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Illustration: Shoshana Gordon/Axios

The IPO market is lighting its fireworks a bit early, with a whopping 17 companies planning to list this week on U.S. exchanges.

Driving the news: Chinese ride-hail company Didi is expected to be the week's top float, with plans to raise nearly $4 billion.

  • Other big issuers should be cybersecurity company SentinelOne, Turkish e-commerce platform D-Market and doughnut chain Krispy Kreme.
  • Many of this week's companies began prepping their IPOs late last fall.

By the numbers: This would be the third time in 2021 that U.S. markets saw 17 IPOs, following weeks in February and March, per Renaissance Capital. Before that, however, it hadn't happened since December 2006.

  • Q2 2021 is expected to go down as the busiest quarter for U.S. IPOs since 2000, while June 2021 will be the busiest month since that same year.
  • Renaissance Capital's Matthew Kennedy emails: "We're all drowning in work! Buy-side, sell-side, lawyers & advisors ... I know the virtual roadshows of some sizable deals are sparsely attended since fund analysts have only so much time. And we've definitely noticed an uptick in prospectus typos."

Part of this week's boom is about getting out before the July 4 holiday. Another part is companies trying to price before quarter-end, so they needn't provide another set of financials.

  • But a top Wall Street banker tells me not to expect a July lull, with dozens of companies expecting to price. He adds that we should see a slew of new IPO filings over the next week or two.

The bottom line: The IPO window isn't just open. The glass has been smashed and the framing has been removed.

Go deeper

Venture capitalist Bill Gurley says more companies are going public due to pressure

Photo: Axios

Venture capitalist Bill Gurley said at an Axios event Wednesday that more companies are starting to go public after staying private longer and seeing capital pile up.

Why it matters: Within the past year, many companies have filed to go public — either via IPOs or SPACs — including eyewear brand Warby Parker, Bowlero, the owners of Forever 21 and Aeropostle, AppHarvest and more.

Dan Primack, author of Pro Rata
44 mins ago - Economy & Business

Peloton stock tanks on report of production halt

Illustration: Aïda Amer/Axios

Peloton stock fell by as much as 25% on Thursday, following a CNBC report that the connected fitness company will temporarily halt production on its bikes and treadmills.

Why it matters: Peloton is viewed by many as a proxy for consumer behavior in the pandemic era, as its popularity surged when gyms closed and people wanted to exercise at home.

Updated 46 mins ago - Politics & Policy

Omicron dashboard

Illustration: Brendan Lynch/Axios

  1. Health: Omicron pushes COVID deaths toward 2,000 per day — The pandemic-proof health care giant.
  2. Vaccines: No evidence that healthy children, teens need boosters, WHO says — Starbucks drops worker vaccine or test requirement after SCOTUS ruling — Kids' COVID vaccination rates are particularly low in rural America.
  3. Politics: Biden concedes U.S. should have done more testing — Arizona says it "will not be intimidated" by Biden on anti-mask school policies.
  4. World: American Airlines flight to London forced to turn around over mask dispute — WHO: COVID health emergency could end this year — Greece imposes vaccine mandate for people 60 and older.
  5. Variant tracker