A week following a holiday usually attracts few initial public offerings (IPO), and the coming week is no different. There is one new offering on the schedule, one revised offering and a potential third that did not make it out the door last week.
But the year to date has been a massive success for IPOs. According to Renaissance Capital, 148 IPOs have priced in the United States so far this year, up nearly 61% from a year ago. Total proceeds raised come to $31.5 billion, up more than 52% from 2013. In the month of June, IPO proceeds totaled $8 billion, tied with April for the highest monthly total so far this year. The 2013 IPO total came in at $54.9 billion, the highest total in the past 10 years. So far in 2014, IPOs have put $31.5 billion into the coffers of new publicly traded companies.
Here is a brief look at each of the coming week’s IPOs.
Medical Transcription Billing Corp. provides a suite of integrated Web-based solutions and business services (software as a service, or SaaS) to health care providers practicing in ambulatory settings. The company is based in New Jersey and its operations are located in Pakistan. The company plans to offer 3 million shares in an estimated price range of $9 to $11. At the midpoint of the price range, the company would raise $30 million. Shares are expected to price Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol MTBC.
Microlin Bio Inc. is a development-stage diagnostics and therapeutic company that expects to offer 5.5 million units in a price range of $4.50 to $5.50. On July 3, the company changed its offering to create a unit comprising one share and one warrant to purchase a share at a price of $6 within five years. This IPO has been postponed in each of the past three weeks. Pricing and trading dates are expected this coming week, but no firm dates have been given. The stock will trade on the Nasdaq under the ticker symbol MCLB.
KineMed Inc. is a commercial stage biotech firm that plans to offer 4.5 million shares in an IPO range of $6.50 to $7.50. This IPO has now been delayed for two weeks. Pricing and trading dates are given as “day-to-day.” The stock will trade on the Nasdaq under the ticker symbol KNMD.