Investing

IPO Week Ahead: GE Spins Out Synchrony in a Whirl of 22 IPOs

Paul Ausick

Transocean Partners LLC is a spin-off from Switzerland-based Transocean Ltd. (NYSE: RIG). The company plans to sell 17.5 million common units in a price range of $19 to $21, raising $350 million. Shares are expected to price on Wednesday and begin trading Thursday on the NYSE under the ticker symbol RIGP. The company will be domiciled in Scotland.

London-based VTTI Energy Partners L.P. plans to sell 17.5 million common units in an IPO range of $19 to $21 to raise about $350 million. The company is among the world’s largest energy terminals businesses and is majority owned by global commodity trader Vitol and Malaysia International Shipping Corp. Common units in the master limited partnership (MLP) are expected to price on Thursday and begin trading Friday on the NYSE under the ticker symbol VTTI.

Here is a rundown of the other IPOs on tap next week:

Zosano Pharma Corp. is a clinical stage specialty pharmaceutical company that has developed a proprietary transdermal microneedle patch system to deliver its existing drugs through the skin. The company plans to offer 6.4 million shares in a price range of $10 to $12 and expects to raise gross proceeds of around $70 million. The pricing and trading dates are not set. The stock will trade on the Nasdaq under the ticker symbol ZSAN.

ContraFect Corp. is a biotechnology company developing treatments for drug-resistant infectious diseases. The company plans to issue 5.5 million units consisting of one share of common stock, one Class A warrant to purchase one additional share of common stock, and one Class B warrant to purchase one-half additional share of common stock. The expected price range is $5 to $6, raising $30 million. The stock, Class A warrants, Class B warrants and units will trade on the Nasdaq under the ticker symbols CFRX, CFRXW, CFRXZ and CFRXU, respectively. The units are expected to price on Tuesday and begin trading Wednesday.

Lantheus Holdings Inc. makes imaging agents for medical diagnostics. The company plans to offer 9.3 million shares in a price range of $12 to $15, raising $125 million. The shares are expected to price on Tuesday and begin trading Wednesday on the Nasdaq under the ticker symbol LNTH.

Westlake Chemical Partners L.P. is a spin-off MLP from Westlake Chemical Corp. (NYSE: WLK) that will acquire and develop ethylene production facilities and assets. The company plans to offer 11.3 million common units in a price range of $19 to $21, raising $225 million. Shares are expected to price on Tuesday and begin trading Wednesday on the NYSE under the ticker symbol WLKP.

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Avalanche Biotechnologies Inc. is a clinical stage biotech firm developing therapies for ophthalmic diseases. The company plans to offer 5.4 million shares in a price range of $13 to $15, raising around $76 million. Shares are scheduled to price on Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol AAVL.

HealthEquity Inc. provides a software platform that helps consumers make health care savings and spending decisions. The company plans to offer 9.1 million shares in an IPO price range of $10 to $12, raising about $100 million. Shares are scheduled to price on Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol HQY.

Macrocure Ltd. is an Israel-based regenerative medicine company. The company plans to offer 5.4 million shares in a price range of $13 to $15, raising about $75 million. Shares are set to price on Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol MCUR.

Marinus Pharmaceuticals Inc. is a clinical stage biopharma company developing neuropsychiatric therapies. The company plans to offer 4 million shares in a price range of $12 to $14, raising $52 million. The stock is set to price on Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol MRNS.