Post Labor Day terms set for trio of companies

The IPO market has begun its post Labor Day revival.

A trio of companies, a technology deal and two financials, filed with terms on Monday morning and subsequently have set a debut date of September 16 to go public.

Everbridge Inc. (Nasdaq: EVBG) is a global software company that provides critical communications and enterprise safety applications that enable customers to automate and accelerate the process of keeping people safe and businesses running during critical events.  Everbridge is seeking to raise $90 million (7.5 million shares at $11-$13) if priced at the mid-point of the range.

FB Financial Group (NYSE: FBK) is a bank holding company headquartered in Nashville, Tennessee. ‘FBK’ is looking to raise $100 million (5.88 million shares at $16-$18) if priced at the mid-point of the range.

The Bank of N.T. Butterfield & Son (NYSE: NTB) is a full service bank and wealth manager headquartered in Hamilton, Bermuda. They are offering 10.6 million shares at $22-$25. Despite currently being listed on the Bermuda Exchange, the underwriters are considering this deal to be an IPO.

August proved to be a month where the market produced near pristine conditions for IPOs to come to market. Volatility was nearly non-existent and markets continue to drift toward all-time highs. We expect September to be a strong month for banks to bring IPOs to market.