The following IPOs are expected to price this week:
American Capital Mortgage (MTGE), a newly formed REIT that will invest in RMBS and whole mortgages, plans to raise $350 million by offering 17,500,000 shares at a price of $20. At the proposed price, American Capital Mortgage will command a market value of $375 million. The Bethesda, MD-based company plans to list on the NASDAQ under the symbol MTGE. Citi, Deutsche Bank Securities, and UBS Investment Bank are the lead underwriters on the deal.
Midland States Bancorp, Inc. (MSBI), the fourth largest bank holding company in Illinois, plans to raise $80 million by offering 5 million shares at a price range of $15 to $17. At the mid-point of the proposed range, Midland States Bancorp, Inc. will command a market value of $149 million. Midland States Bancorp, Inc., which was founded in 1881, booked $100 million in sales over the last 12 months. The Effingham, IL-based company plans to list on the NASDAQ under the symbol MSBI. Sandler O'Neill and Stifel Nicolaus Weisel are the lead underwriters on the deal.
WageWorks, Inc. (WAGE), an on-demand provider of employee spending account benefits programs, plans to raise $75 million by offering 5.8 million shares at a price range of $12 to $14. At the mid-point of the proposed range, WageWorks, Inc. will command a market value of $389 million. WageWorks, Inc., which was founded in 2000, booked $121 million in sales over the last 12 months. The San Mateo, CA-based company plans to list on the NYSE under the symbol WAGE. Credit Suisse, and William Blair are the lead underwriters on the deal.
WhiteGlove Health (WGH), which provides low cost primary and chronic care to self-insured firms mostly in Texas, plans to raise $28 million by offering 2.5 million shares at a price range of $9 to $13. At the mid-point of the proposed range, WhiteGlove Health will command a market value of $160 million. WhiteGlove Health, which was founded in 2006, booked $5 million in sales over the last 12 months. The Austin, TX-based company plans to list on the NYSE/Amex under the symbol WGH. WR Hambrecht and Rodman & Renshaw are the lead underwriters on the deal.
Renaissance Capital will have Pre-IPO Research available on these upcoming IPOs prior to its pricing.
Last week, there were 8 IPO pricings. Teavana Holdings (TEA), a specialty retailer of loose-leaf tea with 163 stores in the US and 17 in Mexico, was the week's winner, ending up 66% from its IPO price.
