IPO News This Week: A Record 12 IPOs Coming to Market

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Last week’s initial public offering (IPO) calendar included 10 firms looking to enter the public markets. All were successful and raised a total of around $1.3 billion in new capital, about $100 million less than planned. The coming week includes a record-setting 12 scheduled IPO’s looking to raise about $2.8 billion in new capital.

Three of last week’s IPOs were blank-check companies: Twelve Seas Investment Co. (NASDAQ: TWLVU); Thunder Bridge Acquisition (NASDAQ: TBRGU); and LF Acquisition Corp. (NASDAQ: LFACU). These firms are not included in the overall count. Here are the other 10.

AVROBIO Inc. (NASDAQ: AVRO) raised $100 million in an upsized offering of 5.2 million shares priced at $19, above the expected range of $16 to $18. Shares got a first-day pop of 64% and closed the week up 62%.

Autolus Therapies Inc. (NASDAQ: AUTL) raised $150 million in an upsized offering of 8.8 million shares priced at $17, the high end of the expected range. Shares got a first-day pop of $47 on the Friday IPO.

I3 Verticals Inc. (NASDAQ: IIIV) raised $86 million selling 6.7 million shares at $13, the high end of the expected range. Shares got a first-day pop of 41% and closed the week up 33%.

Electrocore LLC (NASDAQ: ECOR) raised $78 million in an upsized offering of 5.2 million shares priced at $15, the midpoint of the expected range. Shares got a 32% first-day pop on the Friday offering.

Eidos Therapeutics Inc. (NASDAQ: EIDX) raised $106 million selling 6.3 million shares at $17, the midpoint of the expected range. Shares got a first-day pop of 36% and closed the week up 29%.

Xeris Pharmaceuticals Inc. (NASDAQ: XERS) raised $86 million in an upsized offering of 5.7 million shares priced at $15, the midpoint of the range. Shares got a first-day pop of 35% and closed the week up 25%.

Aptinyx Inc. (NASDAQ: APTX) raised $102 million in an upsized offering of 6.4 million shares priced at $16, the high end of the expected range. Shares got a first-day pop of 26% and closed the week up 25%.

Kezar Life Sciences Inc. (NASDAQ: KZR) raised $75 million in an upsized offering of 5 million shares priced at $15, the midpoint of the range. The stock got a first-day pop of 18% and closed the week up 19%.

Essential Properties Investment Trust Inc. (NYSE: EPRT) raised $455 million selling 32.5 million shares at $14, the low end of the expected range. Shares dipped 3% on the Friday IPO.

Magenta Therapeutics Inc. (NASDAQ: MGTA) raised $100 million by selling 6.7 million shares at $15, the midpoint of the expected range. Shares also dipped 3% on the Friday IPO.

Through the week ending June 22, IPO ETF manager Renaissance Capital reported that 93 IPOs have priced in the U.S. so far this year, up 35% year over year. Total proceeds raised through last week equaled $26.3 billion, up about 33% year over year.

For 2017, Renaissance Capital reported a total of 160 IPOs, up 52% year over year from 105 in 2016. Total 2017 proceeds amounted to $35.5 billion compared with a 2016 total of $18.8 billion. Renaissance Capital does not include “best efforts” or blank-check companies in its totals, nor does it include IPOs that raise less than $10 million.

Here are the 12 companies planning to tap the capital markets this week.

Neon Therapeutics Inc. is a clinical-stage immuno-oncology company developing a targeted immunotherapy platform for various cancers. The company plans to offer 6.25 million shares in an expected price range of $15 to $17 to raise $100 million at a market cap of $474 million. Underwriters are Morgan Stanley, BofA/Merrill Lynch, Mizuho Securities, and Oppenheimer & Co. Shares are scheduled to price Tuesday and begin trading Wednesday on the Nasdaq under the ticker symbol NTGN.

Uxin Ltd. is a Beijing-based online used-car marketplace for businesses and consumers in China. The company plans to offer 38 million American Depositary Shares (ADS) in an expected price range of $10.50 to $12.50 to raise $437 million at a market cap of $3.74 billion. Each ADS represents three ordinary shares. Underwriters are Morgan Stanley, Goldman Sachs (Asia), J.P. Morgan, CICC, and China Renaissance. Shares are scheduled to price Tuesday and begin trading Wednesday on the Nasdaq under the ticker symbol UXIN.

BJ’s Wholesale Club Holdings Inc. is a warehouse membership club with 215 locations in the eastern United States. The company plans to offer 37.5 million shares in an expected price range of $15 to $17 to raise $600 million at a market cap of $2.12 billion. Underwriters include BofA/Merrill Lynch, Deutsche Bank, Goldman Sachs, J.P. Morgan, Morgan Stanley, Citi, Jefferies, Wells Fargo Securities, Nomura Securities, Baird, Guggenheim Securities, Natixis, William Blair, and Siebert Cisneros Shank & Co. Shares are scheduled to price Wednesday and begin trading Thursday on the New York Stock Exchange under the ticker symbol BJ.