Intriguing IPOS? Lineage (LINE) and Concentra Group Holdings (CON)

Two IPOs this week worth cracking open the S-1s

Study in a Wood, Daniel Huntington, 1861, oil on canvas (Metropolitan Museum of Art)

The IPO market has been a little quieter in recent weeks. Or, at least from my perspective, there haven’t been any companies worth going past the business description section.

(side note: I’ll wholly admit that a few pre-clinical trial drug companies IPOd, and I have no idea if they are worth time and attention. Startup drug companies and banks remain languages I cannot speak).

This week, two companies intend to IPO that have a lot of surface appeal. Some would argue that a third company, OneStream (NASDAQ: ON), is a worthy candidate. However, I’m less confident that the public market needs yet another private-equity-backed, unprofitable B2B SaaS company shoved down its throat. So let’s save our energy for two: Lineage (NASDAQ: LINE) and Concerta Group Holdings Parent, Inc. (NYSE: CON). Here’s a knee-jerk reaction to both prospectuses.

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