IPO Boutique keeps apprised of the active pipeline. Currently there are 78 active IPOs in the pipeline as of October 20, 2017. No SPACs or Unit Offerings are included. While the numbers may look diminished, we outlined why “looks may be perceiving” when it comes to the IPO pipeline in this article.
NEW FILINGS
Company: Apellis Pharmaceuticals
Symbol: APLS
Description: They are a clinical-stage biopharmaceutical company focused on the discovery and development of novel therapeutic compounds for autoimmune and inflammatory diseases.
Trade Date: TBD
Underwriter(s): Citigroup, J.P. Morgan
Filed 10-13-17
Listed Cash Raise: $150 million
Note: Previously withdrawn in February 2016
Company: CBTX, Inc
Symbol: CBTX
Description: They are a bank holding company that operates through our wholly-owned subsidiary, CommunityBank of Texas, in Houston and Beaumont, Texas.
Trade Date: TBD
Underwriter(s): Stephens, Keefe Bruyette & Woods, Sandler O’ Neill + Partners
Filed 10-13-17
Listed Cash Raise: $50 million
Company: Bandwidth, Inc
Symbol: BAND
Description: They are a leading cloud-based communications platform for enterprises in the United States.
Trade Date: TBD
Underwriter(s): Morgan Stanley, Keybanc Capital, Baird
Co-Manager(s): Canaccord Genuity, JMP Securities
Filed 10-13-17
Listed Cash Raise: $85 million
Company: Four Seasons Education (Cayman) Inc.
Symbol: TBD
Description: They are dedicataed to providing high quality math education. In 2016 and the six months ended June 30, 2017, we were the largest after-school math education service provider for elementary school students in Shanghai, as measured by gross billings and number of students, according to the Frost & Sullivan Report.
Trade Date: TBD
Underwriter(s): Morgan Stanley, Citigroup, China Renaissance
Filed 10-13-17
Listed Cash Raise: $120 million
Company: PPDAI Group Inc.
Symbol: PPDF
Description: They are a leading online consumer finance marketplace in China with strong brand recognition.
Trade Date: TBD
Underwriter(s): Credit Suisse, Citigroup
Co-Manager(s): Keefe Bruyette & Woods
Filed 10-13-17
Listed Cash Raise: $350 million
Company: Fireman B.V.
Symbol: IFRX
Description: They are a clinical stage biopharmaceutical company focused on applying their proprietary anti-C5a technology to discover and develop first-in-class, potent and specific inhibitors of C5a.
Trade Date: TBD
Underwriter(s): J.P. Morgan, Leerink Partners, BMO Capital Markets
Filed 10-13-17
Listed Cash Raise: $86.25 million
Company: Workspace Property Trust
Symbol: WSPT
Description: Workspace Property Trust is a fully integrated real estate investment company primarily focused on acquiring, owning and operating high-quality office and flex real estate in prime locations within transit centric, amenity rich U.S. suburban office submarkets.
Trade Date: TBD
Underwriter(s): Goldman Sachs & Co, J.P. Morgan, BofA Merrill Lynch
Filed 10-16-17
Listed Cash Raise: $100 million
Company: SendGrid, Inc.
Symbol: SEND
Description: They are a leading digital communication platform, enabling businesses to engage with their customers via email reliably, effectively and at scale.
Trade Date: TBD
Underwriter(s): Morgan Stanley, J.P. Morgan
Co-Manager(s): William Blair, KeyBanc Capital Markets, Piper Jaffray, Stifel
Filed 10-18-17
Listed Cash Raise: $100 million
Company: Stitch Fix, Inc.
Symbol: SFIX
Description: They are reinventing the shopping experience by delivering one-to-one personalization to our clients through the combination of data science and human judgment.
Trade Date: TBD
Underwriter(s): Goldman Sachs & Co., J.P. Morgan
Co-Manager(s): Barclays, RBC Capital Markets, Piper Jaffray, Stifel, William Blair
Filed 10-19-17
Listed Cash Raise: $100 million
Company: Sterling Bancorp, Inc.
Symbol: TBD
Description: They are a unitary thrift holding company headquartered in Southfield, Michigan with our primary branch operations in San Francisco and Los Angeles, California.
Trade Date: TBD
Underwriter(s): Sandler O’ Neill + Partners
Filed 10-19-17
Listed Cash Raise: $230 million
Company: WatchGuard, Inc.
Symbol: WGRD
Description: They are the leading provider of mobile video solutions for law enforcement. Our products include in-car video systems, body-worn cameras and evidence management software.
Trade Date: TBD
Underwriter(s): Barclays, SunTrust Robinson Humphrey
Co-Manager(s): Oppenheimer & Co., Cowen
Filed 10-19-17
Listed Cash Raise: $75 million
TERMS ADDED
Company: Merchants Bancorp
Symbol: MBIN
Description: They are a diversified bank holding company headquartered in Carmel, Indiana and registered under the Bank Holding Company Act of 1956, as amended.
Shares: 5.55 million
Price Range: $17.00-$19.00
Trade Date: 10/27
Underwriter(s): Sandler O’Neill + Partners, Stephens Inc., Raymond James
Co-Manager: SunTrust Robinson
Filed 10-16-17
Company: National Vision Holdings, Inc.
Symbol: EYE
Description: They are one of the largest and fastest growing optical retailers in the United States and a leader in the attractive value segment of the U.S. optical retail industry.
Shares: 15.8 million
Price Range: $18.00-$20.00
Trade Date: 10/26
Underwriter(s): BofA Merrill Lynch, Goldman Sachs & Co., Citigroup, KKR, Morgan Stanley, Jefferies, UBS Investment Bank, Wells Fargo Securities
Co-Manager(s): Guggenheim Securities, Mizuho Securities, Macquarie Capital
Filed 10-16-17
Company: BP Midstream Partners LP
Symbol: BPMP
Description: They are a fee-based, growth-oriented master limited partnership recently formed by BP Pipelines, an indirect wholly owned subsidiary of BP, to own, operate, develop and acquire pipelines and other midstream assets.
Shares: 42.5 million
Price Range: $19.00-$21.00
Trade Date: 10/26
Underwriter(s): Citigroup, Goldman Sachs & Co., Morgan Stanley, Barclays, Credit Suisse, J.P. Morgan, UBS Investment Bank
Co-Manager(s): BofA Merrill Lynch, Deutsche Bank Securities, Mizuho Securities, MUFG, BNP PARIBAS, Credit Agricole CIB, SOCIETE GENERALE
Filed 10-16-17
Company: Forescout Technologies, Inc.
Symbol: FSCT
Description: They have pioneered an agentless approach to network security to protect organizations against the emerging threats that exploit the billions of devices connected to organizations’ networks.
Shares: 4.8 million
Range: $20.00-$22.00
Trade Date: 10/27
Underwriter(s): Morgan Stanley, J.P. Morgan, Citigroup
Co-Manager(s): BofA Merrill Lynch, UBS Investment Bank, KeyBanc Capital Markets
Terms Added: 10-16-17
Company: Hexindai, Inc
Symbol: HX
Description: They are a fast-growing consumer lending marketplace facilitating loans to meet the increasing consumption demand of the emerging middle class in China.
Shares: 2.7 – 8.9 million
Price Range: $9.00-$11.00
Trade Date: TBD
Underwriter(s): Network 1 Securities
Terms Added: 10-16-17
Company: Evoqua Water Technologies Corp.
Symbol: AQUA
Description: They are a leading provider of mission critical water treatment solutions, offering services, systems and technologies to support our customers’ full water lifecycle needs.
Shares: 27.8 million
Range: $17.00-$19.00
Trade Date: 11/2
Underwriter(s): Credit Suisse, J.P Morgan, RBC Capital, Citigroup, Goldman Sachs & Co.
Co-Manager(s): Morgan Stanley, Baird, Raymond James, Stifel, Wells Fargo Securities
Terms Added: 10-18-17
Company: ACM Research, Inc.
Symbol: ACMR
Description: They develop, manufacture and sell single-wafer wet cleaning equipment, which semiconductor manufacturers can use in numerous manufacturing steps to remove particles, contaminants and other random defects, and thereby improve product yield, in fabricating advanced integrated circuits, or chips.
Shares: 2 million
Price Range: $7.50-$9.50
Trade Date: TBD
Underwriter(s): Roth Capital Partners
Co-Manager(s): Craig Hallum Capital, The Benchmark Company
Terms Added: 10-18-17
Company: Altair Engineering, Inc
Symbol: ALTR
Description: They are a leading provider of enterprise-class engineering software enabling innovation across the entire product lifecycle from concept design to in-service operation.
Shares: 12 million
Price Range: $11.00-$13.00
Trade Date: 11/1
Underwriter(s): J.P. Morgan, RBC Capital Markets, Deutsche Bank Securities
Co-Manager(s): William Blair, Canaccord Genuity
Terms Added: 10-19-17
Company: Prolung, Inc.
Symbol: LUNG
Description: They are a medical technology company specializing in predictive analytic, early stage lung cancer risk testing, which we refer to as the “ProLung Test.”
Shares: 0.93 million
Price Range: $7.00-$8.00
Trade Date: TBD
Underwriter(s): Maxim Group, Aegis
Terms Added: 10-17-17
Company: Ablynx NV
Symbol: ABLX
Description: They are a late-stage clinical biopharmaceutical company utilizing our proprietary Nanobody platform to develop treatments for a broad range of therapeutic indications with an unmet medical need. Their ordinary shares are listed on Euronext Brussels under the symbol ‘ABLX’.
Shares: 7.16 million
Price Range: $20.95-$20.95
Trade Date: 10/25
Underwriter(s): BofA Merrill Lynch, J.P. Morgan, Jefferies
Co-Manager(s): Baird, Bryan Garnier & Co., Ladenburg Thalmann
Terms Added: 10-17-17
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