Following the debut of seven IPOs last week, marking the busiest IPO week since December 2007, four additional deals are queued up for this week. Talecris Biotherapeutics (TLCR), one of the world's largest manufacturers of plasma-derived protein therapies for treating chronic and acute diseases, will be the largest offering for the week. Led by Morgan Stanley, Goldman Sachs, and Citi, the company plans to raise $850 million by offering 44.7 million shares at a price range of $18.00 to $20.00. Echo Global Logistics (ECHO), which provides technology-enabled shipping and freight management services, plans to raise $80 million by offering 5,700,000 at a price range of $13.00 to $15.00. Morgan Stanley and Credit Suisse are the lead underwriters on the deal.
Education Management (EDMC), a provider of campus-based and online postsecondary education programs, expects to raise $380 million by offering 20,000,000 shares at a price range of $18.00 to $20.00. At the mid-point of the proposed range, Education Management will command a market value of $2.7 billion. Goldman Sachs, J.P. Morgan, and BofA Merrill Lynch are among the lead underwriters on the deal, which is expected to price on Thursday, October 1. Two other online education companies recently announced plans for secondaries. Grand Canyon Education (LOPE), which priced its IPO back in November 2008, filed to sell 8 million shares, almost 90% of which are being offered by insiders. Bridgepoint Education (BPI), an April 2009 IPO, filed to sell 11 million shares in an all-insider secondary offering.
Ladder Capital Realty Finance (LGC), a newly-organized REIT that plans to invest in commercial real estate loans and senior CMBS, plans to raise $400 million by offering 20 million shares at $20, which would represent a market value of $513 million. J.P. Morgan, Wells Fargo Securities, and Citi are the lead underwriters on the deal. Last week's crop of seven included two mortgage REIT IPOs. Apollo Commercial (ARI) and Colony Financial (CLNY), both priced their offerings at $20, after halving their deal sizes on Wednesday, and promptly traded below their IPO price on Thursday. Fellow REIT Foursquare Capital (FSQR) had also planned an IPO for last week, but postponed its deal on Thursday.
