IPO Boutique Research, Color & More Information for Subscribers
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[…]
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[…]
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[…]
Mauser Group B.V. was expected to go public on Thursday and raise roughly $265mm if its 12.6mm offering was priced at the mid-point of the $20-$22 range. Instead, the PE firm, Clayton, Dubilier & Rice (CD&E), decided to sell the supplier of industrial rigid packaging products and reconditioning services to Stone Canyon Industries for an all-cash transaction of[…]
Snap, Inc. made its grand S-1 entrance on Thursday (2/2) with an official filing with the SEC. Talking heads instantly dissected the 200+ page document–everything from its financials to its user growth averages and ending with a potential valuation question. If we had to describe the filing in one word…it would be “aggressive”. There’s a lot to digest, breakdown and[…]
NEW FILINGS Company: Hamilton Lane Incorporated Symbol: HLNE Price: TBD Description: They are a global private markets investment solutions provider with approximately $40 billion of assets under management and approximately $274 billion of assets under advisement. Trade Date: TBD Shares: TB Underwriter(s): J.P. Morgan, Morgan Stanley Co Manager(s): Goldman Sachs & Co., Keefe Bruyette &[…]
SUBSCRIBE TO IPOBoutique’s Free Weekly Newsletter Ramaco Resources (Nasdaq: METC) — ‘METC’ priced 6mm shares at the midpoint of the range, $13.50. Kimbell Royalty Partners (NYSE: KRP) — ‘KRP’ priced 5mm shares at $18.00 — or $1.00 below the range. The initial range for this deal was $19-$21. IC Power Pte (NYSE: ICP) — According[…]
SUBSCRIBE TO IPOBoutique’s Free Weekly Newsletter Invitation Homes (NYSE: INVH) — Invitation Homes priced 77mm shares at $20.00 and will debut on Wednesday (2/1). The initial range was $18-$21. This would raise $1.54bn marking the largest cash raise by an IPO since October 2015. Press Release Laureate Education (Nasdaq: LAUR) — Laureate Education upsized its offering and[…]
SUBSCRIBE TO IPOBoutique’s Free Weekly Newsletter The IPO market came to life after the MLK day holiday as seven deals priced raising a total of $2.1bn. Two deals priced above range and 1 priced below range. The average gain at first trade was 6.3% above the offering price. The first technology deal of 2017 was[…]
The most high-profile IPO of 2017, Snap Inc., continues to leak information that an official IPO filing is imminent. The latest ‘drip’ comes from Recode’s Kara Swisher who reported late Friday night that Snap will officially file sometime later this week and possibly seek up to a $25bn valuation. Reuters is reporting that SnapChat will[…]
It was much to do about nothing. Thanks AppDynamics. Capital market bankers, brokers marketing the deal to their clients and those high within the industry were all shocked and selfishly-disappointed that a hot-deal would not come to market. The deal was multiple-times oversubscribed, already had an increased range (bumped from $10-$12 to $12-$14) and was[…]
NEW FILINGS None to Report TERMS ADDED Company: Ramaco Resources Symbol: METC Price: $12.00-$15.00 Description: They are a developer of high-quality, low-cost metallurgical coal in central and southern West Virginia, southwestern Virginia, and southwestern Pennsylvania. Trade Date: 2/3 Shares: 6.5 million Underwriter(s): Credit Suisse, Jefferies, BMO Capital Markets Co Manager(s): Clarkson’s Platou Securities, Seaport Global[…]
Endra Life Sciences (Nasdaq: NDRA) — The offering is led by Dougherty & Company, Dawson James and is looking to price 2m shares at $5.00-$5.50. According to the Motif Investing site, this deal is now looking to trade on 2/3. Jagged Peak Energy (NYSE: JAG) — Jagged Peak Energy downsized and priced $1.00 below the range.[…]
SUBSCRIBE TO IPOBoutique’s Free Weekly Newsletter The first IPO blow-up of 2017 is in the books. ObsEva Inc. (Nasdaq: OBSV) priced 6.45 million shares at the mid-point of the $14- $16 range through three underwriters: Credit Suisse, Jefferies and Leerink Partners. ObsEva raised $96.75m in the IPO process and even rang the bell at the Nasdaq[…]
SUBSCRIBE TO IPOBoutique’s Free Weekly Newsletter Two healthcare stocks are set to price on Wednesday (1/25) night for Thursday (1/26) trading. AnaptysBio (Nasdaq: ANAB) up-sized its offering and priced at the mid-point of the range. $ANAB priced 5m shares at $15.00. The initial size and range according to the latest S-1/A filing was for 4m[…]
SUBSCRIBE TO IPOBoutique’s Free Weekly Newsletter You think there are a lot of Snap Inc. stories now? …a hoard of headlines are yet to come. For IPO investors, the wait will continue until an official S-1/A is filed with terms. However, it is highly positive to see the amount of stories trickling out about the[…]
SUBSCRIBE TO IPOBoutique’s Free Weekly Newsletter Invitation Homes was one of three companies who set terms for an IPO on Monday morning bringing the total deal count for the week of January 30 to a total of five. The Blackstone Group owned ‘INVH’ is looking to sell a grand total of 77 million shares for[…]
SUBSCRIBE TO IPOBoutique’s Free Weekly Newsletter Market sentiment and political rhetoric surrounding the healthcare sector of the market is beyond bad. Democrats, Republicans, rich and poor have collectively made drug companies their own personal punching bags. Donald Trump about drug companies said, and this is a direct quote, “(They) are getting away with murder.” These comments,[…]
