Investing

IPO Schedule for Next Week Includes Big Data Firm Inovalon

Avenue Financial Holdings Inc. is a bank holding company operating in the Nashville, Tenn., area. The bank plans to offer 2.5 million shares at an IPO price range of $11 to $13 to raise $30 million at a market cap of $120 million. The sole bookrunner for the offering is Keefe Bruyette Woods. Co-managers are Sandler O’Neill and Sterne Agee. Shares are scheduled to price on Tuesday and begin trading Wednesday on the Nasdaq under the ticker symbol AVNU.

Sol-Wind Renewable Power L.P. is a master limited partnership that plans to own, acquire, invest in and manage operating solar and wind power generation assets. The company plans to offer 8.7 million shares in an expected price range of $19 to $21 dollars, raising $174 million, against a market cap of about $200 million. Joint bookrunners for the offering include UBS Investment Bank, Citigroup, Wells Fargo Securities, Credit Suisse, Deutsche Bank and Macquarie Capital. Co-managers are Bonwick Capital, MFR Securities and Williams Capital Group. Shares are scheduled to price on Tuesday and begin trading Wednesday on the New York Stock Exchange under the ticker symbol SLWD.

Arowana Inc. is a blank-check company based in the Cayman Islands that intends to target acquisitions in the Asia-Pacific region, particularly Southeast Asia and Australia. The company is offering 6 million units at $10 per unit. Sole bookrunner for the offering is EarlyBirdCapital. Units are expected to begin trading on the Nasdaq under the ticker symbol ARWA, and rights and warrants will trade under the symbols ARWAR and ARWAW, respectively.

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Inovalon Holdings Inc. is a technology company offering a cloud-based analytics and data-driven intervention platform to improve clinical outcomes. The company plans to offer 22.2 million shares at an expected price range of $21 to $24 to raise $500 million at a market cap of $3.25 billion. Joint bookrunners include Goldman Sachs, Morgan Stanley, Citigroup, Bank of America Merrill Lynch and UBS Investment Bank. Co-managers are Piper Jaffray, Wells Fargo Securities and William Blair. Shares are scheduled to price on Wednesday and begin trading Thursday on the NASDAQ under the ticker symbol INOV.

Invitae Corp. plans to aggregate most of the world’s genetic tests into a single service. The company plans to offer 5.4 million shares at an IPO price range of $13 to $15, raising about $75 million at a market cap of $417 million. Sole bookrunner for the offering is J.P. Morgan. Co-managers are Cowen and Leerink Partners. Shares are scheduled to price on Wednesday and begin trading Thursday on the New York Stock Exchange under the ticker symbol NVTA.

Bellerophon Therapeutics LLC is a clinical stage therapeutics company developing treatments for cardiopulmonary and cardiac diseases. The company plans to offer 4 million shares in an expected price range of $14 to $16 to raise $60 million at a market cap of $178.5 million. Joint bookrunners for the offering are Leerink Partners and Cowen. Co-managers are FBR Capital Markets and Suntrust Robinson Humphrey. Shares are scheduled to price on Thursday and begin trading Friday on the Nasdaq under the ticker symbol BLPH.

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Great Ajax Corp. is a mortgage real estate investment trust (REIT). It plans to offer 5.8 million shares in an IPO range of $15 to $17 to raise $93.4 million at a market cap of about $260 million. Joint bookrunners are FBR Capital Markets, Sterne Agee and Nomura Securities. Co-managers are Ladenburg Thalmann and MLV. Shares are scheduled to price on Thursday and begin trading Friday on the New York Stock Exchange under the ticker symbol AJX.

The holdover that is waiting another week before trying again is Check-Cap Ltd., an Israel-based clinical stage medical diagnostics company engaged in the development of an ingestible imaging capsule that utilizes low-dose X-rays for colorectal cancer screening.

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