The shortened holiday week ahead will see two deals come to market, raising just over $100 million combined. Coming off 15 pricings in May, the seasonally strong June should see similar or improved market activity.
| Renaissance Capital's IPO Calendar - Week of 5/30/2016 | ||||
| Issuer Business |
Symbol Exchange |
Deal Size $mil |
Price Range Shares Filed |
Lead Manager(s) |
| NantHealth Culver City, CA |
NH Nasdaq |
$91 | $12.5 - $15.5 6,500,000 |
Jefferies Cowen & Company |
| Provides cloud-based healthcare data solutions to support clinical decisions. | ||||
| Sensus Healthcare Boca Raton, FL |
SRTSU Nasdaq |
$11 | $6.25 1,750,000 |
Northland Securities Neidiger, Tucker, Bruner |
| Sells low-energy x-ray systems for treating non-melanoma skin cancer and keloids. | ||||
NantHealth (NH) - Led by billionaire CEO Dr. Patrick Soon-Shiong, this healthcare IT company claims a $50 billion market opportunity for its SaaS-based data solutions. The company has a high cash burn ($36 million in MRQ) and an accumulated deficit of $324 million. Dr. Soon-Shiong is also the CEO of 2015 biotech IPO NantKwest (NK), down 70% since the offering. Insiders have indicated for 77% of the $91 million deal.
Sensus Healthcare (SRTSU) - The micro cap device maker is raising $11 million to expand its sales and marketing efforts of its non-surgical non-melanoma skin cancer treatment system. It is also paying a dividend to preferred shareholders.
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IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. The Renaissance IPO Index is down 4% year-to-date, while the S&P 500 is up 3%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Alibaba (BABA), Synchrony Financial (SYF) and Citizens Financial Group (CFG). The Renaissance International IPO Index is down 4% year-to-date, while ACWX is up 1%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include NN Group and Aena S.A. To find out if this is the best ETF for you, visit our IPO Investing page.
