The following IPOs are expected to price this week:
ExamWorks Group (EXAM), a rollup of independent medical exam providers that confirms insurance claims, plans to raise $175 million by offering 10.3 million shares at a price range of $16-$18. At the mid-point of the proposed range, ExamWorks will command a market value of $575 million. ExamWorks, which was founded in 2007, booked $91 million in sales over the last 12 months. The Atlanta, GA-based company plans to list on the NYSE under the symbol EXAM. Goldman, Sachs & Co., Credit Suisse and Barclays Capital are the lead underwriters on the deal.
First Wind Holdings (WIND), a D.E. Shaw/Madison Dearborn-backed developer and owner of U.S. wind farms, plans to raise $300 million by offering 12 million shares at a price range of $24-$26. At the mid-point of the proposed range, First Wind will command a market value of $1.2 billion. First Wind, which was founded in 2002, booked $75 million in sales over the last 12 months. The Newton, MA-based company plans to list on the NASDAQ under the symbol WIND. Credit Suisse, Morgan Stanley and Goldman, Sachs & Co. are the lead underwriters on the deal.
Le Gaga Holdings (GAGA), a farmland and greenhouse vegetable producer in China, plans to raise $92 million by offering 10.9 million ADSs at a price range of $7.50-$9.50. At the mid-point of the proposed range, Le Gaga will command a market value of $400 million. Le Gaga, which was founded in 2004, booked $41 million in sales over the last 12 months. The Kowloon, Hong Kong-based company plans to list on the NASDAQ under the symbol GAGA. BofA Merrill Lynch and UBS Investment Bank are the lead underwriters on the deal.
Mecox Lane Limited (MCOX), China's largest e-commerce platform for apparel and accessories, plans to raise $106 million by offering 11.7 million ADSs at a price range of $8-$10. At the mid-point of the proposed range, Mecox Lane will command a market value of $588 million. Mecox Lane, which was founded in 1996, booked $209 million in sales over the last 12 months. The Shanghai-based company plans to list on the NASDAQ under the symbol MCOX. Credit Suisse and UBS Investment Bank are the lead underwriters on the deal.
Pacific Biosciences of California (PACB), which is developing a system that performs real-time DNA sequencing, plans to raise $200 million by offering 12.5 million shares at a price range of $15-$17. At the mid-point of the proposed range, Pacific Biosciences of California will command a market value of $695 million. Pacific Biosciences of California, which was founded in 2000, has yet to generate product revenue. The Menlo Park, CA-based company plans to list on the NASDAQ under the symbol PACB. J.P. Morgan and Morgan Stanley are the lead underwriters on the deal.
SeaCube Container Leasing (BOX), which acquires and leases refrigerated containers, dry containers and generator sets, plans to raise $128 million by offering 7.5 million shares at a price range of $16-$18. At the mid-point of the proposed range, SeaCube Container will command a market value of $324 million. SeaCube Container, which was founded in 1993, booked $142 million in sales over the last 12 months. The Park Ridge, NJ-based company plans to list on the NYSE under the symbol BOX. J.P. Morgan, Citi and Deutsche Bank Securities are the lead underwriters on the deal.
Last week, there were 6 IPO pricings. Vera Bradley (VRA), which designs, produces and sells handbags and accessories for women, was the week's winner, ending up 68% from its IPO price.
