The following IPOs are expected to price this week:
AVG Technologies (AVG), a freemium Internet security provider for consumers and small businesses, plans to raise $125 million by offering 8,000,000 shares at a price range of $16.00 to $18.00. At the mid-point of the proposed range, AVG Technologies will command a market value of $924.50 million. AVG Technologies was founded in 1991. The Amsterdam ,Netherlands-based company plans to list on the NYSE under the symbol AVG. Morgan Stanley, J.P. Morgan, and Goldman, Sachs & Co. are the lead underwriters on the deal.
Cempra (CEMP), a biotech developing potent antibiotics to fight pneumonia and skin infections, plans to raise $86 million by offering 6,000,000 shares at a price range of $11.00 to $13.00. At the mid-point of the proposed range, Cempra will command a market value of $195.35 million. Cempra, which was founded in 2005, plans to list on the NASDAQ under the symbol CEMP. Stifel Nicolaus Weisel, Leerink Swann, and Cowen & Company are the lead underwriters on the deal.
Dynamic Offshore Resources (DOR), a Riverstone/Carlyle-backed E&P operating offshore in the Gulf of Mexico, plans to raise $400 million by offering 16,666,667 shares at a price range of $17.00 to $19.00. At the mid-point of the proposed range, Dynamic Offshore Resources will command a market value of $1.27 million. Dynamic Offshore Resources, which was founded in 2008, booked $448 million in sales over the last 12 months. The Houston, TX-based company plans to list on the NYSE under the symbol DOR. Citi, Credit Suisse, and Deutsche Bank Securities are the lead underwriters on the deal.
Greenway Medical Technologies (GWAY), which provides integrated IT solutions and services to ambulatory healthcare providers, plans to raise $80 million by offering 6,666,667 shares at a price range of $11.00 to $13.00. At the mid-point of the proposed range, Greenway Medical Technologies will command a market value of $347.02 million. Greenway Medical Technologies, which was founded in 1998, booked $99 million in sales over the last 12 months. The Carrollton, GA-based company plans to list on the NYSE under the symbol GWAY. J.P. Morgan, Morgan Stanley, and William Blair are the lead underwriters on the deal.
Matador Resources (MTDR), a oil and gas E&P focused on US shale plays, plans to raise $200 million by offering 13,333,334 shares at a price range of $14.00 to $16.00. At the mid-point of the proposed range, Matador Resources will command a market value of $831.89 million. Matador Resources, which was founded in 2003, booked $57 million in sales over the last 12 months. The Dallas, TX-based company plans to list on the NYSE under the symbol MTDR. RBC Capital Markets and Citi are the lead underwriters on the deal.
Merrimack Pharmaceuticals (MACK), which uses its Network Biology system to discover and develop cancer treatments, plans to raise $173 million by offering 16,666,667 shares at a price range of $8.00 to $10.00. At the mid-point of the proposed range, Merrimack Pharmaceuticals will command a market value of $983.83 million. Merrimack Pharmaceuticals, which was founded in 1993, booked $28 million in sales over the last 12 months. The Cambridge, MA-based company plans to list on the NASDAQ under the symbol MACK. J.P. Morgan is the lead underwriter on the deal.
Platinum Energy Solutions (FRAC), which provides fracturing services used in unconventional oil and gas drilling, plans to raise $140 million by offering 14,000,000 shares at a price range of $9.00 to $11.00. At the mid-point of the proposed range, Platinum Energy Solutions will command a market value of $325.43 million. Platinum Energy Solutions, which was founded in 2011, booked $14 million in sales over the last 12 months. The Houston, TX-based company plans to list on the NYSE under the symbol FRAC. Morgan Stanley, J.P. Morgan and Citi are the lead underwriters on the deal.
U.S. Silica Holdings (SLCA), the second largest domestic producer of silica and a major producer of fracking sand, plans to raise $200 million by offering 11,764,705 shares at a price range of $16.00 to $18.00. At the mid-point of the proposed range, U.S. Silica Holdings will command a market value of $900.00 million. U.S. Silica Holdings, which was founded in 1901, booked $271 million in sales over the last 12 months. The Frederick, MD-based company plans to list on the NYSE under the symbol SLCA. Morgan Stanley, BofA Merrill Lynch, and Jefferies & Co. are the lead underwriters on the deal.
Renaissance Capital will have Pre-IPO Research available on these upcoming IPOs prior to their pricings.
Last week, there were 2 IPO pricings. Guidewire Software (GWRE), which provides enterprise software and services to 103 P&C insurers, was the week's winner, ending up 37% from its IPO price.
