The following IPOs are expected to price this week:
CardioDx (CDX), which sells diagnostic tests for cardiovascular diseases, plans to raise $75 million by offering 5.0 million shares at a price range of $14.00 to $16.00. At the midpoint of the proposed range, CardioDx would command a market value of $282 million. CardioDx, which was founded in 2003, booked $7 million in sales over the last 12 months. The Palo Alto, CA-based company plans to list on the NASDAQ under the symbol CDX. BofA Merrill Lynch and Jefferies & Co. are the joint bookrunners on the deal.
Celladon Corporation (CLDN), which is developing novel therapies for the treatment of heart disease, plans to raise $75 million by offering 5.0 million shares at a price range of $14.00 to $16.00. At the midpoint of the proposed range, Celladon Corporation would command a market value of $257 million. Celladon Corporation, which was founded in 2000, booked $0 million in sales over the last 12 months. The San Diego, CA-based company plans to list on the NASDAQ under the symbol CLDN. J.P. Morgan and Barclays are the joint bookrunners on the deal.
Chegg (CHGG), a leading online textbook rental and educational resource platform company, plans to raise $158 million by offering 15.0 million shares at a price range of $9.50 to $11.50. At the midpoint of the proposed range, Chegg would command a market value of $968 million. Chegg, which was founded in 2005, booked $247 million in sales over the last 12 months. The Santa Clara, CA-based company plans to list on the NYSE under the symbol CHGG. J.P. Morgan and BofA Merrill Lynch are the joint bookrunners on the deal.
Dynagas LNG Partners LP (DLNG), a limited partnership focused on owning and operating LNG carriers, plans to raise $250 million by offering 12.5 million shares at a price range of $19.00 to $21.00. At the midpoint of the proposed range, Dynagas LNG Partners LP would command a market value of $600 million. Dynagas LNG Partners LP, which was founded in 2004, booked $83 million in sales over the last 12 months. The Glyfada, Greece-based company plans to list on the NASDAQ under the symbol DLNG. Credit Suisse, BofA Merrill Lynch, Morgan Stanley and Barclays are the joint bookrunners on the deal.
Eros International (EROS), which produces and distributes Indian films in over 50 countries, plans to raise $200 million by offering 12.5 million shares at a price range of $15.00 to $17.00. At the midpoint of the proposed range, Eros International would command a market value of $844 million. Eros International, which was founded in 1977, booked $208 million in sales over the last 12 months. The Mumbai, India-based company plans to list on the NYSE under the symbol EROS. Deutsche Bank, BofA Merrill Lynch, UBS Investment Bank and Jefferies & Co. are the joint bookrunners on the deal.
Extended Stay America (STAY), the largest owner and operator of company-branded hotels in North America, plans to raise $551 million by offering 28.3 million shares at a price range of $18.00 to $21.00. At the midpoint of the proposed range, Extended Stay America would command a market value of $4.1 billion. Extended Stay America, which was founded in 1995, booked $1.1 billion in sales over the last 12 months. The Charlotte, NC-based company plans to list on the NYSE under the symbol STAY. Deutsche Bank, Goldman Sachs and J.P. Morgan are the joint bookrunners on the deal.
Houghton Mifflin Harcourt (HMHC), a leading global publisher of primarily K-12 educational content, plans to raise $274 million by offering 18.3 million shares at a price range of $14.00 to $16.00. At the midpoint of the proposed range, Houghton Mifflin Harcourt would command a market value of $2.1 billion. Houghton Mifflin Harcourt, which was founded in 1832, booked $1.4 billion in sales over the last 12 months. The Boston, MA-based company plans to list on the NASDAQ under the symbol HMHC. Goldman Sachs, Morgan Stanley, Citi and Credit Suisse are the joint bookrunners on the deal.
Levy Acquisition (LEVYU), a blank check company focused on acquiring businesses in the restaurant and hospitality sectors, plans to raise $150 million by offering 15.0 million shares at a price of $10.00. At the midpoint of the proposed range, Levy Acquisition would command a market value of $188 million. The Chicago, IL-based company plans to list on the NASDAQ under the symbol LEVYU. Citi is the lead bookrunner on the deal.
Relypsa (RLYP), a late-stage biotech developing a treatment for hyperkalemia, plans to raise $120 million by offering 6.9 million shares at a price range of $16.00 to $19.00. At the midpoint of the proposed range, Relypsa would command a market value of $502 million. Relypsa, which was founded in 2007, booked $0 million in sales over the last 12 months. The Redwood City, CA-based company plans to list on the NASDAQ under the symbol RLYP. Morgan Stanley and BofA Merrill Lynch are the joint bookrunners on the deal.
Tandem Diabetes Care (TNDM), which manufactures a next-generation insulin pump for diabetics, plans to raise $100 million by offering 7.1 million shares at a price range of $13.00 to $15.00. At the midpoint of the proposed range, Tandem Diabetes Care would command a market value of $329 million. Tandem Diabetes Care, which was founded in 2006, booked $21 million in sales over the last 12 months. The San Diego, CA-based company plans to list on the NASDAQ under the symbol TNDM. BofA Merrill Lynch and Piper Jaffray are the joint bookrunners on the deal.
Xencor (XNCR), a biotech developing treatments for severe autoimmune/allergic diseases and cancer, plans to raise $75 million by offering 5.0 million shares at a price range of $14.00 to $16.00. At the midpoint of the proposed range, Xencor would command a market value of $325 million. Xencor, which was founded in 1997, booked $11 million in sales over the last 12 months. The Monrovia, CA-based company plans to list on the NASDAQ under the symbol XNCR. Credit Suisse and Leerink Swann are the joint bookrunners on the deal.
zulily (ZU), a flash sales site offering deals on children's apparel and other products for moms, plans to raise $196 million by offering 11.5 million shares at a price range of $16.00 to $18.00. At the midpoint of the proposed range, zulily would command a market value of $2.2 billion. zulily, which was founded in 2009, booked $567 million in sales over the last 12 months. The Seattle, WA-based company plans to list on the NASDAQ under the symbol ZU. Goldman Sachs, BofA Merrill Lynch and Citi 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 13 IPO pricings. Twitter (TWTR), a online social networking and microblogging service, was the week's winner, ending up 60% from its IPO price.
