NC trend: How 9 N.C. IPOs of 2021 are faring

Shares of nine N.C. companies started trading publicly in 2021, reflecting a soaring stock market and the desire of private equity owners to profit from their investments. While most involved traditional IPOs, Humacyte and Sunlight Financial went public through mergers with special purpose acquisition companies, or SPACs. Enact Holdings was spun off by Richmond, Va.-based Genworth. Seven of the nine companies reported higher trading prices as of mid-November, led by Charlotte-based Gambling.com, which gained 84%.

New public N.C. companies, ranked by market capitalization

Driven Brands
Charlotte | Auto service franchisor | Jan. 29
–IPO price: $22 per share
–Net proceeds: $661 million
–Nov. 12 closing price: $32.23
–Change from IPO: $47%
–Market value: $5.4 billion
–Key owner: Roark Capital Partners (49%)

AVIDXCHANGE
Charlotte | Accounts payable software | Oct. 13
–IPO price: $25
–Net proceeds: $660 million
–Nov. 12 closing price: $25.95
–Change from IPO: 4%
–Market value: $5 billion
–Key owner: Bain Capital Ventures (12%)

Enact Holdings
Raleigh | Private mortgage insurance | Sept. 20
–IPO price: $19 per share
–Net proceeds: $535 million
–Nov. 12 closing price: $22
–Change from IPO: 16%
–Market value: $3.9 billion
–Key owner: Genworth Financial (82%)

Krispy Kreme
Charlotte | Doughnut retailer | July 1
–IPO price: $17 per share
–Net proceeds: $500 million
–Nov. 12 closing price: $14.45
–Change from IPO: –15%
–Market value: $2.4 billion
–Key owner: Jab Holding (43%)

Snap-One
Charlotte | Smart-technology integrator | July 27
–IPO price: $18 per share
–Net proceeds: $250 million
–Nov. 12 closing price: $22.60
–Change from IPO: 26%
–Market value: $1.7 billion
–Key owner: Hellman & Friedman Investors (72%)

Bioventus
Durham | Orthopedic healing solutions | Feb. 11
–IPO price: $11 per share
–Net proceeds: $104 million
–Nov. 12 closing price: $15.84
–Change from IPO: 44%
–Market value: $1.1 billion
–Key owner: Essex Woodlands Healthcare Partners (72%)

Humacyte
Durham | Regenerative medicine biotech | August 27
–IPO price: $10 per share
–Net proceeds: $245 million
–Nov. 12 closing price: $10.36
–Change from IPO: 4%
–Market value: $1 billion
–Key owner: CEO Laura Niklason (72%)

Gambling.com
Charlotte | Digital marketing for gaming industry | July 23
–IPO price: $8 per share
–Net proceeds: $42 million
–Nov. 12 closing price: $14.75
–Change from IPO: 84%
–Market value: $499 million
–Key owner: Chairman Mark Blandford (38%)

Sunlight Financial 
Charlotte | Financing for home improvements | July 12
–IPO price: $9.50 per share
–Net proceeds: $250 million
–Nov. 12 closing price: $5.49
–Change from IPO: 42%
–Market value: $460 million
–Key owner: FTV Capital (19%)