The following IPOs are expected to price this week:
Gladstone Land (LAND), an externally managed REIT planning to acquire agricultural real estate, plans to raise $50 million by offering 3.3 million shares at $15.00. At $15, Gladstone Land would command a market value of $91 million. Gladstone Land, which was founded in 1997, booked $3 million in sales over the last 12 months. The McLean, VA-based company plans to list on the NASDAQ under the symbol LAND. Janney Montgomery Scott and JMP Securities are the joint bookrunners on the deal.
KaloBios Pharmaceuticals (KBIO), which is developing monoclonal antibodies to treat respiratory diseases and cancer, plans to raise $50 million by offering 3.9 million shares at a price range of $12.00 to $14.00. At the midpoint of the proposed range, KaloBios Pharmaceuticals would command a market value of $239 million. KaloBios Pharmaceuticals, which was founded in 2001, booked $12 million in sales over the last 12 months. The South San Francisco, CA-based company plans to list on the NASDAQ under the symbol KBIO. Leerink Swann and William Blair 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 $25 million by offering 2.3 million shares at a price range of $10.00 to $12.00. At the midpoint of the proposed range, Stemline Therapeutics would command a market value of $65 million. Stemline Therapeutics, which was founded in 2003, booked no revenue over the last 12 months. The New York, NY-based company plans to list on the NASDAQ under the symbol STML. Aegis Capital is the lead bookrunner on the deal.
TRI Pointe Homes (TPH), a Starwood-backed single-family homebuilder in California, plans to raise $176 million by offering 11.7 million shares at a price range of $14.00 to $16.00. At the midpoint of the proposed range, TRI Pointe Homes would command a market value of $474 million. TRI Pointe Homes, which was founded in 2009, booked $27 million in sales over the last 12 months. The Irvine, CA-based company plans to list on the NYSE under the symbol TPH. Citi, Deutsche Bank and FBR Capital Markets are the joint bookrunners on the deal.
Zoetis (ZTS), a spin-off of Pfizer's global animal health medicines and vaccines business, plans to raise $2.0 billion by offering 86.1 million shares at a price range of $22.00 to $25.00. At the midpoint of the proposed range, Zoetis would command a market value of $11.8 billion. Zoetis, which was founded in 1952, booked $4.3 billion in sales over the last 12 months. The Madison, NJ-based company plans to list on the NYSE under the symbol ZTS. J.P. Morgan, BofA Merrill Lynch and Morgan Stanley 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. Bright Horizons Family Solutions (BFAM), which is leading provider of work site child care and early education centers, was the week's winner, ending up 29% from its IPO price.
