After a stretch of inactivity following market volatility associated with the European Debt Crisis, US issuers are making up for lost time with a spate of new deals added to the calendar. On Monday, five companies were added (or amended their offerings) to the growing IPO calendar, bringing the total scheduled IPOs to 18. More deals could be added before the week is out.
Teavana Holdings (TEA), a retailer of tea and tea-related merchandise, announced terms for its IPO, detailing plans to raise $100 million by offering 7 million shares at a price range of $13 to $15. At the mid-point of the proposed range, Teavana will command a market value of $553 million. Teavana, plans to list on the NYSE under the symbol TEA. BofA Merrill Lynch and Goldman, Sachs & Co. are the lead underwriters on the deal
C&J Energy Services (CJES), which provides fracturing and tubing services for oil and gas E&P, ADSI), a US government-focused logistics company specializing in tactical and operational equipment, announced terms for its $204 million deal, offering 12 million shares at a price range of $16 to $18. At the mid-point of the proposed range, ADS Tactical will command a market value of $909 million. ADS Tactical plans to list on the NYSE under the symbol ADSI. J.P. Morgan, Morgan Stanley, and Wells Fargo Securities are the lead underwriters on the deal
Skullcandy (SKUL), which sells fashion-forward headphones and related accessories in 70 countries, raised the proposed deal size for its upcoming IPO on Monday. The Park City, UT-based company now plans to raise $153 million by offering 8.5 million (51% insider) at a price range of $17 to $19. The company had previously filed to offer 8.3 million at the same range. The increase in shares to be sold is entirely attributed to existing shareholders. Skullcandy plans to list on the NASDAQ under the symbol SKUL. BofA Merrill Lynch and Morgan Stanley are the lead underwriters on the deal, which is expected to price this week.
American Midstream Partners (AMID) owns and operates a diversified portfolio of natural gas midstream assets. The Denver, CO-based company plans to raise $75 million by offering 3.8 million shares at a price range of $19 to $21. At the mid-point of the proposed range, American Midstream Partners, LP will command a market value of $181 million. American Midstream Partners, LP plans to list on the NYSE under the symbol AMID. Citi, BofA Merrill Lynch are the lead underwriters on the deal.
Assuming the current IPO deal schedule holds, July will host 19 IPOs, a significant increase from 9 IPOs in June and 10 IPOs in July 2010. Historically, July has been a quiet month for IPOs and not since July 2007, before the onset of the credit crisis, have there been so many pricings during the month, potentially making it the second most active July in a decade. The last time there were over 20 US IPOs in July was in 2004 when 25 new issues priced in the US. Notable IPOs from that period included Domino's Pizza (DPX) and chip maker Freescale (Freescale was subsequently taken private and completed a "re-IPO" in May 2011).
