06.22.20: Monday Morning IPO Launch Party

The IPO launch party is up and at it early on a Monday morning. In this club we serve up hot coffee and equity offerings.

So far this morning a trio of biotech offerings launched: Fusion Pharmaceuticals (FUSN), Akouos Inc (AKUS) and PolyPid Ltd. (PYPD)

Company: Akouos, Inc.
Symbol: AKUS
Description: They are a precision genetic medicine company dedicated to our mission of developing gene therapies with the potential to restore, improve, and preserve high-acuity physiologic hearing for people worldwide who live with disabling hearing loss.
Shares: 8.33 million
Price Range: $16.00-$18.00
Market Cap: $453m-$510m
Trade Date: Friday, 6/26
Underwriter(s): BofA Securities, Cowen, Piper Sandler
Co-Manager: BTIG
Terms Added: 6-22-20

Company: Fusion Pharmaceuticals Inc.
Symbol: FUSN
Description: They are a clinical-stage oncology company focused on developing next-generation radiopharmaceuticals as precision medicines.
Shares: 8.35 million
Price Range: $14.00-$16.00
Market Cap: $525m-$600m
Trade Date: Friday, 6/26
Underwriter(s): Morgan Stanley, Jefferies, Cowen
Co-Manager: Wedbush PacGrow
Terms Added: 6-22-20
5% Buying by Insiders, Directors, Employees

Company: PolyPid Ltd.
Symbol: PYPD
Description: They are a Phase 3 clinical-stage biopharmaceutical company focused on developing targeted, locally administered and prolonged-release therapeutics using our proprietary Polymer-Lipid Encapsulation matriX, or PLEX, technology.
Shares: 3.125 million
Price Range: $15.00-$17.00
Market Cap: $246m-$279m
Trade Date: Friday, 6/26
Underwriter(s): Barclays, BMO Capital
Co-Manager: Raymond James, National Securities, ODDO BHF, AGP
Terms Added: 6-22-20
Last Postponed in March 2018

One deal that we “anticipated” to launch was ArcherDX Inc (RCHR), however, that company was acquired by Invitae Corporation (NVTA) in an announcement this morning.

These three IPOs are in addition to the Friday launches of Albertson’s Holding Company (ACI) and Agora Inc (API). Additionally, a. $1.5bn equity raise by American Airlines Group (AAL) was announced. The offering features $750m worth of common shares and $750m worth of senior notes. IPO Boutique rates (BUY, Neutral or Avoid) only the common shares.

We use underwriting sources, buy-side contacts and statistical analysis to tackle the syndicate market. Give us a try for as little as $50 per week.

https://www.ipoboutique.com/blog/register/

06.22.20: Monday Morning IPO Launch Party