American Renal Associates Holdings Inc. (Pending:ARA) priced its 7.5 million share IPO @ $22.00, within the anticipated range ($20-23), raising $165 million in proceeds. The company will have a market capitalization of approximately $678M (assuming the option to purchase additional shares is exercised).
For full article: http://seekingalpha.com/article/3966818-american-renal-associates-ipo-prices-22
MGM Growth Properties LLC (Pending:MGP) priced their 50 million share IPO @ $21.00, the top of the anticipated range, raising $1.05 billion. The offering is led by joint bookrunning managers BofA Merrill Lynch, J.P. Morgan, Morgan Stanley, Evercore ISI, Barclays, Citigroup, and Deutsche Bank Securities.
For full article: http://seekingalpha.com/article/3966543-mgm-growth-properties-prices-ipo-high-end-anticipated-range
BATS Global Markets, Inc. (Pending:BATS) priced its upsized 13.3 million share IPO @ $19.00, the top of the anticipated range. The company raised $252.7 million, and will have a market cap of approximately $1.82 billion.
For full article: http://seekingalpha.com/article/3965609-bats-looks-ignite-u-s-ipo-market
First quarter 2016 was the slowest quarter for U.S. IPOs since Q1 2009 (when there was just 1 IPO in Q1, and the world was about to implode). There were just 7 offerings, all in Healthcare, representing approximately $623 million in proceeds. This compares to the same quarter in 2015, in which there were 31 offerings raising approximately $4.87 billion in proceeds.
For full article: http://seekingalpha.com/article/3964670-u-s-ipo-market-desperate-need-oxygen-q1
Aeglea BioTherapeutics Inc. (Pending:AGLE) opened flat and closed at $9.77 in its IPO debut Thursday. The company priced the upsized 5 million share IPO at $10.00, well below the indicated range of $16.00-$18.00. All of the shares being sold are primary shares that the company intends to use:
For full article: http://seekingalpha.com/article/3964007-first-ipo-q2-closes-issue
With the largest and most anticipated U.S. listed IPO of the year now trading, Alibaba Group Holding Limited (BABA: NYSE), here is a look at the performance of the all the 2014 U.S. IPO’s of China based companies to date:
With all eyes focused on the much anticipated end of the week offering of Alibaba, there are 6 additional companies quietly expecting to make their debuts this week:
Civitas Solutions, Inc. (CIVI:NYSE) is the leading national provider of home- and community-based health and human services to must-serve individuals with intellectual, developmental, physical or behavioral disabilities and other special needs. The company is offering 11.7M shares @ $20.00-23.00. The offering is led by Barclays, BAML, and UBS.
* Update: they priced 11.7M shares @ $17.00, well below the range.
Tokai Pharmaceuticals Inc. (TKAI:NSDQ) is a clinical-stage biopharmaceutical company focused on developing novel proprietary therapies for the treatment of prostate cancer and other hormonally-driven diseases. They are offering 5.4M shares @ $13-15. The offering is led by BMO Capital Markets, Stifel, and William Blair.
*Update: they priced an upsized 6.48M shares @ $15.00, the high end of the range.
rEVO Biologics, Inc. (RBIO: NSDQ) is a commercial-stage biopharmaceutical company focused on the development and commercialization of specialty therapeutics to address unmet medical needs in patients with rare, life-threatening conditions. They are offering 3.6M shares @ $13.00-15.00. The offering is led by Piper Jaffray and Guggenheim Securities.
*Update: the offering has been postponed and may come some time next week.
Foamix Pharmaceuticals Ltd. (FOMX: NSDQ) is a clinical-stage specialty pharmaceutical company focused on developing and commercializing our proprietary minocycline foam for the treatment of acne, impetigo and other skin conditions. The company is offering 5.91M shares @ $10.00-12.00. The offering is led by Barclays and Cowen & Company.
ProQR Therapeutics B.V. (PRQR: NSDQ) is an innovative biopharmaceutical company engaged in the discovery and development of RNA-based therapeutics for the treatment of severe genetic disorders, with an initial focus on Cystic Fibrosis, or CF. They are offering 6.25M shares @ $11.00-13.00. The offering is led by Leerink Partners and Deutsche Bank.
Viking Therapeutics, Inc. (VKTX: NSDQ) is a clinical-stage biopharmaceutical company focused on the development of novel, first-in-class or best-in-class therapies for metabolic and endocrine disorders. They are offering 5M shares @ $10.00-12.00. The offering is being led by Oppenheimer & Co. and Roth Capital Partners.
Last but not least….
Alibaba Group Holding Limited (BABA: NYSE) is the largest online and mobile commerce company in the world in terms of gross merchandise volume in 2013, according to the IDC GMV Report. They operate their ecosystem as a platform for third parties, and they do not engage in direct sales, compete with their merchants or hold inventory. The company is offering 320M shares @ $60-66, which would be a market cap of approx $170B at the high end of the range. The offering is being led by Credit Suisse, Deutsche Bank, Goldman, JP Morgan, Morgan Stanley, and Citigroup.
*Update: Due to high demand, the range has been increased to $66-68.
After the typical end of summer slowdown around the Labor Day Holiday, two healthcare companies plan their IPO debut tomorrow:
Affimed Therapeutics B.V. (AFMD:NSDQ) is a clinical-stage biopharmaceutical company focused on discovering and developing highly targeted cancer immunotherapies. The company is offering 6.25M shares (all primary) @ $11.00-13.00. Jefferies & Company, Leerink Partners, and BMO Capital Markets are acting as lead managers, with Trout Capital as a co-manager. Proceeds are expected to be used to fund research and development expenses for their clinical stage candidates AFM13, and AFM11, as well as their pre-clinical candidate AFM21.
ReWalk Robotics Ltd. (RWLK:NSDQ) is a medical device company that is designing, developing and commercializing exoskeletons that allow wheelchair-bound individuals with mobility impairments or other medical conditions the ability to stand and walk once again. The company is offering 3.35M shares (all primary) @ $14.00-16.00. Barclays Capital and Jefferies & Company are acting as lead managers, with Canaccord Genuity as a co-manager. The company received FDA clearance in June 2014, and CE Mark clearance for both personal and rehabilitation use. Proceeds are expected to be used for general corporate purposes, including sales and marketing and research and development expenditures.
The U.S.IPO market is expected to pick up steam next week with an expected 7 new offerings, including the highly anticipated offering of Alibaba (BABA:NYSE) at the end of the week.
Facebook (FB) may be getting most of the headlines and attention, but another social media company has not been lost on the institutional investors. Yelp Inc. (YELP) opened Friday morning at $22.01, after pricing their 7.15 million share IPO at $15.00, above the indicated range of $12-14. The majority of the shares, 7.1 million, are being sold by the company, with the additional 50,000 shares being sold by the selling shareholder, The Yelp Foundation. Based on the $15.00 pricing, the company will have a market capitalization of approximately $898 million. Goldman Sachs, Citigroup, and Jefferies are leading the offering. Bessemer Venture Partners, Elevation Partners, and Benchmark Capital are not selling on the offering and will own approximately 22%, 22% and 16% respectively post offering.
For full article: http://seekingalpha.com/article/407831-not-all-investors-are-waiting-for-facebook-yelp-ipo-opens-up-over-46?v=1330707171&source=tracking_notify
EPAM Systems, Inc. (EPAM) opened up 14.5% at $13.75 Wednesday morning, after pricing a downsized 6 million share IPO at $12.00, versus filing range of $16-$18 on 7.4 million shares. Only about 1.52 million shares (per the last SEC filing of the 7.4 million shares) are coming from the company, while the remaining shares are offered by selling shareholders. Based on the $12.00 pricing, the company will have a market capitalization of approximately $488 million. Citigroup (C), UBS, Barclays (BCS), and RenCap are leading the offering.
For full article: http://seekingalpha.com/article/351061-epam-systems-ipo-priced-to-work-at-12-00
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