The following IPOs are expected to price this week:
Andina Acquisition Corp. (ANDAU), a blank check company focused on acquiring businesses in Colombia, plans to raise $50 million by offering 5.0 million shares at $10.00, for a market value of $63 million. The Bogota, Colombia-based company plans to list on the NASDAQ under the symbol ANDAU. EarlyBird Capital is the lead underwriter on the deal.
Argos Therapeutics (ARGS), which is developing personalized immunotherapies for metastatic renal cancer and HIV, plans to raise $74 million by offering 5.3 million shares at a price range of $13.00 to $15.00. At the midpoint of the proposed range, Argos Therapeutics would command a market value of $230 million. Argos Therapeutics, which was founded in 1997, booked $8 million in sales over the last 12 months. The Durham, NC-based company plans to list on the NASDAQ under the symbol ARGS. Lazard Capital Markets and Canaccord Genuity are the lead underwriters on the deal.
Nationstar Mortgage Holdings (NSM), which is a leading non-bank residential mortgage loan servicer in the US, plans to raise $300 million by offering 16.7 million shares at a price range of $17.00 to $19.00. At the midpoint of the proposed range, Nationstar Mortgage Holdings would command a market value of $1.6 billion. Nationstar Mortgage Holdings, which was founded in 1994, booked $378 million in sales over the last 12 months. The Lewisville, TX-based company plans to list on the NYSE under the symbol NSM. BofA Merrill Lynch, Citi and Credit Suisse are the lead underwriters on the deal.
Select Income REIT (SIR), a CommonWealth REIT carve-out with commercial properties primarily in Oahu, plans to raise $176 million by offering 8.0 million shares at a price range of $21.00 to $23.00. At the midpoint of the proposed range, Select Income REIT would command a market value of $660 million. Select Income REIT, which was founded in 2011, booked $109 million in sales over the last 12 months. The Newton, MA-based company plans to list on the NYSE under the symbol SIR. Morgan Stanley, BofA Merrill Lynch and Wells Fargo Securities are the lead underwriters on the deal.
Renaissance Capital will have Pre-IPO Research available on each of these upcoming IPOs prior to its pricing.
Last week, there were 2 IPO pricings. Yelp (YELP), a local business reviews website with 66 million monthly users, was the week's winner, ending up 63% from its IPO price.
