January 31, 2019 / 11:35 PM / 9 months ago

IFR Americas ECM Pipeline

NEW YORK, Jan 31 (IFR) - PRICED January 31 (AM): Pivotal Acquisition (US, SPAC) – $200m IPO. 20m units marketed at $10.00, with each unit comprised of one share, one warrant exercisable at $11.50. CANT. Sponsor to invest up to $150m in an acquisition. Gores Metropoulos (US, SPAC) – $375m IPO. 37.5m units at $10.00, with each unit comprised of one share, one-third warrant exercisable at $11.50. DB, CS, GS. CALENDAR January 31 (PM): Granite Point Mortgage Trust (US, Mortgage REIT) ­­– $114m Block. 6m shares (100% prim) at $19.00 fixed versus $19.52 last sale. MS, CITI, JPM, WF. Week of Feb 4: Monocle Acquisition (US, SPAC) – $150m IPO. 15m units (100% prim) at $10.00. Each unit comprised of one share, one warrant exercisable at $11.50. COWN, CHDN. Nasdaq “MNCL”. Delayed from 1/30. February 6: Alector (US, biotech) – $185m IPO. 9.3m shares (100% prim) at $18-$20. MS, BAML, COWN, BARC. Nasdaq “ALEC”. February 7: Gossamer Bio (US, biotech) – $230m IPO. 14.4m shares (100% prim) at $16.00 fixed. BAML, LEER, BARC, EVER. Nasdaq “GOSS”. Existing holders to purchase $100m of shares in offering. Accelerated pricing from 2/12. February 7: Harpoon Therapeutics (US, biotech) – $81m IPO. 5.4m shares (100% prim) at $13-$15. CITI, LEER. Nasdaq “HARP”. February 12: Virgin Trains USA (US, passenger rail transport) – $538.4 IPO. 28.3m shares (100% prim) at $17-$19. BARC, JPM, MS. Nasdaq “VTUS”. Virgin to invest in private placement for up to 2% of company, Fortress to buy undisclosed number of shares in IPO. (The daily IFR US ECM Briefing covers US, Canadian and LatAM IPOs, as well as secondary and convertible offerings. Reporting By Robert Sherwood) )

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