There are 11 upcoming IPOs this week, including the biggest IPO of 2015 so far – Digicel Group Ltd. (NYSE: DCEL).
Digicel Group is a provider of wireless and business communication services in the Caribbean. The Bermuda-based firm boasts more than 14 million subscribers and is one of the largest mobile providers in the region.
Digicel posted $2.8 billion in revenue from March 2014 to March 2015. But investors worry about the company's lack of profitability after it swung from a profit of $44 million to a loss of $158 million in the last year. The Digicel IPO will raise $1.8 billion by selling 124 million shares at a $13 to $16 price range. It commands a $4.6 billion valuation and will start trading on Thursday, Oct. 9.
But that's not the only IPO on this week's calendar. Here are 10 more upcoming IPOs this week…
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10 More Upcoming IPOs This Week
Pure Storage Inc. (NYSE: PSTG) is a flash storage hardware company based in Mountain View, Calif. The company is the second "unicorn" – Silicon Valley's term for tech startups worth at least $1 billion – to go public in 2015 after Box Inc. (NYSE: BOX) in January. Pure Storage has grown faster than any other flash storage firm, reaching $300 million in revenue by its third year. But the company has also accumulated $455 million in debt due to its aggressive product marketing against industry leader EMC Corp. (NYSE: EMC). Pure Storage is set for a $425 million deal by offering 25 million shares at a $16 to $18 price range. It's valued at $3.9 billion and will debut on Wednesday, Oct. 7.
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CPI Card Group Inc. (Nasdaq: PMTS) is the largest provider of plastic credit and debit cards in the United States. With sales of $173 million during the first half of 2015, it controls 35% of the market for plastic credit and debit cards. Despite its dominant market position, growth is expected to slow as mobile payments eventually begin to replace credit cards. The CPI Card Group IPO will generate $300 million by selling 17.65 million shares at a price range of $16 to $18. It's valued at $867 million and will hit the market on Thursday, Oct. 8.
CytomX Therapeutics Inc. (Nasdaq: CTMX) is a preclinical biotech developing cancer immunotherapies. Its "Probody Platform" class of therapeutics targets tumors while reducing toxicity in surrounding tissue. The company is backed by a number of venture capital firms, including Third Rock Ventures and Fidelity. The last Third Rock-funded biotech to go public, Global Blood Therapeutics Inc. (Nasdaq: GBT), is up 11.3% since its August IPO. CytomX is set for a $100 million deal by offering 6.67 million shares at a $14 to $16 price range. It commands a $585 million valuation and will go public on Thursday, Oct. 8.
Strongbridge Biopharma Plc. (Nasdaq: SBBP) will raise $76 million by offering 4.25 million shares for $17.93 each. The late-stage biotech was delayed from last week and should start trading sometime this week.
Aclaris Therapeutics Inc. (Nasdaq: ACRS) will generate $75 million by selling 5 million shares at a price range of $14 to $16. The skin-related biotech will start trading on Wednesday, Oct. 7.
Allegiance Bancshares Inc. (Nasdaq: ABTX) is set to raise $60 million by offering 2.6 million shares at a $22 to $24 price range. The Houston-based bank will debut on Thursday, Oct. 8.
Sole Elite Group Ltd. (Nasdaq: SOLE) hopes to raise $33 million by offering 3 million shares at a price range of $10 to $12. After multiple delays, the Chinese shoe sole company plans to hit the market sometime this week.
SynCardia Systems Inc. (Nasdaq: TAHT) is set for a $28 million deal by selling 2.5 million shares at a price range of $10 to $12. The artificial heart manufacturer is delayed from last week and should hit the market this week.
Cerecor Inc. (Nasdaq: CERC) hopes to generate $27 million by offering 4.23 million shares at a $6 to $7 price range. The depressive disorder biotech hasn't listed a specific IPO date but is expected to go public sometime this week.
Fuling Global Inc. (Nasdaq: FORK) will raise $25 million by offering 5 million shares for $5 each. The Chinese producer of plastic cutlery will begin trading sometime this week.
Alex McGuire
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