According to Renaissance Capital, 223 IPOs have priced in the United States so far this year, up 35% from a year ago. Total proceeds raised come to $72.1 billion, up about 98% from 2013. In the month of September, IPO proceeds totaled $28.5 billion, of which about $22 billion is down to Alibaba Group Holding Ltd. (NYSE: BABA). Last week’s IPOs added $1.1 billion to the October total of $3.1 billion. The 2013 IPO total came in at $54.9 billion, the highest total in the past 10 years, and that has already been surpassed with more than three months left in 2014.
Viking Therapeutics Inc., which has been held over once again, 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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The new IPO offerings this week begin with Dominion Midstream Partners L.P., an MLP spun out of Dominion Resources Inc. (NYSE: D) to include all the outstanding preferred equity interests in the Cove Point LNG import and regasification plant on Maryland’s Chesapeake Bay coast and a 136-mile pipeline that connects the Cove Point plant to onshore interstate pipelines. Dominion received federal approval to build and operate the plant in late September. The MLP plans to offer 17.5 million common units in a price range of $19 to $21 to raise $350 million at a market cap of around $1.68 billion. Underwriters include Barclays, Citigroup, J.P. Morgan, Bank of America Merrill Lynch, Goldman Sachs, UBS Investment Bank, Morgan Stanley, RBC Capital Markets and Scotiabank/Howard Weil. The partnership units are expected to price on Tuesday and begin trading Wednesday on the New York Stock Exchange under the ticker symbol DM.
Forward Pharma A/S is a Denmark-based biopharmaceutical company that is preparing to launch a Phase 3 clinical trial of a treatment for multiple sclerosis. The company plans to offer 9.5 million American Depositary Shares (ADSs) in a price rage of $20 to $22 to raise $200 million at a market value of around $942 million. Each ADS is equal to one ordinary share. Underwriters are Leerink Partners, Jefferies, RBC Capital Markets and JMP Securities. The ADSs are expected to price on Tuesday and begin trading Wednesday on the Nasdaq under the ticker symbol FWP.
Great Western Bancorp Inc. is a regional bank holding company based in Sioux Falls, S.D. The bank plans to offer 16 million shares in a price range of $21 to $24 to raise $360 million at a market value of about $1.3 billion. Underwriters include Deutsche Bank, Merrill Lynch, Keefe Bruyette Woods, RBC Capital Markets Sandler O’Neill, Macquarie Capital and Sterne Agee. The shares are expected to price on Tuesday and begin trading Wednesday on the New York Stock Exchange under the ticker symbol GWB.
Hydra Industries Acquisition Corp. is a blank-check company. The company plans to offer 10 million shares at $10 per share. UBS Investment Bank is managing the IPO and EarlyBirdCapital is co-manager. Trading is expected to begin Wednesday on the Nasdaq under the ticker symbol HDRAU. The amended Form S-1 filing contains further details on the IPO.
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Atara Biotherapeutics Inc. is a clinical-stage biopharmaceutical company working on novel therapeutics for serious unmet medical needs with a focus on muscle wasting conditions and oncology. The firm plans to offer 5 million shares in an IPO price range of $14 to $16, raising $75 million at a market cap of $291 million. Underwriters are Goldman Sachs, Citigroup and Jefferies. Shares are expected to price on Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol ATRA. Atara originally set terms for an IPO in July, but postponed to wait for pending clinical trial data.
Virobay Inc. is a clinical-stage pharmaceutical company that is currently working on a treatment for neuropathic pain and other diseases. The company plans to offer 3.9 million shares in an expected price range of $12 to $14 to raise $50 million at a market value of $169 million. Underwriters include Piper Jaffray, JMP Securities, Cantor Fitzgerald and Summer Street Research Partners. Shares are expected to price on Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol VBAY.
Xenon Pharmaceuticals Inc. is a Canada-based clinical-stage biopharmaceutical company that is using its own core enabling discovery platform to develop therapeutics for a range of diseases. The company plans to offer 4 million shares in an IPO price range of $10 to $12, raising $44 million at a market cap of about $150 million. Underwriters are Jefferies, Wells Fargo Securities and Canaccord Genuity. Shares are scheduled to price on Thursday and begin trading Friday on the Nasdaq under the ticker symbol XENE.
Zayo Group Holdings Inc. is a Internet bandwidth infrastructure provider in the United States and Europe whose key products include leased dark fiber, fiber to cellular towers and small cell sites, dedicated wavelength connections, Ethernet and IP connectivity and other high-bandwidth offerings. The company plans to offer 28.9 million shares in an IPO price range of $21 to $24, raising $650.3 million at a market cap of $5.27 billion. Underwriters include Morgan Stanley, Barclays, Goldman Sachs, RBC Capital Markets, Citigroup, Suntrust Robinson Humphrey, Cowen, Oppenheimer, Raymond James, Stephens, Wells Fargo Securities and William Blair. Shares are expected to price on Thursday and begin trading Friday on the New York Stock Exchange under the ticker symbol ZAYO.
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