The following IPOs are expected to price this week:
Bloomin' Brands (BLMN), a leading casual dining restaurant company and owner of Outback Steakhouse, plans to raise $300 million by offering 21.4 million shares at a price range of $13.00 to $15.00. At the midpoint of the proposed range, Bloomin' Brands would command a market value of $1.7 billion. Bloomin' Brands, which was founded in 1987, booked $3.9 billion in sales over the last 12 months. The Tampa, FL-based company plans to list on the NASDAQ under the symbol BLMN. BofA Merrill Lynch, Morgan Stanley, J.P. Morgan and Deutsche Bank Securities are the joint bookrunners on the deal.
CKE (CK), a fast food chain with 3,263 restaurants under its Carl's Jr. and Hardee's brands, plans to raise $200 million by offering 13.3 million shares at a price range of $14.00 to $16.00. At the midpoint of the proposed range, CKE would command a market value of $839 million. CKE was founded in 1945. The Carpinteria, CA-based company plans to list on the NYSE under the symbol CK. Morgan Stanley, Citi, Goldman Sachs and Barclays are the joint bookrunners on the deal.
Manchester United Ltd. (MANU), one of the world's most well-known soccer clubs, plans to raise $300 million by offering 16.7 million shares at a price range of $16.00 to $20.00. At the midpoint of the proposed range, Manchester United Ltd. would command a market value of $2.9 billion. Manchester United Ltd., which was founded in 1878, booked $543 million in sales over the last 12 months. The Manchester, United Kingdom-based company plans to list on the NYSE under the symbol MANU. Jefferies & Co., Credit Suisse, J.P. Morgan and BofA Merrill Lynch are the joint bookrunners on the deal.
Peregrine Semiconductor (PSMI), a fabless provider of radio frequency integrated circuits in the wireless market, plans to raise $83 million by offering 5.5 million shares at a price range of $14.00 to $16.00. At the midpoint of the proposed range, Peregrine Semiconductor would command a market value of $458 million. Peregrine Semiconductor, which was founded in 1990, booked $142 million in sales over the last 12 months. The San Diego, CA-based company plans to list on the NASDAQ under the symbol PSMI. Deutsche Bank Securities and J.P. Morgan are the joint bookrunners on the deal.
Performant Financial (PFMT), which recovers delinquent and defaulted loans for Dept. of Education and Medicare, plans to raise $150 million by offering 11.5 million shares at a price range of $12.00 to $14.00. At the midpoint of the proposed range, Performant Financial would command a market value of $656 million. Performant Financial, which was founded in 1976, booked $185 million in sales over the last 12 months. The Livermore, CA-based company plans to list on the NYSE under the symbol PFMT. Morgan Stanley, Goldman Sachs, Credit Suisse and Wells Fargo Securities are the joint bookrunners on the deal.
Stemline Therapeutics (STML), a biotech developing treatments that target cancer stem cells and tumor bulk, plans to raise $42 million by offering 3.5 million shares at a price range of $11.00 to $13.00. At the midpoint of the proposed range, Stemline Therapeutics would command a market value of $128 million. Stemline Therapeutics was founded in 2003. The New York, NY-based company plans to list on the NASDAQ under the symbol STML. RBC Capital Markets and Oppenheimer & Co. are the joint bookrunners 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. Eloqua (ELOQ), which provides on-demand software to automate marketing and sales initiatives, was the week's winner, ending up 30% from its IPO price.
