New Filings & Updated Terms – Week ending 11.03.17

IPO Boutique keeps apprised of the active pipeline. Currently there are 73 active IPOs in the pipeline as of November 3, 2017. No SPACs or Unit Offerings are included. While the numbers may look diminished, we outlined why “looks may be perceiving” when it comes to the IPO pipeline in this article.

 

 NEW FILINGS

Company: Senmiao Technology Limited
Symbol: AIHS
Description: They are an online lending platform in China connecting Chinese investors with individual and small- to-medium-sized enterprise borrowers and creditors. A $20m cash raise has been listed.
Trade Date: TBD
Underwriter(s): Viewtrade Securities
Filed 10-30-17
Listed Cash Raise: $20.0 million

TERMS ADDED

Company: Metropolitan Bank Holding Corp.
Symbol: MCB
Description: They are a bank holding company headquartered in New York, New York and registered under the Bank Holding Company Act of 1956, as amended (the BHC Act).
Shares: 3.1 million
Price Range: $31.00-$34.00
Trade Date: 11/8
Underwriter(s): J.P. Morgan, Keefe Bruyette & Woods
Co-Manager: Piper Jaffray
Terms Added: 10-27-17

Company: Sogou Inc
Symbol: SOGO
Description: They are an innovator in search and a leader in China’s Internet industry. Their Sogou Search is the second largest search engine by mobile queries in China and they are the fourth largest Internet company in China.
Shares: 45 million ADSs
Price Range: $11.00-$13.00
Trade Date: 11/9
Underwriter(s): J.P. Morgan, Credit Suisse, Goldman Sachs, CICC
Co-Manager(s): China Renaissance
Filed 10-27-17

Company: Four Seasons Education (Cayman) Inc.
Symbol: FEDU
Description: They are dedicated to providing high quality math education. In 2016 and the six months ended June 30, 2017, we were the largest after-school math education service provider for elementary school students in Shanghai, as measured by gross billings and number of students, according to the Frost & Sullivan Report.
Shares: 10.1 million ADSs
Price Range: $9.00-$11.00
Trade Date: 11/8
Underwriter(s): Morgan Stanley, Citigroup, China Renaissance
Filed 10-27-17

Company: Bandwidth, Inc
Symbol: BAND
Description: They are a leading cloud-based communications platform for enterprises in the United States.
Shares: 4 million
Price Range: $20.00-$22.00
Trade Date: 11/10
Underwriter(s): Morgan Stanley, KeyBanc Capital, Baird
Co-Manager(s): Canaccord Genuity, JMP Securities
Terms Added: 10-30-17

Company: Fireman B.V.
Symbol: IFRX
Description: They are a clinical stage biopharmaceutical company focused on applying their proprietary anti-C5a technology to discover and develop first-in-class, potent and specific inhibitors of C5a.
Shares: 6.67 million
Price Range: $14.00-$16.00
Trade Date: 11/8
Underwriter(s): J.P. Morgan, Leerink Partners, BMO Capital Markets
Filed 10-30-17

Company: CBTX, Inc
Symbol: CBTX
Description: They are a bank holding company that operates through our wholly-owned subsidiary, Community Bank of Texas, in Houston and Beaumont, Texas.
Shares: 2.4 million
Price Range: $24.00-$26.00
Trade Date: 11/8
Underwriter(s): Stephens, Keefe Bruyette & Woods, Sandler O’ Neill + Partners
Terms Added: 10-30-17

Company: Apellis Pharmaceuticals
Symbol: APLS
Description: They are a clinical-stage biopharmaceutical company focused on the discovery and development of novel therapeutic compounds for autoimmune and inflammatory diseases.
Shares: 10.7 million
Price Range: $13.00-$15.00
Trade Date: 11/9
Underwriter(s): Citigroup, J.P. Morgan, Evercore ISI
Filed 10-30-17

Company: PPDAI Group Inc.
Symbol: PPDF
Description: They are a leading online consumer finance marketplace in China with strong brand recognition.
Shares: 17 million ADSs
Price Range: $16.00-$19.00
Trade Date: 11/10
Underwriter(s): Credit Suisse, Citigroup
Co-Manager(s): Keefe Bruyette & Woods
Filed 10-30-17

Company: Workspace Property Trust
Symbol: WSPT
Description: Workspace Property Trust is a fully integrated real estate investment company primarily focused on acquiring, owning and operating high-quality office and flex real estate in prime locations within transit centric, amenity rich U.S. suburban office submarkets.
Shares: 39 million
Price Range: $12.00-$15.00
Trade Date: 11/10
Underwriter(s): Goldman Sachs & Co, J.P. Morgan, BofA Merrill Lynch
Co-Manager(s): KeyBanc Capital Markets, Barclays, Citigroup, BMO Capital Markets, Capital One Securities, JMP Securities
Terms Added: 11-1-17

Company: Cue Biopharma, Inc.
Symbol: CUE
Description: They are an innovative biopharmaceutical company developing a novel and proprietary class of biologic drugs for the selective modulation of the human immune system to treat a broad range of cancers and autoimmune disorders.
Shares: 6.67 million
Price Range: $6.00-$8.00
Trade Date: TBD
Underwriter(s): MDB Capital, Feltl and Company
Filed 11-2-17

Company: SendGrid, Inc.
Symbol: SEND
Description: They are a leading digital communication platform, enabling businesses to engage with their customers via email reliably, effectively and at scale.
Shares: 7.7 million
Price Range: $13.50-$15.50
Trade Date: 11/15
Underwriter(s): Morgan Stanley, J.P. Morgan
Co-Manager(s): William Blair, KeyBanc Capital Markets, Piper Jaffray, Stifel
Filed 11-2-17

Company: Meridian Bank
Symbol: MRBK
Description: Meridian Bank is a full-service, state-chartered commercial bank with offices in the greater Philadelphia metropolitan market.
Shares: 2.22 million
Price Range: $17.00-$19.00
Trade Date: 11/7
Underwriter(s): Sandler O’ Neill + Partners
Co-Manager(s): Keefe Bruyette & Woods, D.A. Davidson
Filed 11-2-17