The following IPOs are expected to price this week:
Ambow Education Holding (AMBO), which provides education, test prep and IT career training services in China, plans to raise $117 million by offering 10.7 million ADSs at a price range of $10-$12. At the mid-point of the proposed range, Ambow Education will command a market value of $844 million. Ambow Education, which was founded in 2000, booked $146 million in sales over the last 12 months. The Beijing-based company plans to list on the NYSE under the symbol AMBO. J.P. Morgan and Goldman Sachs (Asia) L.L.C. are the lead underwriters on the deal.
D. Medical (DMED), a medical device company that develops and manufactures insulin pumps, plans to raise $30 million by offering 2.7 million shares at a price range of $10-$12. At the mid-point of the proposed range, D. Medical will command a market value of $98 million. D. Medical, which was founded in 1992, has yet to generate product revenue. The Israel-based company plans to list on the NASDAQ under the symbol DMED. Rodman & Renshaw and ThinkEquity are the lead underwriters on the deal.
Gordmans Stores (GMAN), an everyday low price fashion retailer operating 68 stores in the Midwest, plans to raise $75 million by offering 5.4 million shares at a price range of $13-$15. At the mid-point of the proposed range, Gordmans Stores will command a market value of $262 million. Gordmans Stores, which was founded in 1915, booked $458 million in sales over the last 12 months. The Omaha, NE-based company plans to list on the NASDAQ under the symbol GMAN. Piper Jaffray and Wells Fargo Securities are the lead underwriters on the deal.
IntraLinks Holdings (IL), which provides secure online document management to over 4,300 customers, plans to raise $165 million by offering 11 million shares at a price range of $14-$16. At the mid-point of the proposed range, IntraLinks will command a market value of $767 million. IntraLinks, which was founded in 1996, booked $141 million in sales over the last 12 months. The New York, NY-based company plans to list on the NYSE under the symbol IL. Morgan Stanley, Deutsche Bank Securities and Credit Suisse are the lead underwriters on the deal.
NuPathe (PATH), a specialty pharma seeking approval for Zelrix, a patch for migraine treatment, plans to raise $75 million by offering 5 million shares at a price range of $14-$16. At the mid-point of the proposed range, NuPathe will command a market value of $212 million. NuPathe, which was founded in 2005, has yet to generate product revenue. The Conshohocken, PA-based company plans to list on the NASDAQ under the symbol PATH. Leerink Swann and Lazard Capital Markets are the lead underwriters on the deal.
NXP Semiconductors (NXPI), a diversified global semiconductor company and former carve-out of Philips, plans to raise $663 million by offering 34 million shares at a price range of $18-$21. At the mid-point of the proposed range, NXP Semiconductors will command a market value of $4.9 billion. NXP Semiconductors, which was founded in 1953, booked $3.8 billion in sales over the last 12 months. The Netherlands-based company plans to list on the NASDAQ under the symbol NXPI. Credit Suisse, Goldman, Sachs & Co. and Morgan Stanley are the lead underwriters on the deal.
Trius Therapeutics (TSRX), which is developing an antibiotic for serious gram-positive Staph infections, plans to raise $78 million by offering 6 million shares a price range of $12-$14. At the mid-point of the proposed range, Trius Therapeutics will command a market value of $217 million. Trius Therapeutics, which was founded in 2004, booked $5 million in sales over the last 12 months. The San Diego, CA-based company plans to list on the NASDAQ under the symbol TSRX. Citi, Piper Jaffray and Canaccord Genuity are the lead underwriters on the deal.
Last week, there were 3 IPO pricings. Envestnet (ENV), which provides outsourced web-based investment solutions to financial advisors, was the week's winner, ending up 12% from its IPO price.
