The shortened holiday week ahead will see two deals come to market, raising just over $100 million combined. Coming off 15 pricings in May, the seasonally strong June should see similar or improved market activity.
| Renaissance Capital's IPO Calendar - Week of 5/30/2016 | ||||
| Issuer Business | Symbol Exchange | Deal Size $mil | Price Range Shares Filed | Lead Manager(s) |
| NantHealth Culver City, CA | NH Nasdaq | $91 | $12.5 - $15.5 6,500,000 | Jefferies Cowen & Company |
| Provides cloud-based healthcare data solutions to support clinical decisions. | ||||
| Sensus Healthcare Boca Raton, FL | SRTS Nasdaq | $11 | $6.25 1,750,000 | Northland Securities Neidiger, Tucker, Bruner |
| Sells low-energy x-ray systems for treating non-melanoma skin cancer and keloids. | ||||
NantHealth (Pending:NH) - Led by billionaire CEO Dr. Patrick Soon-Shiong, this healthcare IT company claims a $50 billion market opportunity for its SaaS-based data solutions. The company has a high cash burn ($36 million in MRQ) and an accumulated deficit of $324 million. Dr. Soon-Shiong is also the CEO of 2015 biotech IPO NantKwest (NASDAQ:NK), down 70% since the offering. Insiders have indicated for 77% of the $91 million deal.
Sensus Healthcare (NASDAQ:SRTS) - The micro cap device maker is raising $11 million to expand its sales and marketing efforts of its non-surgical non-melanoma skin cancer treatment system. It is also paying a dividend to preferred shareholders.
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. The Renaissance IPO Index is down 4% year-to-date, while the S&P 500 is up 3%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Alibaba (NYSE:BABA), Synchrony Financial (NYSE:SYF) and Citizens Financial Group (NYSE:CFG). The Renaissance International IPO Index is down 4% year-to-date, while ACWX is up 1%. Renaissance Capital's International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include NN Group and Aena S.A.
By Renaissance Capital IPO Research
No comments:
Post a Comment