Investing

8 IPOs on the Calendar for Week of July 13

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The initial public offering (IPO) calendar heats up again in the week of July 13, with eight offerings scheduled to go off. Last week had no IPOs.

The second quarter was a good one for IPOs though. There were 70 IPOs in the period, and the monthly totals rose in each month. A total of 15 IPOs went off in April, 20 in May and 35 in June, the highest June total in nine years. A total of $12.7 billion in proceeds were raised from the quarter’s IPOs, more than double the $5.5 billion first-quarter total, and the median deal size was just over $100 million, well above the $82.3 million median in the first quarter.

Through the week ending July 10, IPO ETF manager Renaissance Capital reported that 105 IPOs have priced in the United States so far this year, down about 29% from a year ago. Total proceeds raised through June equaled $18.3 billion, down about 42% compared with the same period in 2014. Of the 105 IPOs that have gone off this year, 47 have come from the health care sector. Last year’s IPO total came in at $85.2 billion, the highest total in the past 10 years. Renaissance Capital does not include “best efforts” or blank check companies in its totals.

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This week eight firms are lined up to price and begin trading, including three health care companies, a China-based wealth management firm, a retail chain, a speedboat maker, a communications platform company and a cybersecurity provider.

BioCardia Inc. is a clinical-stage regenerative medicine company developing novel therapeutics for cardiovascular diseases. The company plans to offer 3.9 million shares in an expected price range of $12 to $14 a share to raise $50 million at a market cap of $145.6 million. Joint bookrunners for the offering are Cantor Fitzgerald, Roth Capital and Maxim Group. Shares are expected to price Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol BCDA.

Jupai Holdings Ltd. is a Shanghai-based wealth management firm offering services to high-net-worth individuals in China. The company plans to offer 5.9 million American depositary shares (ADSs) in an IPO price range of $10 to $12 per ADS to raise $64.5 million at a market cap of $322.7 million. Each ADS is equal to six ordinary shares. Joint bookrunners for the offering are Credit Suisse and China Renaissance. Shares are expected to price Wednesday and begin trading Thursday on the New York Stock Exchange under the ticker symbol JP.

Ollie’s Bargain Outlet Holdings Inc. is an extreme value retailer of brand name merchandise at drastically reduced prices. The company plans to offer 8.9 million shares in an expected price range of $13 to $15 a share, raising $125 million at a market cap of around $666 million. Joint bookrunners for the offering include JPMorgan, Jefferies, Bank of America Merrill Lynch, Credit Suisse and Piper Jaffray. Co-managers are KeyBanc Capital Markets and RBC Capital Markets. Shares are expected to price Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol OLLI.

ProNAi Therapeutics Inc. is a Canada-based clinical-stage oncology company pioneering a novel class of therapeutics based on a proprietary DNA interference (DNAi) technology platform. The company plans to offer 6.7 million shares in an expected price range of $14 to $16 a share to raise around $100 million at a market cap of $409.5 million. Joint bookrunners for the offering are Jefferies and Merrill Lynch. Co-managers are Wedbush PacGrow and SunTrust Robinson Humphrey. Shares are expected to price Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol DNAI.

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Chiasma Inc. is a late-stage biopharmaceutical company developing and commercializing novel oral forms of therapies for orphan diseases. The company plans to offer 5.4 million shares in an IPO price range of $13 to $15 a share, raising $75 million at a market cap of $307.6 million. Joint bookrunners for the offering are Barclays and Cowen. Co-managers are William Blair and Oppenheimer. Shares are expected to price Thursday and begin trading Friday on the Nasdaq under the ticker symbol CHMA.

MCBC Holdings Inc. is a designer, manufacturer and marketer of premium performance sport boats. The company plans to offer 6.1 million shares in an expected price range of $13 to $15 a share to raise $85 million at a market cap of $211.1 million. Joint bookrunners for the offering are Baird, Raymond James and Wells Fargo Securities. Co-managers are KeyBanc Capital Markets and Wunderlich Securities. Shares are expected to price Thursday and begin trading Friday on the Nasdaq under the ticker symbol MCFT.

Ooma Inc. is a communications solutions provider for small business, home and mobile users. The company plans to offer 5 million shares in an expected price range of $16 to $18 to raise $85 million at a market cap of $286.1 million. Joint bookrunners for the offering are Credit Suisse, Merrill Lynch and JMP Securities. Co-managers are William Blair and Wunderlich Securities. Shares are expected to price Thursday and begin trading Friday on the New York Stock Exchange under the ticker symbol OOMA.

Rapid7 Inc. is a security data and analytics platform company that offers an active, analytics-driven approach to cybersecurity. The company plans to offer 6.5 million shares in an IPO price range of $13 to $15 a share, raising about $90 million at a market cap of $533.5 million. Joint bookrunners are Morgan Stanley and Barclays. Co-managers include Pacific Crest, William Blair, Raymond James and Cowen. Shares are expected to price Thursday and begin trading Friday on the Nasdaq under the ticker symbol RPD.

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