A Baker’s Dozen of IPOs on Tap for Next Week

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We included a dozen scheduled initial public offerings (IPOs) in last week’s preview, and all but one of those made it out the door. So far in September, 16 IPOs have priced and four have been withdrawn. In the coming week, we are looking for as many as 13 IPOs, including two that were delayed from last week. No bakeries included though.

According to Renaissance Capital, 204 IPOs have priced in the United States so far this year, up 35% from a year ago. Total proceeds raised come to $68.2 billion, up about 114% from 2013. In the month of August, IPO proceeds totaled just $0.9 billion, the lowest monthly total thus far in 2014. September’s total so far is $28.1 billion, of which about $22 billion is down to the IPO of Alibaba Group Holding Ltd. (NYSE: BABA). The 2013 IPO total came in at $54.9 billion, the highest total in the past 10 years, and that’s already been surpassed with more than three months left in 2014.

Viking Therapeutics Inc., which has been held over for a second week, is a clinical-stage biopharmaceutical company based in California and focused on developing therapies for metabolic and endocrine disorders. The company plans to offer 5 million shares in a price range of $10 to $12, raising $55 million at a market cap of about $167 million. The IPO is listed as day-to-day. Shares will trade on the Nasdaq under the ticker symbol VKTX.

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DT Asia Investments Ltd., a Hong Kong-based blank check company, is the other holdover from last week. The company will sell 6 million shares at $10 each, and it expects to raise $69 million, including an underwriter’s option on an additional 900,000 shares. Shares are scheduled to begin trading Tuesday on the Nasdaq under the ticker symbol CADTU.

AAC Holdings Inc. offers in-patient services for substance abuse treatment. The company plans to sell 5 million shares in a price range of $12 to $14 and it expects to raise $65 million on a market cap of $268.7 million. William Blair & Co. and Raymond James are joint managers of the offering, which is scheduled to price on Wednesday and begin trading Thursday on the New York Stock Exchange (NYSE) under the ticker symbol AAC.

Atento S.A. is a Luxembourg-based customer relationship management platform provider for the Latin American and Spanish markets. The company plans to offer 14.6 million shares in a price range of $19 to $22, raising about $300 million at a market cap of about $1.5 billion. Morgan Stanley, Credit Suisse Securities (USA) and Banco Itau BBA are joint managers of the offering, which is scheduled to price Wednesday and begin trading Thursday on the NYSE under the ticker symbol ATTO.

Calthera Biosciences Inc. is a clinical-stage pharmaceutical company working on cancer treatments. The company is expected to offer 6 million shares in a price range of $13 to $15 and raise about $84 million at a market cap of around $222 million. Citigroup Global Markets, Leerink Partners., Wells Fargo Securities and JMP Securities are joint managers of the offering, which is scheduled to price on Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol CALA.

JP Energy Partners L.P. is a master limited partnership (MLP) with midstream assets in the Permian Basin, Mid-Continent, Eagle Ford and Bakken fields. The company plans to offer 13.75 million common units at a price of $19 to $21. Barclays Capital, Bank of America Merrill Lynch, Deutsche Bank Securities and RBC Capital Markets are joint managers of the offering, which is expected to price on Wednesday and begin trading Thursday on the NYSE under the ticker symbol JPEP.

Vivint Solar Inc. is a solar energy installation firm that installs systems at a customer location at little to no charge and then sells the power back to the customer at below current utility rates. The firm expects to offer 20.6 million shares in a price range of $16 to $18 million, raising $350.2 million at a market cap of around $1.8 billion. Goldman Sachs, Merrill Lynch, Credit Suisse Securities (USA), Citigroup Global Markets, Deutsche Bank Securities, Morgan Stanley, Barclays Capital and Blackstone Advisory Partners are joint managers of the offering that is set to price on Wednesday and begin trading Thursday on the NYSE under the ticker symbol VSLR.

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VWR Corp. is an independent provider of laboratory products, services and solutions. The company plans to offer 25.5 million shares in an expected price range of $22 to $25 to raise $600 million at a market cap of nearly $3 billion. Merrill Lynch, Goldman Sachs, J.P. Morgan Securities, Barclays Capital, Deutsche Bank Securities, Citigroup Global Markets, Jefferies and William Blair & Co. are joint managers of the offering, which is set to price on Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol VWR.

Wayfair Inc. is among the world’s largest sellers of home goods online. The company plans to offer 11 million shares in an expected price range of $25 to $28, raising about $292 million at a market cap of around $2.2 billion. Goldman Sachs, Merrill Lynch and Citigroup Global Markets are joint managers of the offering, which is scheduled to price on Wednesday and begin trading Thursday on the NYSE under the ticker symbol W.

Dermira Inc. is a specialty biopharmaceutical firm working on dermatology products. The company plans to offer 5.4 million shares in an expected price range of $14 to $16 to raise about $80 million at a market cap of $253.4 million. Aegis Capital is managing the offering, which is expected to price Thursday and begin trading Friday on the Nasdaq under the ticker symbol DERM.

Eyegate Pharmaceuticals Inc. is clinical-state specialty biopharmaceutical firm developing treatments for eye diseases. The company plans to offer 1.9 million shares in a price range of $12 to $14 to raise $25 million at a market cap of around $92 million. Aegis Capital is managing the offering, which is expected to price Thursday and begin trading Friday on the Nasdaq under the ticker symbol EYEG.

FMSA Holdings Inc. is a provider of sand-based proppant to the hydraulic fracturing services and E&P developing oil and gas fields. The company plans to offer 44.5 million shares at an IPO price of $21 to $24 to raise approximately $1 billion for the selling stockholders at a market cap of around $2.74 billion. Morgan Stanley, Wells Fargo Securities, Barclays Capital, Goldman Sachs, Jefferies, J.P. Morgan Securities, KeyBanc Capital Markets and RBC Capital Markets are joint managers for the offering, which is expected to price Thursday and begin trading Friday on the NYSE under the ticker symbol FMSA.

Yodlee Inc. offers a cloud-based services platform for financial institutions, Internet service companies providing innovative financial solutions and third-party developers of financial applications. The company plans to offer 6.25 million shares in an expected price range $11 to $13 to raise $75 million at a market cap of about $340 million. Goldman Sachs, Credit Suisse Securities (USA), Merrill Lynch and UBS Securities are joint managers of the offering, which is expected to price Thursday and begin trading Friday on the Nasdaq under the ticker symbol YDLE.

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