May 1, 2018 / 5:21 PM / 7 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:

** 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 1: Centene Corporation (US, healthcare) – $2.6bn FO. Shs TBD (100% prim) vs $110.17 last sale @ launch. BARC, CITI, WF, EVER, STRH

** 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 2: Gardner Denver (US, industrial equip) – $700m FO. 22.1m shs (100% sec) vs $31.63 last sale @ launch. GS, CITI, KKR

** May 2: Sientra (US, medical devices) – $75m FO. Shs TBD (100% prim) vs $13.52 last sale at file. STFL, CGEN, WMB

** 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 3: BayCom (US, regional bank) – $52 IPO. 2.3m sh (100% prim), range $21-$23. FIG, DAD. Nasdaq “BCML”

** May 8: Evelo Biosciences (US, biotech) – $87m IPO. 5.1m shs (100% prim), range $15-$17. MS, COWN, BMO. Nasdaq “EVLO”

** May 8: Origin Bancorp (US, community bank) – $90m IPO. 3.64m shs (100% prim), range $33-$35. STPH, RJ

** 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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