The following IPOs are expected to price this week:
Amedica (AMDA), which develops and sells medical devices using its silicon nitride technology platform, plans to raise $35 million by offering 3.2 million shares at a price range of $10.00 to $12.00. At the midpoint of the proposed range, Amedica would command a market value of $143 million. Amedica, which was founded in 1996, booked $23 million in sales over the last 12 months. The Salt Lake City, UT-based company plans to list on the NASDAQ under the symbol AMDA. JMP Securities is the lead bookrunner on the deal.
Boulevard Acquisition (BLVDU), a blank check company formed by the co-founders of Avenue Capital Management, plans to raise $150 million by offering 15.0 million shares at a price of $10.00. At the midpoint of the proposed range, Boulevard Acquisition would command a market value of $188 million. Boulevard Acquisition was founded in 2013. The New York, NY-based company plans to list on the NASDAQ under the symbol BLVDU. Citi is the lead bookrunner on the deal.
Concert Pharmaceuticals (CNCE), which is developing novel small molecule drugs for the treatment of spasticity and diabetic kidney disease, plans to raise $65 million by offering 5.0 million shares at a price range of $12.00 to $14.00. At the midpoint of the proposed range, Concert Pharmaceuticals would command a market value of $230 million. Concert Pharmaceuticals, which was founded in 2006, booked $24 million in sales over the last 12 months. The Lexington, MA-based company plans to list on the NASDAQ under the symbol CNCE. UBS Investment Bank and Wells Fargo Securities are the joint bookrunners on the deal.
Eagle Pharmaceuticals (EGRX), which develops and sells enhanced injectable versions of expiring patented drug, plans to raise $50 million by offering 3.3 million shares at a price range of $14.00 to $16.00. At the midpoint of the proposed range, Eagle Pharmaceuticals would command a market value of $216 million. Eagle Pharmaceuticals, which was founded in 2007, booked $18 million in sales over the last 12 months. The Woodcliff Lake, NJ-based company plans to list on the NASDAQ under the symbol EGRX. Piper Jaffray and William Blair are the joint bookrunners on the deal.
Flexion Therapeutics (FLXN), which is developing sustained-release injectable pain therapies for osteoarthritis, plans to raise $65 million by offering 5.0 million shares at a price range of $12.00 to $14.00. At the midpoint of the proposed range, Flexion Therapeutics would command a market value of $192 million. Flexion Therapeutics, which was founded in 2007, booked $0 million in sales over the last 12 months. The Burlington, MA-based company plans to list on the NASDAQ under the symbol FLXN. BMO Capital Markets and Wells Fargo Securities are the joint bookrunners on the deal.
Inogen (INGN), which sells portable oxygen concentrators for patients suffering from chronic respiratory conditions, plans to raise $75 million by offering 4.4 million shares at a price range of $16.00 to $18.00. At the midpoint of the proposed range, Inogen would command a market value of $346 million. Inogen, which was founded in 2001, booked $70 million in sales over the last 12 months. The Goleta, CA-based company plans to list on the NASDAQ under the symbol INGN. J.P. Morgan and Leerink Partners are the joint bookrunners on the deal.
Installed Building Products (IBP), the second largest new residential insulation installer in the US, plans to raise $135 million by offering 9.0 million shares at a price range of $14.00 to $16.00. At the midpoint of the proposed range, Installed Building Products would command a market value of $432 million. Installed Building Products, which was founded in 1977, booked $404 million in sales over the last 12 months. The Columbus, OH-based company plans to list on the NYSE under the symbol IBP. Deutsche Bank and UBS Investment Bank are the joint bookrunners on the deal.
NephroGenex (NRX), a clinical-stage biotech developing treatments for diabetic nephropathy, plans to raise $40 million by offering 3.1 million shares at a price range of $12.00 to $14.00. At the midpoint of the proposed range, NephroGenex would command a market value of $115 million. NephroGenex, which was founded in 2004, booked $0 million in sales over the last 12 months. The Research Triangle Park, NC-based company plans to list on the NASDAQ under the symbol NRX. Aegis Capital is the lead bookrunner on the deal.
Talmer Bancorp (TLMR), a WL Ross-backed regional bank with 94 branches in the Midwest, plans to raise $210 million by offering 15.6 million shares at a price range of $12.50 to $14.50. At the midpoint of the proposed range, Talmer Bancorp would command a market value of $1.0 billion. Talmer Bancorp, which was founded in 2007, booked $153 million in sales over the last 12 months. The Troy, MI-based company plans to list on the NASDAQ under the symbol TLMR. Keefe Bruyette Woods and J.P. Morgan 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 10 IPO pricings. Revance Therapeutics (RVNC), a clinical-stage biotech developing a non-injectable formulation of botulinum toxin, was the week's winner, ending up 75% from its IPO price.
