{"id":2122,"date":"2017-04-18T10:39:11","date_gmt":"2017-04-18T14:39:11","guid":{"rendered":"http:\/\/www.ipoboutique.com\/blog\/?p=2122"},"modified":"2017-04-18T11:05:32","modified_gmt":"2017-04-18T15:05:32","slug":"ipo-boutique-brief-04-18-17-filings-with-terms-come-in-quantity","status":"publish","type":"post","link":"https:\/\/www.ipoboutique.com\/blog\/ipo-boutique-brief-04-18-17-filings-with-terms-come-in-quantity\/","title":{"rendered":"IPO Boutique Brief – 04.18.17 – Filings with terms come in quantity"},"content":{"rendered":"

The IPO pipeline burst open on Monday after the Easter holiday.<\/p>\n

Seven IPOs from an array of sectors are currently on the schedule for next week. At the mid-point of each of the seven new issues, the total cash raise would be $1.19bn. As far as quantity of IPOs, it will be more than six months since the IPO market digested this amount of new offerings in a single week.<\/p>\n

During the week of September 18, 2016, a total of eight IPOs came to market with a total cash raise of $1.22bn. Nearly half of that cash raise came from a $660m offering from Valvoline. That week may have been the pinnacle of the IPO market in 2016 as all eight deals opened with at least 10% gains at first trade and five of the eight deals opened with at least a 25% pop.<\/p>\n

\"Screen<\/a><\/p>\n

A continuing positive sign stemming from the activity in the pipeline is the timeline from first filing to going public. Five of the seven IPOs debuting next week did not officially file an S-1 until March 31 or later. Less than three weeks later these deals have ‘officially launched’ with their respective roadshows underway. For months, we had continued to hear that deals were ‘coming’ or they were ‘in the pipeline’…only to see the official active pipeline numbers dwindle month-after-month. The new norm, apparently, is to not officially show the cards and bring a company public on a strict timeline.<\/p>\n

Among the deals next week, one that is ‘interesting’ at this time is Cloudera — who describes themselves as a company that\u00a0empowers organizations to become data\u2011driven enterprises in the newly hyperconnected world. This company can certainly be described as a ‘unicorn’ and received a outsized private valuation from a large and respected name in the industry — Intel. Intel spent $742 million in May 2014, or roughly $30.72 a share, on Cloudera<\/strong><\/a>. With the current IPO range of $12-$14…this would be roughly a 50% cut on its previous investment. Cloudera’s growth is certainly explosive but recent performance of competitors, Hortonworks in particular, show cause for concern.\u00a0<\/span><\/p>\n

Also in play next week will be a ‘disruptor’ in the car-selling industry, Carvana, a healthcare deal, Zymeworks, a financial company, China Rapid Finance, a flooring company, Floor & Decor Holdings, an energy company, NCS Multistage Holdings and a profitable business-to-business trade show\u00a0company, Emerald Expositions Events.<\/p>\n

It’s a little something for everyone…but its not likely every one of these names will be received with the same reception. Stay with IPO Boutique’s subscription service to keep up to speed with the true color about the book-building process and how the roadshow is being received.<\/p>\n

And then…you can indicate with confidence.<\/p>\n

\n

Company: China Rapid Finance Limited<\/strong>
\nSymbol: XRF
\nPrice: $9.50-$11.50
\nDescription: They operate one of China\u2019s largest consumer lending marketplaces in terms of total number of loans, having facilitated more than 10.7 million loans to more than 1.4 million borrowers at significantly lower borrowing costs than many of their competitors.
\nTrade Date: 4\/27
\nShares: 10 million ADS
\nUnderwriter(s): Morgan Stanley, Credit Suisse, Jefferies
\nFiled: 4-14-17<\/p>\n

Company: Floor & Decor Holdings<\/strong>
\nSymbol: FND
\nPrice: $16.00-$18.00
\nDescription: 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.
\nTrade Date: 4\/27
\nShares: 8.8 million
\nUnderwriter(s): BofA Merrill Lynch, Barclays, Credit Suisse, UBS Investment Bank
\nCo Manager(s): Goldman Sachs & Co., Jefferies, Piper Jaffray, Wells Fargo Securities, Houlihan Lokey
\nTerms Added: 4-17-17<\/p>\n

Company: Carvana Co<\/strong>
\nSymbol: CVNA
\nPrice: $14.00-$16.00
\nDescription: Carvana is a leading eCommerce platform for buying used cars. We are transforming the used car buying experience by giving consumers what they want \u2013 a wide selection, great value and quality, transparent pricing and a simple, no pressure transaction.
\nTrade Date: 4\/28
\nShares: 15 million
\nUnderwriter(s): Wells Fargo Securities, BofA Merrill Lynch, Citigroup, Deutsche Bank Securities
\nCo-Manager(s): Baird, William Blair, BMO Capital Markets, JMP Securities<\/p>\n

Company: Cloudera, Inc.<\/strong>
\nSymbol: CLDR
\nPrice: $12.00-$14.00
\nDescription: Cloudera empowers organizations to become data\u2011driven enterprises in the newly hyperconnected world.
\nTrade Date: 4\/28
\nShares: 15 million
\nUnderwriter(s): Morgan Stanley, J.P. Morgan, Allen and Company
\nCo-Manager(s): BofA Merrill Lynch, Citigroup, Deutsche Bank Securities, Stifel, JMP Securities, Raymond James
\nTerms Added: 4-17-17<\/p>\n

Company: Emerald Expositions Events, Inc.<\/strong>
\nSymbol: EEX
\nPrice: $18.00-$20.00
\nDescription: They are the largest operator of business-to-business trade shows in the United States by NSF, with our oldest trade shows dating back over 110 years.
\nTrade Date: 4\/28
\nShares: 15.5 million
\nUnderwriter(s): BofA Merrill Lynch, Barclays, Goldman Sachs & Co., Citigroup, Credit Suisse, Deutsche Bank Securities, RBC Capital Markets
\nCo-Manager(s): Baird
\nFiled: 4-17-17<\/p>\n

Company: NCS Multistage Holdings<\/strong>
\nSymbol: NCSM
\nPrice: $15.00-$18.00
\nDescription: They are a leading provider of highly engineered products and support services that facilitate the optimization of oil and natural gas well completions and field development strategies.
\nTrade Date: 4\/28
\nShares: 9.5 million
\nUnderwriter(s): Credit Suisse, Citigroup, Wells Fargo Securities
\nCo-Manager(s): J.P. Morgan, Simmons & Company International Energy Specialist of Piper Jaffray, Raymond James, RBC Capital Markets, Tudor Pickering Holt & Co.
\nTerms Added: 4-17-17<\/p>\n

Company: Zymeworks Inc.<\/strong>
\nSymbol: ZYME
\nPrice: $13.00-$16.00
\nDescription: Zymeworks is an innovative, clinical-stage biopharmaceutical company dedicated to the discovery, development and commercialization of next-generation multifunctional biotherapeutics, initially focused on the treatment of cancer.
\nTrade Date: 4\/28
\nShares: 4.5 million
\nUnderwriter(s): Citigroup, Barclays, Wells Fargo Securities
\nCo-Manager(s): Canaccord Genuity, Cormark Securities (USA) Limited
\nTerms Added: 4-17-17<\/p>\n","protected":false},"excerpt":{"rendered":"

The IPO pipeline burst open on Monday after the Easter holiday. Seven IPOs from an array of sectors are currently on the schedule for next week. At the mid-point of each of the seven new issues, the total cash raise would be $1.19bn. As far as quantity of IPOs, it will be more than six[…]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"zakra_general_container_width":0,"zakra_general_content_width":0,"zakra_general_sidebar_width":0,"zakra_sticky_header":"customizer","zakra_header_main_area":true,"zakra_site_logo_width":0,"zakra_header_top_enabled":"customizer","zakra_header_top_style":"customizer","zakra_primary_menu_item_style":"customizer","zakra_page_header_text_color":"","zakra_page_header_layout":"customizer","zakra_page_title_bg":"","zakra_footer_widgets_bg_image":0,"zakra_page_title_bg_repeat":"customizer","zakra_page_title_bg_position":"customizer","zakra_page_title_bg_size":"customizer","zakra_page_title_bg_attachment":"customizer","zakra_breadcrumbs_enabled":"customizer","zakra_breadcrumbs_text_color":"","zakra_breadcrumbs_separator_color":"","zakra_breadcrumbs_link_color":"","zakra_breadcrumbs_link_hover_color":"","zakra_page_title_bg_image":0,"zakra_footer_widgets_enabled":"customizer","zakra_footer_column_layout_1_style":"customizer","zakra_footer_widgets_bg":"","zakra_footer_widgets_bg_repeat":"customizer","zakra_footer_widgets_bg_position":"customizer","zakra_footer_widgets_bg_size":"customizer","zakra_footer_widgets_bg_attachment":"customizer","zakra_footer_bar_enabled":"customizer","zakra_footer_bar_style":"customizer","footnotes":""},"categories":[24,985],"tags":[1161,1162,1163,1073,1108,1139,1164],"class_list":["post-2122","post","type-post","status-publish","format-standard","hentry","category-ipo","category-news","tag-cldr","tag-cvna","tag-eex","tag-fnd","tag-ncsm","tag-xrf","tag-zyme"],"_links":{"self":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/2122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/comments?post=2122"}],"version-history":[{"count":4,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/2122\/revisions"}],"predecessor-version":[{"id":2127,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/2122\/revisions\/2127"}],"wp:attachment":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/media?parent=2122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/categories?post=2122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/tags?post=2122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}