The following IPOs are expected to price this week:
A10 Networks (ATEN), which provides software-based appliances that optimize data center performance, plans to raise $175 million by offering 12.5 million shares at a price range of $13.00 to $15.00. At the midpoint of the proposed range, A10 Networks would command a market value of $925 million. A10 Networks, which was founded in 2004, booked $142 million in sales over the last 12 months. The San Jose, CA-based company plans to list on the NYSE under the symbol ATEN. Morgan Stanley, BofA Merrill Lynch and J.P. Morgan are the joint bookrunners on the deal.
Akebia Therapeutics (AKBA), a biotech developing a breakthrough anemia treatment with a once-daily oral dose, plans to raise $76 million by offering 4.9 million shares at a price range of $14.00 to $17.00. At the midpoint of the proposed range, Akebia Therapeutics would command a market value of $302 million. Akebia Therapeutics was founded in 2007. The Cambridge, MA-based company plans to list on the NASDAQ under the symbol AKBA. Morgan Stanley, Credit Suisse and UBS Investment Bank are the joint bookrunners on the deal.
Amber Road (AMBR), which provides cloud-based global trade management software, plans to raise $75 million by offering 6.5 million shares at a price range of $10.50 to $12.50. At the midpoint of the proposed range, Amber Road would command a market value of $314 million. Amber Road, which was founded in 1984, booked $53 million in sales over the last 12 months. The East Rutherford, NJ-based company plans to list on the NYSE under the symbol AMBR. Stifel and Pacific Crest are the joint bookrunners on the deal.
Borderfree (BRDR), which provides a software platform to support international e-commerce for US retailers, 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, Borderfree would command a market value of $499 million. Borderfree, which was founded in 1999, booked $110 million in sales over the last 12 months. The New York, NY-based company plans to list on the NASDAQ under the symbol BRDR. Credit Suisse and RBC Capital Markets are the joint bookrunners on the deal.
Globoforce (THNX), which provides cloud-based social recognition software solutions to enterprises, 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, Globoforce would command a market value of $471 million. Globoforce, which was founded in 1997, booked $187 million in sales over the last 12 months. The Dublin, Ireland-based company plans to list on the NASDAQ under the symbol THNX. J.P. Morgan, Credit Suisse, UBS Investment Bank and Stifel are the joint bookrunners on the deal.
MediWound (MDWD), which is developing treatments for severe burns and other hard-to-heal wounds, 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, MediWound would command a market value of $306 million. MediWound was founded in 2000. The Yavne, Israel-based company plans to list on the NASDAQ under the symbol MDWD. Credit Suisse, Jefferies & Co., BMO Capital Markets and Oppenheimer & Co. are the joint bookrunners on the deal.
Paylocity (PCTY), which provides cloud-based payroll and human capital management software, plans to raise $100 million by offering 6.7 million shares at a price range of $14.00 to $16.00. At the midpoint of the proposed range, Paylocity would command a market value of $765 million. Paylocity, which was founded in 1997, booked $91 million in sales over the last 12 months. The Arlington Heights, IL-based company plans to list on the NASDAQ under the symbol PCTY. Deutsche Bank, BofA Merrill Lynch and William Blair are the joint bookrunners on the deal.
Q2 Holdings (QTWO), which provides an online banking SaaS platform to community banks, plans to raise $93 million by offering 7.8 million shares at a price range of $11.00 to $13.00. At the midpoint of the proposed range, Q2 Holdings would command a market value of $433 million. Q2 Holdings, which was founded in 2005, booked $57 million in sales over the last 12 months. The Austin, TX-based company plans to list on the NYSE under the symbol QTWO. J.P. Morgan and Stifel are the joint bookrunners on the deal.
Versartis (VSAR), a biotech developing long-acting treatments for growth hormone deficiency, plans to raise $81 million by offering 4.6 million shares at a price range of $16.00 to $19.00. At the midpoint of the proposed range, Versartis would command a market value of $409 million. Versartis, which was founded in 2008, 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 VSAR. Morgan Stanley 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 5 IPO pricings. Castlight Health (CSLT), an on-demand software that helps self-insured employers control healthcare costs, was the week's winner, ending up 149% from its IPO price.
