Investing

IPO Calendar Fills Up for Week of December 8

IPO
Source: Thinkstock
Only one initial public offering (IPO) was completed in the week following the Thanksgiving holiday, but it appears that the IPO game has heated up for the coming week. No fewer than 10 IPOs are on the calendar for the week beginning December 8.

Last week’s IPO of Histogenics Corp. (NASDAQ: HSGX) added $65 million to the year’s IPO total, but the regenerative medicine company’s offering went out at $11 a share, well below the projected range of $13 to $15.

IPO ETF manager Renaissance Capital reported that 262 IPOs have priced in the United States so far this year, up about 25% from a year ago. Total proceeds raised come to $82.1 billion, up more than 66% from 2013. The 2013 IPO total came in at $54.9 billion, the highest total in the past 10 years.

S1 Biopharma Inc. is the one holdover IPO scheduled for the coming week. It is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel, first-in-class therapies for sexual dysfunction. The company plans to offer 1.8 million shares in an IPO price range of $12 to $14 to raise about $23 million at a market cap of around $119 million. The sole bookrunner is MLV & Co. Shares have no scheduled pricing date other than the week of December 8, and they will be traded on the Nasdaq under the ticker symbol SXB.

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LendingClub Corp. is an online marketplace that connects borrowers and investors. The company plans to offer 57.7 million shares in an IPO price range of $10 to $12 to raise about $635 million at a market value of $3.97 billion. Joint bookrunners for the offering are Morgan Stanley, Goldman Sachs, Credit Suisse and Citigroup. Co-managers are Allen & Co., Stifel, BMO Capital Markets, William Blair and Wells Fargo Securities. The shares are scheduled to price on Wednesday and begin trading Thursday on the New York Stock Exchange (NYSE) under the ticker symbol LC.

Polar Star Realty Trust Inc. is a Maryland-based corporation that acquires, owns, leases and manages office and industrial properties primarily in the Nordic countries of Norway, Sweden and Denmark. The company plans to offer 43.5 million shares in an IPO price range of $10 to $13 to raise $500 million on a market cap of around $800 million. Joint bookrunners for the IPO are FBR Capital Markets, Wunderlich Securities and ABG Sundal Collier. The shares are scheduled to price on Wednesday and begin trading Thursday on the NYSE under the ticker symbol PSRT.

Avolon Holdings Ltd. is an Ireland-based global aircraft leasing company focused on acquiring, managing and selling commercial aircraft. The company plans to offer 13.6 million shares in an IPO price range of $21 to $23 to raise $300 million on a market value of $1.78 billion. Joint bookrunners for the offering are J.P. Morgan, Morgan Stanley, Citigroup, UBS Investment Bank and Wells Fargo Securities. Co-managers include BNP Paribas, Cowen, Credit Agricole CIB, DBS Bank and Natixis. The shares are scheduled to price on Thursday and begin trading Friday on the NYSE under the ticker symbol AVOL.

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Connecture Inc. is a web-based consumer shopping, enrollment and retention platform for health insurance distribution. The company intends to offer 5.8 million shares in an IPO price range of $12 to $14 to raise $75 million at a market cap of about $270 million. Joint bookrunners are Morgan Stanley and J.P. Morgan. Co-managers are Wells Fargo Securities, Raymond James and William Blair. The shares are scheduled to price on Thursday and begin trading Friday on the Nasdaq under the ticker symbol CNXR.

Hortonworks Inc. is a technology company that offers a software architectural platform that supports big data operations within the Hadoop ecosystem. The company plans to offer 6 million shares in an IPO price range of $12 to $14 to raise $78 million at a market value of around $538 million. Joint bookrunners for the offering are Goldman Sachs, Credit Suisse and RBC Capital Markets. Co-managers include Pacific Crest, Wells Fargo Securities and Blackstone Capital Markets. The shares are scheduled to price on Thursday and begin trading Friday on the Nasdaq under the ticker symbol HDP.

James River Group Holding Ltd. is a Bermuda-based insurance holding company. The company plans to offer 11 million shares in an IPO price range of $22 to $24, raising $253 million at a market value of around $656 million. Joint bookrunners for the offer are Keefe Bruyette Woods, UBS Investment Bank, FBR Capital Markets and BMO Capital Markets. Co-managers are KeyBanc Capital Markets, Suntrust Robinson Humphrey and Scotiabank/Howard Weil. The shares are scheduled to price on Thursday and begin trading Friday on the Nasdaq under the ticker symbol JRVR.

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Metaldyne Performance Group Inc. is a supplier of engineered powertrain and safety components for the global light, commercial and industrial vehicle markets. The company plans to offer 15.4 million shares in an IPO price range of $18 to $21, raising $300 million at a valuation of $1.3 billion. Joint bookrunners for the offering include Bank of America Merrill Lynch, Goldman Sachs, Deutsche Bank, Barclays, Credit Suisse and RBC Capital Markets. Co-managers are Baird, KeyBanc Capital Markets and Nomura Securities. The shares are scheduled to price on Thursday and begin trading Friday on the NYSE under the ticker symbol MPG.

Momo Inc. is a Beijing-based mobile social networking platform. The company plans to offer 16 million shares in an IPO price range of $12.50 to $14.50 to raise about $216 million at a market value of around $2.52 billion. Joint bookrunners for the offering are Morgan Stanley, Credit Suisse, J.P. Morgan and China Renaissance. The shares are scheduled to price on Thursday and begin trading Friday on the Nasdaq under the ticker symbol MOMO.

New Relic Inc. makes and sells a cloud-based suite of products enables organizations to collect, store and analyze massive amounts of software data in real time. The company is offering 5 million shares in an IPO price range of $18 to $20, raising $95 million at a market cap of around $876 million. Joint bookrunners are Morgan Stanley and J.P. Morgan. Co-managers include Allen & Co., UBS Investment Bank, JMP Securities and Raymond James. The shares are scheduled to price on Thursday and begin trading Friday on the NYSE under the ticker symbol NEWR.

Workiva Inc. makes and sells a cloud-based and mobile-enabled platform for enterprises to collaboratively collect, manage, report and analyze critical business data in real time. The company plans to offer 7.2 million shares in an IPO price range of $13 to $15 to raise about $100 million at a market cap of $553 million. Joint bookrunners for the offering are Morgan Stanley and Credit Suisse. Co-managers are Baird, Raymond James and Stifel. The shares are scheduled to price on Thursday and begin trading Friday on the NYSE under the ticker symbol WK.

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