July 17, 2018 / 5:30 PM / 3 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:

** Jul 17: Crinetics Pharmaceuticals (US, biotech) – $85m IPO. 5m shs (100% prim), range $15-$17. JPM, LEER, PJ

** Jul 17: Rubius Therapeutics (US, biotech) – $210m IPO. 9.53m shs (100% prim), range $20-$22. JPM, MS, JEFF, LEER. Accelerated from Jul 18

** Jul 17: CalAmp (US, telecom equipment svcs) – $200m CVT. 7-yr cvt notes, px talk 1.5%-2%, up 30%-35%. JPM, GS, JEFF

** Jul 17: Encore Capital Group (US, specialty finance) – $150m CVT. 5-yr conv notes, px talked %-4.5%, up 25%-30%. SUNT, CS

** Jul 17: NanoString Technologies (US, diagnostics) –$50m FO. Shs TBD (100% prim) vs $15.10 last sale @ launch. JPM, UBS

** Jul 18: AFG (US, E&P equipment) – $328m IPO. 18.2m shs (30% prim), range $15-$18. GS, CS, SIMM, BARC, EVER, UBS, WF

** Jul 18: Allakos (US, biotech) – $102m IPO. 6m shs (100% prim), range $15-$17. GS, JEFF

** Jul 18: Constellation Pharmaceuticals (US, biotech) – $85m IPO. 5.34m shs (100% prim), range $14-$16. JPM, JEFF, BMO

** Jul 18: Establishment Labs (British Virgin Islands, medtech) – $53m IPO. 3.13m shs (100% prim), range $15-$17. JEFF, COWN. Nasdaq “ESTA”

** Jul 18: Tilray (US/Canada, medical cannabis cultivation) – $144m IPO. 9m shs (100% prim), range $14-$16. COWN, ROTH, NORTH. Includes Canadian offering

** Jul 18: First Western Financial (US, bank) - $39m IPO. 1.85m shs (81% prim), range $19-$21. KBW, STEPH, SAND

** Jul 18: Carbonite (US, data services) – $174m FO. 4.52m shs (88% prim) vs $38.40 last sale @ launch. BARC, JEFF, RBC

** Jul 18: Evolus (US, biotech) – $130m FO. 5m shs (50% prim) vs $26.17 last sale @ launch. CNTR, MIZU

** Jul 18: Redfin (US, online real estate broker) – $200m combined FO & CVT. 3.5m shs (100% prim) vs $23.99 last sale @ launch. $125m 5-yr cvt notes, px talk 1.75%-2.25%, up 27.5%-32.5%. GS, BAML, RBC

** Jul 19: Replimune (US, biotech) – $107m IPO. 6.7m shs (100% prim), range $14-$16. JPM, LEER, BMO. Nasdaq “REPL”

** Jul 24: Bloom Energy (US, fuel cells) – $270m IPO. 18m shs (100% prim), range $13-$15. JPM, MS, CS, KEYB, BAML. NYSE “BE”

** Jul 25: Aurora Mobile (China, mobile apps) − $126m IPO. 12m ADSs (100% prim), range $8.50-$10.50. GS, CS, DB

** Jul 25: Berry Petroleum (US, E&P) – $319m IPO. 18.75m shs (65% prim), range $15-$17. GS, WF, BMO, EVER, UBS

** Jul 25: Cango (China, car e-commerce) – $150m IPO. 12.5m ADSs (100% prim), range $10-$12. MS, BAML, GS. NYSE “CANG”

** Jul 25: Focus Financial Partners (US, financial services) – $630m IPO. 16.2m shs (100% prim), range $35-$39. GS, BAML, KKR, BMO, RBC, SUNT

** Jul 25: Liquidia Technologies (US, biotech) – $55m IPO. 4.5m shs (100% prim), range $10-$12. JEFF, COWN

** Jul 25: Tenable (US, cybersecurity) – $175m IPO. 9.2m shs (100% prim), range $17-$19. MS, JPM, ALLN, DB

** Jul 25: Pinduoduo (China, e-commerce) – $1.63bn IPO. 85.6m ADSs (100% prim), range $16-$19. CS, GS, CICC, CREN. Nasdaq “PDD”

** Jul 26: Endava (UK, tech services) – $106m IPO. 5.6m ADSs (51% prim), range $17-$19. MS, CITI, CS, DB. NYSE “DAVA”

** Jul 26: Opera Ltd (Norway, internet browser) – $115m IPO. 9.6m ADSs (100% prim), range $10-$12. CICC, CITI

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