Even as markets have pulled back slightly from their new highs, more companies are considering entering the market. Generally speaking, a rising tide will lift all the boats, which does in fact help companies raise their valuations for how much money they can get in their initial public offerings (IPO).
There have been an increased number of filings with the U.S. Securities and Exchange Commission (SEC) after the markets have hit new highs. However, it seems that most of these companies are testing the waters for now. After the inauguration we might have a better idea of which companies are coming up on the 2017 IPO calendar.
Most of these companies that filed for IPO noted that they would be using their proceeds for working capital and general corporate purposes. Some would use the proceeds to repay their indebtedness, while others would use the proceeds to further develop their business or pipeline.
Foundation Building Materials values its IPO up to $100 million, although it has not yet released any pricing details. The firm intends to list its shares on the New York Stock Exchange under the symbol FBM. The underwriters for the offering are Deutsche Bank, Barclays, RBC Capital, Citigroup, Baird, Raymond James, Stephens, SunTrust Robinson Humphrey and William Blair.
This company is the second largest specialty distributor of wallboard and suspended ceiling systems in the United States and Canada, as well as the fastest growing by revenue and branch count since its founding in 2011. The company is also the second largest specialty distributor and one of the largest fabricators of commercial and industrial mechanical insulation in the United States. Net sales in 2013 were $113.7 million, and Foundation reached pro forma net sales of $1.42 billion for the nine months ended September 30, 2016.
Visterra has an expected price range for its 3.85 million shares of $12 to $14 per share. At the maximum price the entire offering is valued up to $53.9 million. The company intends to list its shares on the Nasdaq under the symbol VIST, and the underwriters are Leerink Partners, Needham, Stifel and Wedbush PacGrow.
This clinical-stage biopharmaceutical company is focused on applying its novel Hierotope platform to identify unique disease targets and to design and engineer precision antibody-based biological medicines for infectious and noninfectious diseases. The platform also enables the firm to design and engineer antibody-based biological product candidates for the treatment of noninfectious diseases that are not being adequately addressed with conventional treatment approaches.
Jeld-Wen Holding expects to price its 25.0 million shares in the range of $21 to $23 per share, with an overallotment option for an additional 3.75 million shares. At the maximum price, the entire offering is valued up to $661.25 million. Jeld-Wen intends to list its shares on the New York Stock Exchange under the symbol JELD. The underwriters are Barclays, Citigroup, Credit Suisse, JPMorgan, Deutsche Bank, RBC Capital, Merrill Lynch, Goldman Sachs, Wells Fargo, Baird, FBR and SunTrust Robinson Humphrey.
This is one of the world’s largest door and window manufacturers, and it holds the top position by net revenues in the majority of the countries and markets that it serves. Jeld-Wen designs, produces and distributes an extensive range of interior and exterior doors, wood, vinyl and aluminum windows, and related products for use in the new construction and repair and remodeling of residential homes and, to a lesser extent, nonresidential buildings.
Jounce Therapeutics has filed an amended S-1 form with the SEC for its IPO. It now expects to price its 5.36 million shares in the range of $13 to $15 per share, with an overallotment option for an additional 804,000 shares. At the maximum price, the entire offering is valued up to $92.46 million. Jounce intends to list its stock on the Nasdaq under the symbol JNCE, and the underwriters for the offering are JPMorgan, Cowen, Wells Fargo and Baird.
This clinical stage immunotherapy company is dedicated to transforming the treatment of cancer by developing therapies that enable the immune system to attack tumors and provide long-lasting benefits to patients. Through the use of its Translational Science Platform, Jounce first focuses on specific cell types within tumors to prioritize targets and then identify related biomarkers designed to match the right therapy to the right patient.
REV Group has announced the potential price range for its IPO. Its 12.5 million shares will price in the range of $19 to $21 per share, with an overallotment option for an additional 1.875 million shares. At the $21 price, the entire offering is valued up to $301.875 million. The company expects to list its shares on the New York Stock Exchange under the symbol REVG. The underwriters are Goldman Sachs, Morgan Stanley, Baird, BMO Capital Markets, Credit Suisse, Deutsche Bank, Jefferies, Wells Fargo and Stifel.
This is a leading designer, manufacturer and distributor of specialty vehicles and related aftermarket parts and services. It serves a diversified customer base, primarily in the United States, through three segments: Fire & Emergency, Commercial and Recreation. It provides customized vehicle solutions for applications including: essential needs (ambulances, fire apparatus, school buses, mobility vans and municipal transit buses), industrial and commercial (terminal trucks, cut-away buses and street sweepers) and consumer leisure (recreational vehicles and luxury buses).
Keane Group expects to price its 22.3 million shares in the range of $17 to $19 per share, with an option for an additional 3.345 million shares. Altogether, the offering is valued up to $487.255 million at the maximum price. The company intends to list its shares on the New York Stock Exchange under the symbol FRAC. Citigroup, Morgan Stanley, Merrill Lynch, JPMorgan, Wells Fargo, Simmons, Houlihan Lokey, Guggenheim, Scotia Howard Weil and Stephens are the listed underwriters for the offering.
Keane is one of the largest pure-play providers of integrated well completion services in the United States, with a focus on complex, technically demanding completion solutions. Its primary service offerings include horizontal and vertical fracturing, wireline perforation and logging and engineered solutions, as well as other value-added service offerings. With approximately 944,250 hydraulic horsepower spread across 23 hydraulic fracturing fleets and 23 wireline trucks located in the Permian Basin, the Marcellus Shale/Utica Shale, the SCOOP/STACK Formation, the Bakken Formation and other active oil and gas basins, Keane provides industry-leading completion services with a strict focus on health, safety and environmental stewardship and cost-effective customer-centric solutions.
The expected price range for Laureate Education’s IPO of 29.0 million shares is $17 to $20. There is an overallotment option for an additional 4.35 million shares. At the $20 price, the entire offering is valued up to $667.0 million. The company expects to list its shares on the Nasdaq under the symbol LAUR, and the underwriters are Credit Suisse, Morgan Stanley, Barclays, Macquarie Capital, JPMorgan, BMO Capital Markets, Citigroup, Goldman Sachs, Baird, Barrington Research, Piper Jaffray, Stifel, William Blair, Bradesco BBI and BTG Pactual.
This is the largest global network of degree-granting higher education institutions, with more than a million students enrolled at its 71 institutions in 25 countries on more than 200 campuses. Laureate participates in the global higher education market, which was estimated to account for revenues of approximately $1.5 trillion in 2015, according to GSV Advisors.
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