Company: Taiwan Liposome Company, Ltd. Symbol: TLC Description: They are a clinical-stage specialty pharmaceutical company dedicated to the development and commercialization of best-in-class novel nanomedicines that combine our proprietary lipid-assembled drug delivery platform with approved active pharmaceutical ingredients (APIs). Trade Date: 4/26 Shares: 4.7 million ($35m cash raise) Price Range: $7.46-$7.46 Underwriter(s): Cantor Co-Manager(s): CLSA,[…]
nLIGHT Inc. #IPO Preview (LASR)
Company: nLIGHT, Inc. Symbol: LASR Description: They are a leading provider of high-power semiconductor and fiber lasers. Trade Date: 4/27 (UPDATE: Offering now 4/26) Shares: 5.4 million Price Range: $13.00-$15.00 Underwriter(s): Stifel, Raymond James Co-Manager(s): Needham & Co., Canaccord Genuity, D.A. Davidson Terms Added: 4-16-18 Link to S-1/A Prospectus Link to Retail Roadshow Business: Their lasers[…]
Goosehead Insurance #IPO Preview ($GSHD)
Company: Goosehead Insurance, Inc. Symbol: GSHD Description: They are a leading independent personal lines insurance agency, based on personal lines revenue, reinventing the traditional approach to distributing personal lines products and services throughout the United States. Trade Date: 4/27 Shares: 8.5 million Price Range: $14.00-$16.00 Underwriter(s): J.P. Morgan, BofA Merrill Lynch Co-Manager(s): Keefe Bruyette &[…]
Docusign, Inc. #IPO Preview ($DOCU)
Company: DocuSign, Inc. Symbol: DOCU Description: DocuSign accelerates the process of doing business for companies, and simplifies life for their customers and employees. Shares: 21.7 million Price Range: $24.00-$26.00 Trade Date: 4/27 Underwriter(s): Morgan Stanley, J.P. Morgan, Citigroup, BofA Merrill Lynch, Deutsche Bank Securities Co-Manager(s): JMP Securities, Piper Jaffray, William Blair Terms Added: 4-17-18 Link[…]
Ceridian HCM Holding Inc. #IPO Preview ($CDAY)
Company: Ceridian HCM Holding Inc. Symbol: CDAY Description: Ceridian is a global human capital management software company. Shares: 21 million Price Range: $19.000-$21.00 Trade Date: 4/26 Underwriter(s): Goldman Sachs & Co, J.P. Morgan, Credit Suisse, Deutsche Bank Securities, Barclays, Citigroup, Jefferies, CIBC Capital Markets, Wells Fargo Securities Co-Manager: Baird, Canaccord Genuity, Piper Jaffray, William Blair,[…]
IPO Weekly Recap: Domestic technology IPOs continue to shine
Place more than four decades of experience on your team. We use a combination of underwriter contacts, global sources and contacts at large institutional funds to provide the TRUEST picture of how an IPO is shaping up prior to its debut. We are on your team. Additionally, we provide comprehensive research to outline short and[…]
Pivotal Software #IPO Preview
Company: Pivotal Software, Inc. Symbol: PVTL Description: They provide a leading cloud-native platform that makes software development and IT operations a strategic advantage for their customers. Trade Date: 4/20 Shares: 37.0 million Price Range: $14.00-$16.00 Underwriter(s): Morgan Stanley, Goldman Sachs & Co., Citigroup Co-Manager(s): BofA Merrill Lynch, Barclays, Credit Suisse, RBC Capital, UBS Investment Bank,[…]
VRIO Corp #IPO Preview
Company: Vrio Corp Symbol: VRIO Description: They are a leading provider of digital entertainment services in South America, with approximately 13.6 million subscribers in the Region as of December 31, 2017. Trade Date: 4/19 Shares: 29.7 million Price Range: $19.00-$22.00 Underwriter(s): Goldman Sachs & Co., J.P. Morgan, Citigroup, Morgan Stanley. BofA Merrill Lynch, Barclays, BTG[…]
Surface Oncology #IPO Preview ($SURF)
Company: Surface Oncology, Inc. Symbol: SURF Description: They are a clinical-stage immuno-oncology company focused on using our specialized knowledge of the biological pathways critical to the immunosuppressive tumor microenvironment, or the TME, for the development of next-generation cancer therapies. Trade Date: 4/19 Shares: 6 million Price Range: $13.00-$15.00 Underwriter(s): Goldman Sachs, Cowen, Evercore ISI Terms[…]
MorphoSys AG #IPO Preview
Company: MorphoSys AG Symbol: MOR Description: They are a late-stage biopharmaceutical company devoted to the development of innovative and differentiated therapies for patients suffering from serious diseases. Their shares are listed on the Frankfurt Stock Exchange under the symbol ‘MOR’. Trade Date: 4/19 Shares: 8.3 million ADSs Price Range: $24.12-$24.12 Underwriter(s): Goldman Sachs & Co.,[…]
Mereo Biopharma ($MREO) #IPO Preview
Company: Mereo Biopharma Group plc Symbol: MREO Description: They are a multi-asset biopharmaceutical company focused on the acquisition, development, and commercialization of innovative therapeutics that aim to improve outcomes for patients with rare and specialty diseases. This is an IPO of the company’s ADSs. Their ordinary shares trade on AIM, a market of the London[…]
GrafTech International Ltd. ($EAF) #IPO Preview
Company: GrafTech International Ltd. Symbol: EAF Description: They are a leading manufacturer of high quality graphite electrode products essential to the production of electric arc furnace (or EAF) steel and other ferrous and non-ferrous metals. Trade Date: 4/19 Shares: 37.8 million Price Range: $21.00-$24.00 Underwriter(s): J.P. Morgan, Credit Suisse, Citigroup, RBC Capital Markets, HSBC Co-Manager(s):[…]
New Filings & Updated Terms (4.13.18)
NEW FILINGS Company: Spirit of Texas Bancshares, Inc. Symbol: STXB Description: They are a Texas corporation and a registered bank holding company located in the Houston metropolitan area with headquarters in Conroe, Texas. Trade Date: TBD Shares: TBD Price Range: TBD Underwriter(s): Stephens Inc., Keefe Bruyette & Woods Co-Manager(s): Piper Jaffray, Sandler O’Neill + Partners[…]
Level One ($LEVL) Bancorp #IPO Preview
Company: Level One Bancorp Symbol: LEVL Description: Level One Bancorp, Inc. is the bank holding company for Level One Bank, headquartered in Farmington Hills located in Oakland County, Michigan. Trade Date: 4/20 Shares: 1 million Price Range: $27.00-$29.00 Underwriter(s): Raymond James, Keefe Bruyette & Woods Co-Manager(s): Piper Jaffray Terms Added: 4-12-18 Link to S-1/A[…]
FirstCaribbean International Bank Limited #IPO Preview ($FCI)
Company: FirstCaribbean International Bank Limited Symbol: FCI Description: They are a leading financial institution operating throughout the English and Dutch-speaking Caribbean with a strong balance sheet and regionally-leading digital banking capabilities. Trade Date: 4/20 Shares: 9.6 million Price Range: $22.00-$25.00 Underwriter(s): Barclays, UBS Investment Bank, CIBC Capital Markets Terms Added: 4-10-18 Link to S-1/A Prospectus[…]
Spotify Direct Listing not an unequivocal success
Spotify Inc (SPOT) bucked the traditional IPO route and performed its ‘direct-listing IPO’ this week. Although IPO Boutique did not cover the Spotify (SPOT) offering (there were no subscription levels to report or give an advantage to our clients)…we did notice how some media outlets chose to call the listing a ‘success’ based on the[…]
New Filings & Updated Terms (4.6.18)
IPO Boutique keeps apprised of the active pipeline. Currently there are 59 active IPOs in the pipeline as of April 6, 2018. No SPACs or Unit Offerings are included. While the numbers may look diminished, we outlined why “looks may be perceiving” when it comes to the IPO pipeline in this article. NEW FILINGS Company: MPM[…]
Zuora, Inc. #IPO Preview ($ZUO)
Company: Zuora, Inc Symbol: ZUO Description: They provide cloud-based software on a subscription basis that enables any company in any industry to successfully launch, manage, and transform into a subscription business. Trade Date: 4/12 Shares: 10 million Price Range: $11.00-$13.00 Underwriter(s): Goldman Sachs & Co., Morgan Stanley, Allen & Company LLC, Jefferies Co-Manager(s): Canaccord Genuity,[…]
IPO Weekly Recap: Carnage hits Chinese IPOs
Place more than four decades of experience on your team. We use a combination of underwriter contacts, global sources and contacts at large institutional funds to provide the TRUEST picture of how an IPO is shaping up prior to its debut. We are on your team. Additionally, we provide comprehensive research to outline short and[…]
New Filings & Updated Terms (Ending 3.30.18)
IPO Boutique keeps apprised of the active pipeline. Currently there are 55 active IPOs in the pipeline as of March 30, 2018. 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:[…]
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