IPO News This Week: Another Week with 10 More Firms Seeking Entry into the Capital Markets

There were 10 initial public offerings (IPOs) on the calendar last week and 10 firms succeeded in gaining access to the public markets although a couple of those scheduled were delayed and a couple of others stepped up. The total amount raised reached a combined $1.6 billion and the average first-day pop was around 10%, a bit below the 13% average, but none of last week's IPOs broke issue and closed lower than the offering price.

There are 10 more IPO's on the coming week's calendar and they are looking to raise a combined total of about $1.9 billion. This is the last big week for IPOs before Thanksgiving and probably the last for the year.

Here's a recap of last week's IPOs:

CBTX Inc. (CBTX) raised $62 million on the sale of 2.4 million shares at $26, the high end of the expected range. Shares popped 10% on the IPO and closed the week up 12%.

Meridian Bank (NASDAQ:MRBK) raised $40 million on the sale of 2.4 million shares at $17, the low end of the expected range. Shares popped 7% on the Friday IPO.

Sogou Inc. (SOGO) sold 45 million shares at $13, the high end of the expected range, raising $585 million. Shares popped 4% on the IPO and closed the week up 7%.

Erytech Pharmaceuticals (ERYP) raised $109 million on the sale of 4.7 million shares priced at $23.26. Shares popped 6.4% on the Friday IPO.

Bandwidth Inc. (BAND) ) raised $80 million on the sale of 4 million shares at $20 a share, the low end of the range. Shares popped 6% on the Friday IPO.

Metropolitan Bank Holding (MCB) raised $109 million on the sale of 3.1 million shares at $ 35, above the expected range. Shares added 6% on the Friday IPO.

PPDAI Group Inc. (PPDF) raised $221 million on an offering of 17 million shares at $13, below the expected range. Shares added 1% on the IPO on the Friday IPO.

Apellis Pharmaceuticals Inc. (APLS) raised $150 million on the sale of 10.7 million shares at $14, the mid-point of the expected range. Shares closed flat on the Thursday IPO and flat for the week.

Four Seasons Education (Cayman) Inc. (FEDU) raised $101 million on its offering of 10.1 million shares prices at $10, the mid-point of the expected range. Shares dropped 5% on the IPO and closed the week flat.

InflaRX (IFRX) raised $100 million on the sale of 6.7 million shares at $15, the mid-point of the expected range. Shares closed the week unchanged.

Through the week ending November 10, IPO ETF manager Renaissance Capital reported that 141 IPOs have priced in the U.S. so far this year, up nearly 47% year over year. Total proceeds raised through last week equaled $33.2 billion, up nearly 98% year over year.

For 2016, Renaissance Capital reported a total of 105 IPOs, down 38% year over year from 170 in 2015. Total 2016 proceeds amounted to $18.8 billion compared with a 2015 total of $30 billion. Renaissance Capital does not include “best efforts” or blank-check companies in its totals, nor does it include IPOs that raise less than $10 million.

Here are the 10 companies seeking a place in the public markets next week.

SendGrid Inc. is a cloud-based digital communications platform for businesses. The company plans to offer 7.7 million shares in an expected price range of $13.50 to $14.50 to raise $112 million at a market cap of $584 million. Underwriters are Morgan Stanley, J.P. Morgan, William Blair, KeyBanc Capital Markets, Piper Jaffray, and Stifel. Shares are set to price Tuesday and begin trading Wednesday on the New York Stock Exchange under the ticker symbol SEND.

ALSO READ: America's Best States to Live In

Arsanis Inc. is a clinical-stage biopharmaceutical company developing monoclonal antibody immunotherapies for serious infectious diseases. The company plans to offer 3.1 million shares in an expected price range of $15 to $17 to raise $15 million. Underwriters are Citi, Cowen & Co., and Piper Jaffray. Shares are expected to price Wednesday and begin trading Thursday on the Nasdaq under the ticker symbol ASNS.

Jianpu Technology Inc. is an online consumer loan and credit platform based in Beijing. The company plans to offer 22.5 million shares in an expected price range of $8.50 to $10.50 to raise $214 million at a market cap of $1.6 billion. Underwriters are Goldman Sachs (Asia), Morgan Stanley, J.P. Morgan, and China Renaissance. Shares are expected to price Wednesday and begin trading Thursday on the New York Stock Exchange under the ticker symbol JT.

MPM Holdings Inc. is a producer of specialty silicones and other chemical additives. The company plans to sell 14.6 million shares in an expected price range of $23 to $25 to raise $350 million at a market cap of $1.4 billion. Shares already trade on the OTCQX market place under the ticker symbol MPMQ. Underwriters include J.P. Morgan, Goldman Sachs, Credit Suisse, Deutsche Bank, UBS Investment Bank, Wells Fargo Securities, and BMO Capital Markets. Shares are expected to price Wednesday and begin trading Thursday on the New York Stock Exchange under the ticker symbol MPMH.

Bluegreen Vacations Corp. sells timeshares and manages resorts in the United States. The company plans to offer 6.5 million shares in an expected price range of $16 to $18 to raise $111 million at a market cap of $1.3 billion. Underwriters are Stifel, Credit Suisse, BofA/Merrill Lynch, and SunTrust Robinson Humphrey. Shares are set to price Thursday and begin trading Friday on the New York Stock Exchange under the ticker symbol BXG.

Legacy Acquisition Corp. is a blank-check company seeking to make its first acquisition. The company plans to offer 30 million units at $10 per unit to raise $300 million at a market cap of $375 million. Each unit consists of one share of common stock and one warrant to purchase one-half of one share exercisable at $11.50. Underwriters are Wells Fargo Securities, Cantor Fitzgerald, Stifel, and Loop Capital Markets. Units are set to price Thursday and begin trading Friday on the New York Stock Exchange under the ticker symbol LGCU.

Molino Cañuelas SACIFIA is a leading Argentina-based food producer. The company plans to offer 19.5 million shares in an expected range of $14 to $16 to raise $293 million at a market cap of $940 million. Underwriters are J.P. Morgan, UBS Investment Bank, HSBC Corp., and ITAU BBA. Shares are expected to price Thursday and begin trading Friday on the New York Stock Exchange under the ticker symbol MOLC.

Sailpoint Technologies Holdings Inc. is a provider of identity governance software for enterprise clients. The company plans to offer 20 million shares in an expected price range of $9 to $11 to raise $200 at a market cap of $896 million. Underwriters are Morgan Stanley, Citi, Jefferies, RBC Capital Markets, KeyBanc Capital Markets, Canaccord Genuity, and Oppenheimer & Co. Shares are set to price Thursday and begin trading Friday on the New York Stock Exchange under the ticker symbol SAIL.

scPharmaceuticals Inc. is developing and commercializing an injectable version of an intravenous drug for heart failure. The company plans to offer 6.4 million shares in an expected price range of $14 to $16 to raise $96 million at a market cap of $264 million. Underwriters are Jefferies, Leerink Partners, and BMO Capital Markets. Shares are set to price Thursday and begin trading Friday on the Nasdaq under the ticker symbol SCPH.

Stitch Fix Inc. is an online personal style and clothing retailer. The company plans to offer 10 million shares in an expected price range of $18 to $20 to raise $190 million at a market cap of $1.8 billion. Underwriters are Goldman Sachs, J.P. Morgan, Barclays, RBC Capital Markets, Piper Jaffray, Stifel, and William Blair. Shares are set to price Thursday and begin trading Friday on the Nasdaq under the ticker symbol SFIX.

Source: https://goo.gl/g59Ley