The following IPOs are expected to price this week:
Capital Bank Financial (CBF), a southeastern US bank recently formed through six acquisitions, plans to raise $250 million by offering 11.4 million shares at a price range of $21.00 to $23.00. At the midpoint of the proposed range, Capital Bank Financial would command a market value of $1.2 billion. Capital Bank Financial, which was founded in 2009, booked $301 million in sales over the last 12 months. The Coral Gables, FL-based company plans to list on the NASDAQ under the symbol CBF. Credit Suisse, BofA Merrill Lynch, Goldman Sachs and Barclays are the joint bookrunners on the deal.
GlobeImmune (GBIM), which is developing therapeutic drugs for pancreatic cancer and hepatitis B and C, plans to raise $60 million by offering 5.0 million shares at a price range of $11.00 to $13.00. At the midpoint of the proposed range, GlobeImmune would command a market value of $207 million. GlobeImmune, which was founded in 1995, booked $9 million in sales over the last 12 months. The Louisville, CO-based company plans to list on the NASDAQ under the symbol GBIM. Wells Fargo Securities and Piper Jaffray are the joint bookrunners on the deal.
National Bank Holdings (NBHC), which operates 101 full-service banking centers primarily in Kansas City and Colorado, plans to raise $150 million by offering 7.2 million shares at a price range of $20.00 to $22.00. At the midpoint of the proposed range, National Bank Holdings would command a market value of $1.1 billion. National Bank Holdings, which was founded in 2009, booked $234 million in sales over the last 12 months. The Boston, MA-based company plans to list on the NYSE under the symbol NBHC. Goldman Sachs and Keefe Bruyette Woods are the joint bookrunners on the deal.
Smith Electric Vehicles (SMTH), which manufactures commercial electric trucks in the US and Europe, plans to raise $76 million by offering 4.5 million shares at a price range of $16.00 to $18.00. At the midpoint of the proposed range, Smith Electric Vehicles would command a market value of $423 million. Smith Electric Vehicles, which was founded in 2009, booked $29 million in sales over the last 12 months. The Kansas City, MO-based company plans to list on the NASDAQ under the symbol SMTH. UBS Investment Bank, Deutsche Bank, Barclays and CRT Capital Group are the joint bookrunners on the deal.
Spirit Realty Capital (SRC), a REIT providing net-leases on primarily stand-alone retail and restaurant properties, plans to raise $460 million by offering 27.1 million shares at a price range of $16.00 to $18.00. At the midpoint of the proposed range, Spirit Realty Capital would command a market value of $1.3 billion. Spirit Realty Capital, which was founded in 2003, booked $280 million in sales over the last 12 months. The Scottsdale, AZ-based company plans to list on the NYSE under the symbol SRC. Morgan Stanley, Macquarie Capital, UBS Investment Bank and Deutsche Bank are the joint bookrunners on the deal.
Susser Petroleum Partners LP (SUSP), a wholesale distributor of motor fuels, plans to raise $190 million by offering 9.5 million shares at a price range of $19.00 to $21.00. At the midpoint of the proposed range, Susser Petroleum Partners LP would command a market value of $438 million. Susser Petroleum Partners LP, which was founded in 2012, booked $4.1 billion in sales over the last 12 months. The Houston, TX-based company plans to list on the NYSE under the symbol SUSP. BofA Merrill Lynch, Barclays, Wells Fargo Securities and UBS Investment Bank are the joint bookrunners on the deal.
Trulia (TRLA), an online residential real estate marketplace with 22 million monthly unique visitors, plans to raise $90 million by offering 6.0 million shares at a price range of $14.00 to $16.00. At the midpoint of the proposed range, Trulia would command a market value of $432 million. Trulia, which was founded in 2005, booked $51 million in sales over the last 12 months. The San Francisco, CA-based company plans to list on the NYSE under the symbol TRLA. J.P. Morgan and Deutsche Bank 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.
