April 26, 2018 / 5:10 PM / 6 months ago

BUZZ-IFR's upcoming US IPOs, follow-ons + convertibles

Near term pipeline of notable IPOs, follow-ons and convertible offerings, from IFR and other sources:

** Apr 26: DocuSign (US, e-signatures) – $607m IPO. 21.7m shs (74% prim), range $26-$28. MS, JPM. Price range increased from $24-$26

** Apr 26: Goosehead Insurance (US, insurance) – $137m IPO. 8.5m shs (100% prim), range $14-$16. JPM, BAML

** Apr 26: Smartsheet (US, software) – $163m IPO. 11.6m shs (86% prim), range $12-$14. MS, JPM, JEFF, RBC. Price range increased from $10-$12

** May 1: PermRock Royalty Trust (US, E&P royalty trust) - $131m IPO. 6.25m units (100% prim), range $19-$21. WF, GS, UBS, DB, JEFF, STIF, OPP

** May 2: Aslan Pharmaceuticals (Taiwan, biotech) – $60m IPO. 7.5m ADS (100% prim) vs adj $8.05 per ADS. LEER, PJ

** May 2: Unity Biotechnology (US, biotech) – $90m IPO. 5m shs (100% prim), range $16-$18. GS, MS, CITI, MZHO

** May 2: Inspire Medical Systems (US, medical devices) – $80m IPO. 5m shs 100% prim), range $14-$16. BAML, GS

** May 3: Carbon Black (US, cybersecurity) – $136m IPO. 8m shs (100% prim), range $15-$17. MS, JPM

** May 3: Construction Partners (US, construction) – $191 IPO. 11.25m shs (60% prim), range $15-$17. BAIRD, RJ, STPH. Nasdaq “ROAD”

** May 9: AXA Equitable (US, insurance) - Combined $4.5bn IPO & CVT. $3.7bn IPO, 137.25m shs (100% sec), range $24-$27. NYSE “EQH”; $750m 3-yr mand exhangeable bonds, px talk 6.75%-7.25%, up 17.5-22.5%. MS, JPM, BARC, CITI

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