The following IPOs are expected to price this week:
Brightcove (BCOV), which operates a cloud-based platform that enables customers to publish online videos, plans to raise $55 million by offering 5,000,000 shares at a price range of $10.00 to $12.00. At the midpoint of the proposed range, Brightcove would command a market value of $290.13 million. Brightcove, which was founded in 2004, booked $64 million in sales over the last 12 months. The Cambridge, MA-based company plans to list on the NASDAQ under the symbol BCOV. Morgan Stanley and Stifel Nicolaus Weisel are the lead underwriters on the deal.
Ceres (CERE), which sells seeds used to produce renewable bioenergy feedstocks, plans to raise $83 million by offering 5,000,000 shares at a price range of $16.00 to $17.00. At the midpoint of the proposed range, Ceres would command a market value of $414.08 million. Ceres, which was founded in 1996, booked $7 million in sales over the last 12 months. The Thousand Oaks, CA-based company plans to list on the NASDAQ under the symbol CERE. Goldman Sachs and Barclays Capital are the lead underwriters on the deal. (Note: Cut deal size on 2/8/12. Prior terms 5 million shares at $21 to $23.)
TVAX Biomedical (TVAX), a biotech company focused on cancer cell vacination and T cell cancer treatment, plans to raise $20 million by offering 2,000,000 shares at a price range of $9.00 to $11.00. At the midpoint of the proposed range, TVAX Biomedical would command a market value of $80.93 million. TVAX Biomedical, which was founded in 2004, plans to list on the NASDAQ under the symbol TVAX. Roth Capital is the lead underwriter on the deal. Please note: We are not issuing research on this IPO.
Renaissance Capital will have Pre-IPO Research available on these upcoming IPOs prior to its pricing.
Last week, there were 9 IPO pricings. Caesars Entertainment (CZR), a casino entertainment provider owned by TPG and Apollo, was the week's winner, ending up 58% from its IPO price.
