Getting in ahead of the July 4th holiday, nine companies launched IPOs on Monday.
Excluding SPACs, 22 deals are now on the IPO calendar for June (IPO Pro only: Master Calendar). If these are completed, June 2018 will have 28 IPOs, making it the busiest month since June 2015, a 36-month high in terms of IPO count.
All nine are coming next week, and combined they expect to raise $1.9 billion.
The new launches include two LBOs planning to raise over $500 million each: CVC/Leonard Green-backed retailer BJ's Wholesale (BJ) and KKR-backed landscaper BrightView (BV). IPO Pro only: View 2018 IPOs backed by private equity.
Adding to the biotech surge in the week ahead, three large biotechs set terms, each raising $100+ million: late-stage kidney disease biotech Tricida (TCDA), immuno-oncology developer Forty Seven (FTSV), and early-stage mRNA developer Translate Bio (TBIO).
Technology saw two launches. Tech is by far the hottest sector in the IPO market, with this year's offerings averaging a 91% return. Business intelligence provider Domo (DOMO) is a "fallen unicorn" being pitched at valuation of roughly one-quarter what it achieved privately three years ago. EverQuote (EVER) also has an unusual profile, operating an online auto insurance marketplace that grew 3% in 2017 and 28% in the 1Q18.
Dry bulk shipping company GoodBulk (GBLK) and micro-cap furniture company Lovesac (LOVE) round out the group.
