The following IPOs are expected to price this week:
Cara Therapeutics (CARA), a clinical-stage biotech developing a novel opioid pain medication, 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, Cara Therapeutics would command a market value of $262 million. Cara Therapeutics, which was founded in 2004, booked $11 million in sales over the last 12 months. The Shelton, CT-based company plans to list on the NASDAQ under the symbol CARA. Stifel and Piper Jaffray are the joint bookrunners on the deal.
Dicerna Pharmaceuticals (DRNA), which is developing RNAi therapeutics for the treatment of rare liver disease and cancer, 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, Dicerna Pharmaceuticals would command a market value of $188 million. Dicerna Pharmaceuticals, which was founded in 2006, booked $6 million in sales over the last 12 months. The Watertown, MA-based company plans to list on the NASDAQ under the symbol DRNA. Jefferies & Co., Leerink Partners and Stifel are the joint bookrunners on the deal.
Intrawest Resorts Holdings (SNOW), which is leading mountain resort and adventure company backed by Fortress, plans to raise $250 million by offering 15.6 million shares at a price range of $15.00 to $17.00. At the midpoint of the proposed range, Intrawest Resorts Holdings would command a market value of $729 million. Intrawest Resorts Holdings, which was founded in 1976, booked $526 million in sales over the last 12 months. The Denver, CO-based company plans to list on the NYSE under the symbol SNOW. Goldman Sachs, Credit Suisse, Deutsche Bank and BofA Merrill Lynch are the joint bookrunners on the deal.
Malibu Boats (MBUU), a leading performance sport boat manufacturer, 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, Malibu Boats would command a market value of $314 million. Malibu Boats, which was founded in 1982, booked $177 million in sales over the last 12 months. The Loudon, TN-based company plans to list on the NASDAQ under the symbol MBUU. Raymond James and Wells Fargo Securities are the joint bookrunners on the deal.
The New Home Company (NWHM), a single-family homebuilder focused on major metropolitan areas in CA, plans to raise $125 million by offering 7.8 million shares at a price range of $15.00 to $17.00. At the midpoint of the proposed range, The New Home Company would command a market value of $265 million. The New Home Company, which was founded in 2009, booked $85 million in sales over the last 12 months. The Aliso Viejo, CA-based company plans to list on the NYSE under the symbol NWHM. Citi, J.P. Morgan and Credit Suisse are the joint bookrunners on the deal.
Ultragenyx Pharmaceutical (RARE), a clinical-stage biotech developing treatments for rare metabolic genetic diseases, plans to raise $75 million by offering 4.8 million shares at a price range of $14.00 to $17.00. At the midpoint of the proposed range, Ultragenyx Pharmaceutical would command a market value of $436 million. Ultragenyx Pharmaceutical, which was founded in 2010, booked $0 million in sales over the last 12 months. The Novato, CA-based company plans to list on the NASDAQ under the symbol RARE. J.P. Morgan 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 3 IPO pricings. Care.com (CRCM), the world's largest online marketplace for finding and managing family care, was the week's winner, ending up 43% from its IPO price.
