The following IPOs are expected to price this week:
Medical Transcription Billing (MTBC), which provides a SaaS platform for ambulatory care facilities, plans to raise $30 million by offering 3.0 million shares at a price range of $9.00 to $11.00. At the midpoint of the proposed range, Medical Transcription Billing would command a market value of $98 million. Medical Transcription Billing, which was founded in 2001, booked $11 million in sales over the last 12 months. The Somerset, NJ-based company plans to list on the NASDAQ under the symbol MTBC. Chardan Capital Markets, Aegis Capital Corp. and Summer Street Research Partners are the joint bookrunners on the deal.
Microlin Bio (MCLB), a diagnostic and therapeutics biotech focusing on microRNA and its role in oncology, plans to raise $28 million by offering 5.5 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. (Revised terms for the fourth time on 7/3/2014. Originally planned to offer 3.6 million common shares at a range of $6-$8.)
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. GlobeImmune (GBIM), which is developing therapeutic drugs for pancreatic cancer and hepatitis B and C, was the week's winner, ending up 19% from its IPO price.
