IPO Pipeline Update (Week ending 3.2.18)

IPO Boutique keeps apprised of the active pipeline. Currently there are 45 active IPOs in the pipeline as of March 2, 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: Dropbox, Inc.
Symbol: DBX
Description: Dropbox is a global collaboration platform where content is created, accessed, and shared with the world.
Trade Date: TBD
Shares: TBD
Price Range: TBD
Underwriter(s): Goldman Sachs & Co., J.P. Morgan, Deutsche Bank Securities, Allen & Company LLC, BofA Merrill Lynch, RBC Capital Markets, Jefferies, Macquarie Capital
Co-Manager(s): Canaccord Genuity, JMP Securities, KeyBanc Capital Markets, Piper Jaffray
Filed: 2-23-18
Listed Cash Raise: $500m

Company: IBEX Holdings Limited
Symbol: IBEX
Description: They are a leading end-to-end provider of technology-enabled customer lifecycle experience solutions.
Trade Date: TBD
Shares: TBD
Price Range: TBD
Underwriter(s): Baird, Piper Jaffray, William Blair, SunTrust Robinson Humphrey
Filed: 2-23-18
Listed Cash Raise: $75m

Company: Sunlands Online Education Group
Symbol: STG
Description: They are the leader in China’s online post-secondary and professional education in terms of gross billings in 2017, according to iResearch.
Trade Date: TBD
Shares: TBD
Price Range: TBD
Underwriter(s): Goldman Sachs (Asia), J.P. Morgan, Credit Suisse
Co-Manager(s): CLSA
Filed: 2-23-18
Listed Cash Raise: $300m

Company: GreenTree Hospitality Group Ltd.
Symbol: GHG
Description: They are the leading pure play franchised hotel operator in China as franchised-and-managed hotels represent almost all of the hotels in their hotel network.
Trade Date: TBD
Shares: TBD
Price Range: TBD
Underwriter(s): Morgan Stanley, BofA Merrill Lynch, UBS Investment Bank
Filed: 2-27-18
Listed Cash Raise: $200m

Company: iQIYI, Inc.
Symbol: IQ
Description: They are an innovative market-leading online entertainment service in China.
Trade Date: TBD
Shares: TBD
Price Range: TBD
Underwriter(s): Goldman Sachs (Asia), Credit Suisse, BofA Merrill Lynch, China Renaissance, Citigroup, UBS Investment Bank
Filed: 2-27-18
Listed Cash Raise: $1.5bn

Company: Spotify Technology S.A.
Symbol: SPOT
Description: Their mission is to unlock the potential of human creativity by giving a million creative artists the opportunity to live off their art and billions of fans the opportunity to enjoy and be inspired by these creators.
Trade Date: TBD
Shares: TBD
Price Range: TBD
Underwriter(s): None (Direct Listing)
Filed: 2-28-18
Listed Cash Raise: $1bn

Company: Bilibili Inc.
Symbol: BILI
Description: They represent the iconic brand of online entertainment for the young generations in China. They provide high-quality content and an immersive entertainment experience, and have built their platform based on the strong emotional connections of their users to their content and communities.
Trade Date: TBD
Shares: TBD
Price Range: TBD
Underwriter(s): Morgan Stanley, BofA Merrill Lynch, J.P. Morgan
Filed: 3-2-18
Listed Cash Raise: $400m

Company: OneSmart International Education Group Limited
Symbol: ONE
Description: They are the largest premium K-12 after-school education service provider in China in terms of revenue in 2016 and 2017, according to Frost & Sullivan.
Trade Date: TBD
Shares: TBD
Price Range: TBD
Underwriter(s): Morgan Stanley, Deutsche Bank Securities, UBS Investment Bank
Filed: 3-2-18
Listed Cash Raise: $300m

Company: Homology Medicines, Inc.
Symbol: FIXX
Description: They are a genetic medicines company dedicated to transforming the lives of patients suffering from rare genetic diseases with significant unmet medical needs by curing the underlying cause of the disease.
Trade Date: TBD
Shares: TBD
Price Range: TBD
Underwriter(s): BofA Merrill Lynch, Cowen, Evercore ISI
Co-Manager: BTIG
Filed: 3-2-18
Listed Cash Raise: $100m

TERMS ADDED

Company: BioXcel Therapeutics, Inc.
Symbol: BTAI
Description: They are a clinical stage biopharmaceutical company focused on drug development that utilizes novel artificial intelligence, or AI, to identify the next wave of medicines across neuroscience and immuno-oncology.
Trade Date: 3/8
Shares: 5 million
Price Range: $11.00-$13.00
Underwriter(s): Barclays, UBS Investment Bank, BMO Capital Markets
Co-Manager(s): Canaccord Genuity
Terms Added: 2-27-18