Company: Evolus, Inc.
Symbol: EOLS
Description: They are a medical aesthetics company focused on providing physicians and their patients with expanded choices in aesthetic procedures and treatments.
Shares: 5 million
Price Range: $12.00-$14.00
Trade Date: 2/8
Underwriter(s): Cantor, Mizuho Securities
Co-Manager: SunTrust Robinson Humphrey, JMP Securities
Filed: 1-29-17
Business: They focus on the self-pay aesthetic market and our first product candidate, PrabotulinumtoxinA (DWP-450), is an injectable 900 kilodalton, or kDa, botulinum toxin type A complex designed to address the needs of the large and growing facial aesthetics market. We believe we will offer physicians and patients a compelling value proposition with DWP-450. Currently, onabotulinumtoxinA (BOTOX) is the neurotoxin market leader and the only known approved 900 kDa botulinum toxin type A complex in the United States.
Ownership: In a series of related transactions in 2013, SCH acquired all of their outstanding equity in exchange for membership interests in SCH. In 2014, SCH contributed their equity that it had acquired in 2013 to ALPHAEON. As a result of these transactions, Evolus became a wholly-owned subsidiary of ALPHAEON. Immediately following the completion of this offering, ALPHAEON will own 78.8% of their outstanding shares of common stock (or approximately 76.4% of our common stock, if the underwriters exercise in full their option to purchase additional shares of our common stock in this offering), and as a result, ALPHAEON will continue to have significant control of their business.
License: On September 30, 2013, they entered into the Daewoong Agreement pursuant to which Daewoong agreed to manufacture and supply EOLS with DWP-450 and granted them an exclusive license to develop, distribute, market and sell the product in the covered territories. Daewoong also granted EOLS a non-exclusive license to do the same in Japan. They have the option, subject to certain payment conditions, to expand the permitted use of the product beyond aesthetic indications and into therapeutic indications, the latter of which they have assigned to and are currently holding in trust for ALPHAEON. Under the Daewoong Agreement, they are required to make certain minimum annual purchases upon commercialization in order to maintain the exclusivity of the license.
Book-Building Status: The way the book comes together during the week of the roadshow is the most critical indicator to first-day and first-week performance. IPO Boutique uses its 45 years of experience and sources all over the street to gather daily subscription levels, specific price guidance and what type of investors are currently in the book or are anchoring orders in the book. In addition, recent underwriter performance on sector specific deals is a strong factor that IPO Boutique takes into account when determining if our clients should indicate for any offering.
IPO Boutique subscription clients receive daily updates on this critical information.
Conclusion: IPO Boutique provides ratings, daily commentary and a forecast for how this IPO will open vs. its offering price. We have kept a track record with our performance for last 12 years at our website. Additionally, here’s a 2017 recap of our performance to showcase the value of IPO Boutique’s service.
Indicate with confidence, SUBSCRIBE today.
English
Arabic
Chinese (Simplified)
Dutch
French
German
Italian
Portuguese
Russian
Spanish