Secondaries Announced 8.9.17

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Our Buy, Neutral or Avoid ratings of the Secondaries below are intended as a recommendation for those who buy Secondaries on a regular basis. For example, this is not to be interpreted as a Buy recommendation in the traditional sense of adding to your stock portfolio; this is a short term (usually one day or opening trade) time period.

 

Company: Aclaris Therapeutics
Symbol: ACRS
Price: Last Trade $26.97
Trade Date: 8/11
Shares: 2.8 million ($75m cash raise)
Underwriter(s) : Jefferies, Leerink
Co-Manager(s): William Blair, Guggenheim, JMP Securities
Rating = Subscription Needed

Company: Modine Manufacturing
Symbol: MOD
Price: Last Trade $16.80
Trade Date: 8/10
Re-offer Range: Subscription Needed
Shares: 5 million
Underwriter(s) : Baird, Keybanc Capital
Co-Manager(s): Seaport Capital, Craig Hallum
Rating = Subscription Needed

Company: MagnaChip Semiconductor Corp – Block
Symbol: MX
Price: Last Trade $11.80
Trade Date: 8/10
Re-offer Range: Subscription Needed
Shares: 4.09 million
Underwriter(s) : Barclays
Rating = Subscription Needed

Company: BeiGene Ltd.
Symbol: BGNE
Price: Last Trade $77.30
Trade Date: 8/11
Shares: 1.6 million ($125m cash raise)
Underwriter(s) : Morgan Stanley, Goldman Sachs & Co., Cowen and Company
Rating = Subscription Needed

Company: Kura Oncology
Symbol: KURA
Price: Last Trade $9.10
Trade Date: 8/11
Shares: 5.3 million
Underwriter(s) : Leerink, Cowen and Company
Co-Manager(s): JMP Securites, Oppenheimer & Co.
Rating = Subscription Needed

Company: Milacron Holdings
Symbol: MCRN
Price: Last Trade $17.26
Trade Date: 8/10
Re-offer Range: Subscription Needed
Shares: 9 million
Underwriter(s) : Credit Suisse
Rating = Subscription Needed

Company: Manchester United Plc
Symbol: MANU
Price: Last Trade $17.15
Trade Date: TBD
Shares: 4.25 million
Underwriter(s) : Morgan Stanley
Rating = Subscription Needed

Company: Diamondback Energy
Symbol: FANG
Price: Last Trade $94.58
Trade Date: 8/10
Re-offer Range: Subscription Needed
Shares: 3 million
Underwriter(s) : Credit Suisse
Rating = Subscription Needed