IPO ETF manager Renaissance Capital reported that 271 IPOs have priced in the United States so far this year, up nearly 23% from a year ago. Total proceeds raised come to $84.2 billion, up more than 54% from 2013. The 2013 IPO total came in at $54.9 billion, the highest total in the past 10 years.
S1 Biopharma Inc., a clinical-stage biopharmaceutical company focused on the development and commercialization of novel, first-in-class therapies for female sexual dysfunction, will try again to sell shares in the coming week. The company plans to offer 1.8 million units, which include one common share plus one Series A and one Series B warrant, in an IPO price range of $12 to $14 to raise about $23 million at a market cap of around $119 million. The sole bookrunner is MLV & Co. Shares have no scheduled pricing date other than the week of December 15, and they will be traded on the Nasdaq under the ticker symbol SXB.
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The IPO that was postponed from last week was Polar Star Realty Trust Inc., a Maryland-based corporation that acquires, owns, leases and manages office and industrial properties primarily in the Nordic countries of Norway, Sweden and Denmark. The company planned to offer 43.5 million shares in an IPO price range of $10 to $13 to raise $500 million on a market cap of around $800 million. Joint bookrunners for the IPO were FBR Capital Markets, Wunderlich Securities and ABG Sundal Collier. No further plans have been announced.
On Deck Capital Inc. offers an online small-business lending platform. The company plans to offer 10 million shares in an IPO price range of $16 to $18 to raise $170 million at a market cap of around $1.3 billion. Joint bookrunners for the offering are Morgan Stanley, Bank of America Merrill Lynch, J.P. Morgan, Deutsche Bank and Jefferies. Co-managers are Raymond James, Stifel and Needham. The shares are scheduled to price on Tuesday and begin trading Wednesday on the New York Stock Exchange (NYSE) under the ticker symbol ONDK.
Rice Midstream Partners L.P. is a natural gas gathering and compression provider in the Marcellus shale play in the Appalachian Basin. The master limited partnership (MLP) was formed by Rice Energy Inc. (NYSE: RICE) and plans to offer 25 million limited partnership units at an IPO price of $19 to $21. The new company would raise $500 million at the midpoint of its expected range, and the market value would be about $1.2 billion. The joint bookrunners are Barclays, Citigroup, Wells Fargo Securities, Goldman Sachs and RBC Capital Markets. Co-managers include Tudor, Pickering, Holt & Co., BMO Capital Markets, Capital One Securities, Comerica Securities, Scotiabank/Howard Weil, Suntrust Robinson Humphrey, U.S. Capital Advisors and Janney Montgomery Scott. Shares are scheduled to price on Tuesday and to begin trading Wednesday on the NYSE under the ticker symbol RMP.
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Bellicum Pharmaceuticals Inc. is a clinical stage biopharmaceutical company focused on discovering and developing novel cancer therapies and orphan inherited blood disorders. The company plans to offer 6.3 million shares in a price range of $15 to $17, raising $100 million at a market cap of about $397 million. Joint bookrunners for the offering are Jefferies, Citigroup and Piper Jaffray. Trout Capital is co-manager. The IPO is scheduled to price on Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol BLCM.
Juno Therapeutics Inc. is a fully integrated biopharmaceutical company working on a way to reengage the body’s immune system to treat cancer. The company plans to offer 9.3 million shares in an IPO price range of $15 to $18, raising about $153 million at a market value of about $1.26 billion. Joint bookrunners for the offering are Morgan Stanley, J.P. Morgan and Goldman Sachs. Leerink Partners is the sole co-manager. Shares are expected to price on Thursday and begin trading Friday on the Nasdaq under the ticker symbol JUNO.
Finally, an uplisting that we don’t count as an IPO, but that deserves noting. First Guaranty Bancshares Inc., a Louisiana bank with 21 branches and $1.5 billion in assets, is planning to file for an uplisting IPO. The bank currently trades on the OTCQB and plans to offer 4.6 million shares at a price between $19 and $21. Raymond James is the sole bookrunner, and Keefe Bruyette Woods and Sterne Agee are co-managers. There is no scheduled date for the offering other than the week of December 15. Once launched, the shares will trade on the Nasdaq under the ticker symbol FGBI.
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