The following IPOs are expected to price this week:
Boingo Wireless (WIFI), a leading provider of mobile Wi-Fi software and services with 325,000 hotspots, plans to raise $75 million by offering 5.8 million shares at a price range of $12 to $14. At the mid-point of the proposed range, Boingo Wireless will command a market value of $486 million. Boingo Wireless, which was founded in 2001, booked $80 million in sales over the last 12 months. The Los Angeles, CA-based company plans to list on the NASDAQ under the symbol WIFI. Credit Suisse and Deutsche Bank Securities are the lead underwriters on the deal.
NetQin Mobile Inc. (NQ), which provides Internet security to mobile users, primarily in China, plans to raise $75 million by offering 7.1 million ADSs at a price range of $9.50 to $11.50. At the mid-point of the proposed range, NetQin Mobile will command a market value of $475 million. NetQin Mobile was founded in 2005 and booked $18 million in sales over the last 12 months. The Beijing-based company plans to list on the NYSE under the symbol NQ. Piper Jaffray is the lead underwriter on the deal.
Renren Inc. (RENN), which operates the leading online social network in China with 117 million users, plans to raise $690 million by offering 53.1 million ADSs at a price range of $9 to $11. At the mid-point of the proposed range, Renren will command a market value of $5.4 billion. Renren, which was founded in 2002, booked $77 million in sales over the last 12 months. The Beijing ,China-based company plans to list on the NYSE under the symbol RENN. Morgan Stanley, Deutsche Bank Securities, and Credit Suisse are the lead underwriters on the deal.
RPX Corporation (RPXC), which acquires and licenses client patent assets to defend against patent trolls, plans to raise $124 million by offering 7.3 million shares at a price range of $16 to $18. At the mid-point of the proposed range, RPX Corporation will command a market value of $853 million. RPX Corporation, founded in 2008, booked $95 million in sales over the last 12 months. The San Francisco, CA-based company plans to list on the NASDAQ under the symbol RPXC. Goldman, Sachs & Co. and Barclays Capital are the lead underwriters on the deal.
Thermon Group Holdings, Inc. (THR), a global provider of highly engineered thermal solutions for process industries, plans to raise $130 million by offering 10 million shares at a price range of $12 to $14. At the mid-point of the proposed range, Thermon Group will command a market value of $398 million. Thermon Group, which was founded in 1954, booked $229 million in sales over the last 12 months. The San Marcos, TX-based company plans to list on the NYSE under the symbol THR. Barclays Capital and Jefferies & Co. are the lead underwriters on the deal.
Universal Business Payment Solutions Acquisition (UBPS-U), a blank check company led by executives with experience in retail banking and payment solutions, plans to raise $72 million by offering 12 million shares at a price of $6. Upon completion, Universal Business Payment Solutions Acquisition will command a market value of $72 million. The Radnor, PA-based company plans to list on the NASDAQ under the symbol UBPS-U. EarlyBird Capital, Inc. and Rodman & Renshaw are the lead underwriters on the deal.
VOC Energy Trust (VOC), a trust with a net profits interest in oil/natural gas properties in Kansas and Texas held by Vess Oil, plans to raise $222 million by offering 10.8 million trust units at a price range of $19 to $21. At the mid-point of the proposed range, VOC Energy Trust will command a market value of $340 million. VOC Energy Trust, which was founded in 2010, booked $63 million in sales over the last 12 months. The Austin, TX-based company plans to list on the NYSE under the symbol VOC. Raymond James and Morgan Stanley are the lead underwriters on the deal.
