April IPO calendar begins to fill up

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The April calendar is beginning to fall into place.

After zero IPOs were on the schedule for this current week, our sources indicated that the first week of April would drum up more activity. We heard of a few technology companies planning on launching an offering (Okta, Inc. did on Monday), but it was a nice surprise to see Hess Midstream and Elevate Credit bring terms.

Additionally, a late-stage biopharm, Akcea Therapeutics, filed for its IPO and it could be a candidate to go public in the first half of 2016. When it comes to healthcare offerings, two of five in the sector have failed to come to market after launching and marketing its deal. Of the three biotech names that have gone public, one is trading well-below its offering price (ObsEva Inc.) and two have been some of the higher performers year-to-date (AnaptysBio & Jounce Therapeutics).

Below is the activity from the official filings on Monday morning with included trade dates.

NEW FILINGS

Company: Akcea Therapeutics
Symbol: AKCA
Price: TBD
Description: They are a late-stage biopharmaceutical company focused on developing and commercializing drugs to treat patients with serious cardiometabolic diseases caused by lipid disorders.
Trade Date: TBD
Shares: TBD
Underwriter(s): Cowen and Company, Stifel, Wells Fargo Securities
Filed: 3-27-17
Listed Cash Raise: $100m

TERMS ADDED

Company: Elevate Credit
Symbol: ELVT
Price: $12.00-$14.00
Description: They provide technology-driven, progressive online credit solutions to non-prime consumers, typically defined as those with credit scores of less than 700.
Trade Date: 4/6
Shares: 7.7 million
Underwriter(s): UBS Investment Bank, Credit Suisse, Jefferies, Stifel, William Blair
Terms Added: 3-24-17

Company: Okta, Inc
Symbol: OKTA
Price: $13.00-$15.00
Description: They are the leading independent provider of identity for the enterprise.
Trade Date: 4/7
Shares: 11 million
Underwriter(s): Goldman Sachs & Co., J.P. Morgan, Allen & Company
Co Manager(s): Pacific Crest Securities, Canaccord Genuity, JMP Securities
Terms Added: 3-27-17

Company: Hess Midstream Partners LP
Symbol: HESM
Price: $19.00-$21.00
Description: They are a fee-based, growth-oriented, traditional master limited partnership initially formed by Hess to own, operate, develop and acquire a diverse set of midstream assets to provide services to Hess and third-party crude oil and natural gas producers.
Trade Date: 4/6
Shares: 12.5 million
Underwriter(s): Goldman Sachs & Co., Morgan Stanley, Citigroup, J.P. Morgan, MUFG, Wells Fargo Securities
Co Manager(s): ING, Scotia Howard Weil, SMBC Nikko, Barclays, HSBC, TD Securities
Terms Added: 3-27-17