that i know a lot of you are into so what do you Think is this still going to happen? Let me know in the comments anyways. I hope you enjoyed the video if you want to see more videos like this. Please, like it comment on it and share with your friends and on any of your social media sites and if you’re new to the channel or just an occasional visitor we’d love to have you join the community it’s totally free. You just got ta press that little red subscribe button, and with that i wish you a good week of training.