The following IPOs are expected to price this week:
Ambrx (AMBX), a biotech developing bio-conjugates to treat solid tumors and other diseases, plans to raise $70 million by offering 5.4 million shares at a price range of $12.00 to $14.00. At the midpoint of the proposed range, Ambrx would command a market value of $246 million. Ambrx, which was founded in 2003, booked $20 million in sales over the last 12 months. The La Jolla, CA-based company plans to list on the NASDAQ under the symbol AMBX. Stifel and Wells Fargo Securities are the joint bookrunners on the deal.
GlobeImmune (GBIM), which is developing therapeutic drugs for pancreatic cancer and hepatitis B and C, plans to raise $25 million by offering 1.6 million shares at a price range of $15.00 to $17.00. At the midpoint of the proposed range, GlobeImmune would command a market value of $84 million. GlobeImmune, which was founded in 1995, booked $22 million in sales over the last 12 months. The Louisville, CO-based company plans to list on the NASDAQ under the symbol GBIM. Aegis Capital is the lead bookrunner on the deal.
Investar Holding (ISTR), a southern Louisiana commercial bank with ten branches, plans to raise $46 million by offering 2.9 million shares at a price range of $15.00 to $17.00. At the midpoint of the proposed range, Investar Holding would command a market value of $110 million. Investar Holding, which was founded in 2006, booked $27 million in sales over the last 12 months. The Baton Rouge, LA-based company plans to list on the NASDAQ under the symbol ISTR. Sandler O'Neill is the sole bookrunner on the deal.
KineMed (KNMD), which develops biomarker tests that measure disease progression to improve commercial drugs, plans to raise $32 million by offering 4.5 million shares at a price range of $6.50 to $7.50. At the midpoint of the proposed range, KineMed would command a market value of $121 million. KineMed, which was founded in 2001, booked $7 million in sales over the last 12 months. The Emeryville, CA-based company plans to list on the NASDAQ under the symbol KNMD. Feltl and Company is the lead bookrunner on the deal.
Microlin Bio (MCLB), a diagnostic and therapeutics biotech focusing on microRNA and its role in oncology, plans to raise $30 million by offering 6.0 million shares at a price range of $4.50 to $5.50. At the midpoint of the proposed range, Microlin Bio would command a market value of $51 million. Microlin Bio, which was founded in 2013, booked $0 million in sales over the last 12 months. The New York, NY-based company plans to list on the NASDAQ under the symbol MCLB. Brean Capital and Summer Street Research Partners are the joint bookrunners on the deal.
Minerva Neurosciences (NERV), a clinical-stage biotech developing treatments for central nervous system diseases, plans to raise $60 million by offering 5.5 million shares at a price range of $10.00 to $12.00. At the midpoint of the proposed range, Minerva Neurosciences would command a market value of $187 million. Minerva Neurosciences was founded in 2007. The Cambridge, MA-based company plans to list on the NASDAQ under the symbol NERV. Jefferies is the lead bookrunner on the deal.
Taggares Agriculture (TAG), which operates vineyards and apple orchards in the Pacific Northwest, plans to raise $46 million by offering 7.0 million shares at a price range of $6.00 to $7.00. At the midpoint of the proposed range, Taggares Agriculture would command a market value of $54 million. Taggares Agriculture, which was founded in 1979, booked $8 million in sales over the last 12 months. The Kennewick, WA-based company plans to list on the NASDAQ under the symbol TAG. Janney Montgomery Scott and Roth Capital 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 11 IPO pricings. Amphastar Pharmaceuticals (AMPH), which produces difficult-to-manufacture injectable and inhalable drugs, was the week's winner, ending up 50% from its IPO price.
