New Filings & Terms 2.17.17

NEW FILINGS

Company: J. Jill, Inc.
Symbol: JILL
Price: TBD
Description: J.Jill is a nationally recognized women’s apparel brand focused on a loyal, engaged and affluent customer in the attractive 40-65 age segment.
Trade Date: TBD
Shares: TBD
Underwriter(s): BofA Merrill Lynch, Morgan Stanley, Jefferies
Co Manager(s): Deutsche Bank Securities, RBC Capital Markets, UBS Investment Bank, Wells Fargo Securities, Cowen and Company, Macquarie Capital, SunTrust Robinson Humphrey
Filed: 2-10-17

Company: FTS International
Symbol: FTS
Price: TBD
Description: FTS International is an independent provider of oil and natural gas well stimulation services with expertise in high-pressure hydraulic fracturing.
Trade Date: TBD
Shares: TBD
Underwriter(s): Credit Suisse, Morgan Stanley
Co Manager(s):
Filed: 2-10-17

Company: FDO Holdings
Symbol: FND
Price: TBD
Description: Floor & Decor is a high-growth, differentiated, multi-channel specialty retailer of hard surface flooring and related accessories with 71 warehouse-format stores across 17 states.
Trade Date: TBD
Shares: TBD
Underwriter(s): BofA Merrill Lynch, Barclays, Credit Suisse, UBS Investment Bank
Co Manager(s):
Filed: 2-10-17

Company: Liberty Oilfield Services Inc.
Symbol: BDFC
Price: TBD
Description: They are a rapidly growing independent provider of hydraulic fracturing services to onshore oil and natural gas exploration and production (E&P) companies in North America.
Trade Date: TBD
Shares: TBD
Underwriter(s): Morgan Stanley, Goldman Sachs & Co.
Co Manager(s):
Filed: 2-14-17

Company: Canada Goose Holdings
Symbol: GOOS
Price: TBD
Description: Founded 60 years ago in a small Toronto warehouse, Canada Goose has grown into a highly coveted global outerwear brand.
Trade Date: TBD
Shares: TBD
Underwriter(s): CIBC Capital Markets, Credit Suisse, Goldman Sachs & Co., RBC Capital Markets
Co Manager(s): BofA Merrill Lynch, Morgan Stanley, Barclays, BMO, TD, Wells Fargo Securities, Baird, Canaccord Genuity, Nomura
Filed: 2-15-17

TERMS ADDED

Company: Snap, Inc.
Symbol: SNAP
Price: $14.00-$16.00
Description: Snap Inc. is a camera company. They believe that reinventing the camera represents our greatest opportunity to improve the way that people live and communicate.
Trade Date: 3/2
Shares: 200 million
Underwriter(s): Morgan Stanley, Goldman Sachs & Co., J. P. Morgan, Deutsche Bank Securities, Barclays, Credit Suisse, Allen & Company LLC
Co Manager(s): BTIG, C.L. King & Associates, Citigroup, Connaught (UK) Limited, Cowen and Company, Evercore Partners, Jefferies, JMP Securities, LIONTREE ADVISORS, Luma Partners, Mischler Financial Group, Oppenheimer & Co., RBC Capital Markets, Samuel A. Ramirez & Company, Stifel, Suntrust Robinson Humphrey, The Williams Capital Group, UBS Securities, William Blair & Company

Company: Hamilton Lane Incorporated
Symbol: HLNE
Price: $15.00-$17.00
Description: They are a global private markets investment solutions provider with approximately $40 billion of assets under management (“AUM”) and approximately $274 billion of assets under advisement.
Trade Date: 3/1
Shares: 11.9 million
Underwriter(s): J.P. Morgan, Morgan Stanley
Co Manager(s): Goldman Sachs & Co., Keefe Bruyette & Woods, Wells Fargo Securities, Freeman & Co.

02.15.2017 Secondary Announcement

IPOBoutique.Com rates secondary offerings to hit the tape with a ‘BUY’, ‘NEUTRAL’ or ‘AVOID’ rating. Senior Managing Partner Scott Sweet maintains a track record for all secondary’s he’s issued with a ‘BUY’ rating.

Company: Martin Midstream Partners L.P.
Symbol: MMLP
Price: Last trade $18.85
Description: Re-offer range $18.00-$18.25
Trade Date: 2/16
Shares: 2.6 million
Underwriter(s)RBC Capital Markets, Wells Fargo Securities
Rating=Subscription Needed

Company: Atkore International Group Inc.
Symbol: ATKR
Price: Last trade $26.48
Trade Date: 2/17
Shares: 8 million
Underwriter(s)Credit Suisse, Deutsche Bank, J.P. Morgan
CoManager(s) UBS, Citigroup, RBC, Wells Fargo
Rating=Subscription Needed

Company: Civista Bancshares, Inc.
Symbol: CIVB
Price: Last trade $23.13
Trade Date: 2/22
Shares: 1.3 million
Underwriter(s)Keefe, Bruyette, & Woods, Sandler O’Neill & Partners
Co Manager(s)Boenning & Scattergood, Hovde Group
Rating=Subscription Needed

Company: NGL Energy Partners LP
Symbol: NGL
Price: Last trade $24.15
Description: Re-offer range $22.45-$23.20
Trade Date: 2/16
Shares: 8 million
Underwriter(s)Credit Suisse, Wells Fargo Securities
Rating=Subscription Needed

Company: CIT Group Inc.-BLOCK
Symbol: CIT
Price: Last trade $43.27
Description: Re-offer $42.50-$43.00
Trade Date: 2/16
Shares: 4.8 million
Underwriter(s)Citigroup
Rating=Subscription Needed

Company: TransUnion
Symbol: TRU
Price: Last trade $37.35
Description: Re-offer $36.90-$37.10
Trade Date: 2/16
Shares: 19.85 million
Underwriter(s)Deutsche Bank Securities, BofA Merrill Lynch
Rating=Subscription Needed

02.14.2017 Secondary Announcement

IPOBoutique.Com rates secondary offerings to hit the tape with a ‘BUY’, ‘NEUTRAL’ or ‘AVOID’ rating. Senior Managing Partner Scott Sweet maintains a track record for all secondary’s he’s issued with a ‘BUY’ rating.

Company: Seacoast Banking Corporation
Symbol: SBCF
Price: Last trade $23.97
Description: No re-offer range available
Trade Date: 2/15
Shares: 4.2 million
Underwriter(s)Guggenheim Securities, Sandler O’Neill & Partners, Raymond James
Rating=Subscription Needed

Company: Alcoa-BLOCK
Symbol: AA
Price: Last trade $38.56
Description: Re-offer $38.25
Trade Date: 2/15
Shares: 23.35 million
Underwriter(s)Morgan Stanley
Rating=Subscription Needed

Company: Essent Group Ltd.-BLOCK
Symbol: ESNT
Price: Last trade $36.56
Description: Re-offer $36.35
Trade Date: 2/15
Shares: 1 million
Underwriter(s)Barclays
Rating=Subscription Needed

IPO Boutique Brief – JP Morgan forecasts strong IPO market

The IPO market is not feeling the love in the form of official filings. But at least one major head of a top-tier firm has a special place in her heart for the prospects of the syndicate arena in 2017 and beyond.

Okay — the Valentine’s day puns end there.

JPMorgan’s head of global equity capital markets, Liz Myers, spoke with Business Insider and still believes in a strong rebound in the IPO market.

“We’re seeing quite a sentiment reversal in the IPO market this year, particularly in the US, where January marked the best start to the year since 2014,” Myers said to Business Insider.

“Both issuers and investors are approaching the market more constructively this year,” she said. “Combined with a pro-growth backdrop, we expect to see a notable increase in IPO volumes this year.”

This is in line with our sources at other major top-tier firms. But the sentiment that is starting to creep up within our sources is that there is a giant deal on the horizon and many would “choose not to compete” from a publicity standpoint.

We are talking about Snap.

Snap is indeed large enough and carries enough weight to pause the IPO market.

The lack of terms being added on Monday (2/13) and now Tuesday (2/14) morning indicates to us that next week will be another light week on the IPO front.

02.13.2017 Secondary Announcement

IPOBoutique.Com rates secondary offerings to hit the tape with a ‘BUY’, ‘NEUTRAL’ or ‘AVOID’ rating. Senior Managing Partner Scott Sweet maintains a track record for all secondary’s he’s issued with a ‘BUY’ rating.

Company: Aldeyra Therapeutics Inc.
Symbol: ALDX
Price: Last trade $4.75
Description: Re-offer $4.50
Trade Date: 2/14
Shares: 2.2 million
Underwriter(s)Stifel, Canaccord Genuity, Laidlaw & Co.
Rating=Subscription Needed

Company: Gevo, Inc.
Symbol: GEVO
Price: Last trade $2.33
Description: No re-offer range available
Trade Date: 2/14
Shares: 4.3 million
Underwriter(s)Oppenheimer & Co.
Co Manager(s)Rodman & Renshaw
Rating=Subscription Needed

New Filings — Week ending 2.10.17

NEW FILINGS

Company: Azul S.A.
Symbol: TBD
Price: TBD
Description: They are the largest airline in Brazil in terms of departures and cities served, with 784 daily departures serving 101 destinations, creating an unparalleled network of 203 non-stop routes as of December 31, 2016.
Trade Date: TBD
Shares: TBD
Underwriter(s): Citigroup, Deutsche Bank Securities, Itau BBA, Banco do Brasil Securities, Bradesco BBI, J.P. Morgan, Raymond James, Santander
Co Manager(s):
Filed: 2-6-17

Company: SG Blocks
Symbol: SGBX
Price: TBD
Description: SGB is in the business of modifying cargo shipping containers for use in construction.
Trade Date: TBD
Shares: TBD
Underwriter(s): Joseph Gunnar & Co.
Co Manager(s):
Filed: 2-6-17

Company: ProPetro Holdings Corp
Symbol: PUMP
Price: TBD
Description: They are a growth-oriented, Midland, Texas-based oilfield services company providing hydraulic fracturing and other complementary services to leading upstream oil and gas companies engaged in the exploration and production, or E&P, of North American unconventional oil and natural gas resources.
Trade Date: TBD
Shares: TBD
Underwriter(s): Goldman Sachs & Co., Barclays, Credit Suisse, J.P. Morgan, Evercore ISI RBC Capital Markets, Simmons & Company International Energy Specialists of Piper Jaffray, Raymond James, Deutsche Bank Securities, Tudor Pickering Holt & Co., Johnson Rice & Company L.L.C.
Co Manager(s):
Filed: 2-8-17

IPO Pricings – Foundation Building Materials, Clipper Realty on deck (2.9.17)

Clipper Realty (NYSE: CLPR) — The FBR led deal priced a down-sized 5.7mm shares at the low-end of the range, $13.00. The initial filing was for 7.1mm shares between 13.50-$15.50.

Foundation Building Materials (NYSE: FBM) — According to the lead left underwriter, $FBM priced a 12.8mm shares at $14.00. The week’s largest offering was looking for roughly $230mm if they would have priced its offering at the midpoint of the initial $17.00-$19.00 range.

Sachem Capital (NYSE: SACH) — The Joseph Gunnar led deal priced 2.6mm shares at $5.00. The initial filing was for 3mm shares at $5.00-$5.00.

Press Release

02.09.2017 Secondary Announcement-p.m.

IPOBoutique.Com rates secondary offerings to hit the tape with a ‘BUY’, ‘NEUTRAL’ or ‘AVOID’ rating. Senior Managing Partner Scott Sweet maintains a track record for all secondary’s he’s issued with a ‘BUY’ rating.

Company: BioTime
Symbol: BTX
Price: Last trade $3.01
Description: Re-offer $2.70-$2.75
Trade Date: 2/10
Shares: 5.7 million
Underwriter(s)Raymond James & Associates
Rating=Subscription Needed

Company: Cliffs Natural
Symbol: CLF
Price: Last trade $11.37
Description: Re-offer $10.50-$11.37
Trade Date: 2/10
Shares: 50 million
Underwriter(s)Goldman Sachs
Rating=Subscription Needed

02.08.2017 Secondary Announcement-p.m.

IPOBoutique.Com rates secondary offerings to hit the tape with a ‘BUY’, ‘NEUTRAL’ or ‘AVOID’ rating. Senior Managing Partner Scott Sweet maintains a track record for all secondary’s he’s issued with a ‘BUY’ rating.

Company: Sierra Oncology
Symbol: SRRA
Price: Last trade $1.42
Description: Re-offer $1.35
Trade Date: 2/9
Shares: 18.5 million
Underwriter(s)Jefferies
Rating=Subscription Needed