The following IPOs are expected to price this week:
Chatham Lodging Trust (CLDT), a newly formed REIT focused on upscale extended-stay and select-service hotels, plans to raise $150 million by offering 7.5 million shares at a price of $20 per share. At the mid-point of the proposed range, Chatham will command a market value of $166 million. Chatham Lodging Trust, which was founded in 2009, booked $22 million in sales last year. The Palm Beach, FL-based company plans to list on the NYSE under the symbol CLDT. Barclays Capital and FBR Capital Markets are the lead underwriters on the deal.
Film Department Holdings (TFDI), a recently formed independent movie production company, plans to raise $60 million by offering 6.5 million shares at a price range of $12-$14. At the mid-point of the proposed range, Film Department Holdings will command a market value of $136 million. Film Department Holdings, which was founded in 2007, booked $40 million in sales last year. The West Hollywood, CA-based company plans to list on the NASDAQ under the symbol TFDI. Merriman Curhan Ford and IPO Solutions are the lead underwriters on the deal.
Last week, there were 2 IPO pricings. Tengion (TNGN), which is developing functional neo-organs using a patient's own cells, remained flat in its debut, while Metals USA (MUSA), the ninth largest metals distributor in the US, saw its stock fall almost -9%.
*Update: Film Department Holdings now scheduled to price the week of April 19th.
