Investing

IPO Calendar Fills Up with 15 Offerings This Week

CNX Coal Resources L.P. is a growth-oriented master limited partnership recently formed by CONSOL Energy Inc. (NYSE: CNX) to manage and further develop all of its active thermal coal operations in Pennsylvania. The MLP plans to offer 10 million shares in a price range of $19 to $21, raising $200 million at a market cap of $232 million. Joint bookrunners for the offering include Bank of America Merrill Lynch, Wells Fargo Securities, Citi, Jefferies, Scotiabank/Howard Weil, Credit Suisse, JPMorgan, Evercore Partners, BB&T Capital Markets, Goldman Sachs, Huntington Investment, Stifel, and Nomura Securities. Co-managers include Clarkson Capital Markets, Cowen and Tuohy Brothers. Shares are expected to price on Wednesday and begin trading Thursday on the New York Stock Exchange under the ticker symbol CNXC. We have also taken a closer look at this IPO.

Gener8 Maritime Inc. is a leading U.S.-based provider of international seaborne crude oil transportation services. The company plans to offer 15 million shares in an expected price range of $17 to $19 to raise $270 million at a market cap of $1.44 billion. Joint bookrunners for the offering are Citi, UBS Investment Bank, Jefferies and Evercore Partners. Co-managers include DNB Markets, SEB, DVB Capital Markets, ABN AMRO, Pareto Securities and Axia. Shares are scheduled to price on Wednesday and begin trading Thursday on the New York Stock Exchange under the ticker symbol GNRT.

Glaukos Corp. is an ophthalmic medical technology company focused on the development and commercialization of products and procedures to treat glaucoma, one of the world’s leading causes of blindness. The company plans to offer 5.4 million shares in an expected price range of $13 to $15, raising $75 million at a market cap of around $416 million. Joint bookrunners for the offering are JPMorgan, Merrill Lynch and Goldman Sachs. Co-managers are William Blair and Cantor Fitzgerald. Shares are scheduled to price on Wednesday and begin trading Thursday on the New York Stock Exchange under the ticker symbol GKOS.

Lantheus Holdings Inc. develops, manufactures, sells and distributes diagnostic medical imaging agents and products to assist clinicians in the diagnosis of cardiovascular and other diseases. The company plans to offer 7.9 million shares in an IPO price range of $8.50 to $10.50 to raised $75 million at a market cap of $251 million. Joint bookrunners for the offering are Credit Suisse, Jefferies, RBC Capital Markets and Wells Fargo Securities. Co-manager is Baird. Shares are scheduled to price on Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol LNTH.

Milacron Holdings Corp. manufactures, distributes and services highly engineered and customized plastic technology and processing systems. The company plans to offer 14.3 million shares in an expected price range of $20 to $22, raising $300 million at a market cap of about $1.4 billion. Joint bookrunners for the offering are Merrill Lynch, Barclays, JPMorgan, Baird, Credit Suisse and Goldman Sachs. Co-managers are KeyBanc Capital Markets and William Blair. Shares are scheduled to price on Wednesday and begin trading Thursday on the New York Stock Exchange under the ticker symbol MCRN.

TransUnion is a global risk and information solutions provider, best known for its consumer credit reporting.  The company plans to offer 29.6 million shares in an expected price range of $21 to $23, raising $650 million at a market cap of $3.9 billion. Joint bookrunners for the offering include Goldman Sachs, JPMorgan, Merrill Lynch, Deutsche Bank, RBC Capital Markets, Wells Fargo Securities and Credit Suisse. Co-managers include Drexel Hamilton, Evercore Partners, Loop Capital Markets and Stifel. Shares are scheduled to price on Wednesday and begin trading Thursday on the New York Stock Exchange under the ticker symbol TRU.

Wayne Farms Inc. is the sixth largest integrated producer and processor of broiler chickens in the United States. The company plans to offer 12.8 million shares in an expected price range of $18 to $20 to raise $23.6 million at a market cap of about $1.02 billion. Joint bookrunners for the offering are Citi, JPMorgan, and BMO Capital Markets. Co-managers include Stephens Inc., Wells Fargo Securities, BB&T Capital Markets, and Rabo Securities. Shares are scheduled to price on Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol WNFM.

Alarm.com Holdings Inc. is a cloud-based platform solution for the connected home. The company plans to offer 7 million shares in an IPO price range of $13 to $15, raising $98 million at a market cap of about $628 million. Joint bookrunners for the IPO are Goldman Sachs, Credit Suisse, and BofA/Merrill Lynch. Co-managers include Stifel, Raymond James, William Blair, and Imperial Capital. Shares are scheduled to price on Thursday and begin trading Friday on the Nasdaq under the ticker symbol ALRM.

AppFolio Inc. provides cloud-based software solutions for small and medium-sized businesses in the property management and legal industries. The company plans to offer 6.2 million shares in an expected range of $12 to $14 to raise about $80.6 million at a market cap of $420 million. Joint bookrunners for the offering are Morgan Stanley and Credit Suisse. Co-managers are Pacific Crest and William Blair. Shares are scheduled to price on Thursday and begin trading Friday on the Nasdaq under the ticker symbol APPF.

Green Plains Partners LP is a master limited partnership recently formed by Green Plains Inc. (NASDAQ: GPRE) to own, operate, develop and acquire ethanol and fuel storage tanks, terminals, transportation assets and other related assets and businesses. The company plans to offer 10 million common units in an IPO price range of $19 to $21 to raise $200 million at a market cap of about $318 million. Joint bookrunners for the offering are Barclays, BofA/Merrill Lynch, Credit Suisse, Macquarie Capital, and RBC Capital Markets. Co-managers include Raymond James, Stephens Inc., and Stifel. Shares are scheduled to price on Thursday and begin trading Friday on the Nasdaq under the ticker symbol GPP.

Seres Therapeutics Inc. is a microbiome therapeutics platform company developing a novel class of biological drugs. The company plans to offer 6.3 million shares in an expected price range of $15 to $17, raising $100 million at a market cap of about $582 million. Joint bookrunners for the offering are Goldman Sachs and BofA/Merrill Lynch. Co-managers are Leerink Partners and Canaccord Genuity. Shares are scheduled to price on Thursday and begin trading Friday on the Nasdaq under the ticker symbol MCRB.

Xactly Corp. is a provider of enterprise-class, cloud-based, incentive compensation solutions for employee and sales performance management. The company plans to offer 7 million shares in an expected price range of $10 to $12 to raise about $77 million at a market cap of $304.7 million. Joint bookrunners for the offering are J.P. Morgan, Deutsche Bank, and UBS Investment Bank. Co-managers are Needham & Co. and Oppenheimer & Co. Shares are scheduled to price on Thursday and to begin trading Friday on the New York Stock Exchange under the ticker symbol XTLY.

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