PE-backed SolarWinds rolls out IPO

SolarWinds, a provider of IT management software, has debuted its IPO after pricing its 25 million shares at $15 per share. The stock began trading October 19, 2018 on the New York Stock Exchange under the ticker symbol “SWI.” Goldman Sachs, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Credit Suisse Securities (USA) LLC are the lead underwriters. SolarWind’s pre-IPO backers were Thoma Bravo and Silver Lake. PRESS RELEASE AUSTIN, TX – October 18, 2018 – SolarWinds, a leading provider of powerful and affordable IT management software, today announced the pricing of its initial public offering of 25,000,000 shares of its common stock at a price to the public of $15.00 per share. The shares are expected to begin trading on October 19, 2018 on the New York Stock Exchange (NYSE) under the ticker symbol “SWI,” and the offering is expected to close on
Continue reading "PE-backed SolarWinds rolls out IPO"

LogicBio goes public

Cambridge, Massachusetts-based LogicBio Therapeutics Inc, a genome editing company, has raised $70 million for its IPO after pricing its 7 million shares at $10 per share. The stock began trading October 19, 2018 on the NASDAQ under the ticker symbol “LOGC.” Jefferies, Barclays and William Blair are the lead underwriters. LogicBio’s pre-IPO backers include Arix Bioscience, OrbiMed, Edmond De Rothschild Investment Partners, Pontifax and SBI. PRESS RELEASE CAMBRIDGE, Mass., Oct. 18, 2018 (GLOBE NEWSWIRE) — LogicBio Therapeutics, Inc., a genome editing company focused on developing medicines to durably treat rare diseases in patients with significant unmet medical need, today announced the pricing of its initial public offering of 7,000,000 shares of common stock at a public offering price of $10.00 per share for aggregate gross proceeds of approximately $70.0 million. All of the shares are being offered by LogicBio. In addition, LogicBio has granted
™
™
Continue reading "LogicBio goes public"

VC-backed PhaseBio goes public

Pennsylvania-based PhaseBio Pharmaceuticals, a developer of treatments for orphan diseases, has raised $46 million for its IPO after pricing its 9.2 million shares at $5 per share. The stock began trading October 18, 2018 on the NASDAQ under the ticker symbol “PHAS.” Citigroup, Cowen and Stifel are the lead underwriters. PhaseBio’s pre-IPO backers included New Enterprise Associates, Hatteras Venture Partners, Johnson & Johnson and Fletcher Spaght Ventures. PRESS RELEASE MALVERN, Pa. and SAN DIEGO, Oct. 17, 2018 (GLOBE NEWSWIRE) — PhaseBio Pharmaceuticals, Inc. (“PhaseBio”), a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapies for orphan diseases, with an initial focus on cardiopulmonary, today announced the pricing of its initial public offering of 9,200,000 shares of common stock at a price to the public of $5.00 per share, for total gross proceeds of approximately $46.0 million. The shares are expected to begin
Continue reading "VC-backed PhaseBio goes public"

Brazilian fintech company Stone sets IPO pricing terms

StoneCo Ltd, a Brazilian provider of financial technology solutions, has priced its IPO of 47.7 million shares at a price between $21 and $23 per share. The company plans on listing the stock on the NASDAQ under the ticker symbol “STNE.” Goldman Sachs, J.P. Morgan Securities LLC and Citigroup Global Markets are the global coordinators on the IPO. Stone’s backers include Madrone Partners and Tiger Global. PRESS RELEASE SÃO PAULO, Brazil, Oct. 16, 2018 (GLOBE NEWSWIRE) — StoneCo Ltd. (“Stone” or the “Company”) today announced that it has launched its initial public offering of 47,727,273 of its Class A common shares, 40,909,091 of which are being offered by the Company and 6,818,182 of which are being offered by certain selling shareholders (the “Offering”) pursuant to a registration statement on Form F-1 filed with the U.S. Securities and Exchange Commission (“SEC”). In connection with the Offering,
Continue reading "Brazilian fintech company Stone sets IPO pricing terms"

VC-backed SI-BONE goes public

Santa Clara, California-based SI-BONE Inc, a medical device company, has debuted its IPO after pricing its 7.2 million shares at $15 per share. The stock began trading October 17, 2018 on the NASDAQ under the ticker symbol “SIBN.” Morgan Stanley and BofA Merrill Lynch are the lead underwriters. SI-BONE’s pre-IPO backers included Redline Capital Management, Orbimed, Novo A/S, Skyline Ventures and Montreux Equity Partners. PRESS RELEASE SANTA CLARA, Calif., Oct. 16, 2018 /PRNewswire/ — SI-BONE, Inc. (Nasdaq: SIBN) (“SI-BONE”), a medical device company that pioneered the minimally invasive surgical treatment of the sacroiliac joint with the iFuse Implant System®, today announced the pricing of its initial public offering of 7,200,000 shares of common stock at a price to the public of $15.00 per share. In addition, SI-BONE has granted the underwriters a 30-day option to purchase up to an additional 1,080,000 shares of common stock,
Continue reading "VC-backed SI-BONE goes public"

Riley Permian postpones IPO

Riley Exploration-Permian LLC has delayed its IPO due to “unfavorable equity market conditions.” Based in Oklahoma City, Riley Permian is an oil and natural gas company. The company’s backers include Yorktown Energy Partners. PRESS RELEASE OKLAHOMA CITY–(BUSINESS WIRE)–Riley Exploration-Permian, LLC (“Riley Permian” or the “Company”) announced today that it has decided to postpone its planned initial public offering as a result of unfavorable equity market conditions and will continue to evaluate the proposed offering as market conditions develop. Important Information
A registration statement relating to these securities has been filed with, but has not yet been declared effective by, the Securities and Exchange Commission (the “SEC”). These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. The registration statement may be obtained free of charge at the SEC’s website at www.sec.gov. This press release shall
Continue reading "Riley Permian postpones IPO"

Uber IPO proposals value company at $120 billion: WSJ

(Reuters) – Ride-hailing company Uber Technologies Inc [UBER.UL] could be valued at $120 billion, when it finally goes public next year according to proposals made by U.S. banks bidding to run the offering, the Wall Street Journal reported on Tuesday. The proposed valuation of the company is about $50 billion more than the company’s most recent valuation, setting the stage for what would be one of the biggest listings ever. Reuters reported in late September that Goldman Sachs and Morgan Stanley were in pole position to secure top roles in Uber IPO. Uber and smaller rival Lyft’s initial public offerings, both expected in 2019, will test investor tolerance for money losing technology unicorns. Dara Khosrowshahi, who took over as chief executive last year, said in September that Uber was on track for a 2019 IPO, adding that he was not concerned if Lyft went public first because
Continue reading "Uber IPO proposals value company at $120 billion: WSJ"

Lyft selects JPMorgan, Credit Suisse for IPO in 2019: Reuters

(Reuters) – Ride-hailing company Lyft Inc has chosen JPMorgan Chase & Co, Credit Suisse and Jefferies as underwriters for its initial public offering, slated for the first half of 2019, according to a person familiar with the matter. The source did not want to be identified because Lyft’s plans were still private. Reuters had earlier reported that Lyft was in talks with JPMorgan to lead its IPO, after rivals Goldman Sachs and Morgan Stanley decided not to pursue such a role out of loyalty to another IPO hopeful and Lyft’s larger competitor, Uber Technologies Inc. Earlier on Tuesday, the Wall Street Journal reported that Uber could be valued at $120 billion in its IPO, expected in 2019. JPMorgan declined to comment. Credit Suisse did not immediately respond to Reuters’ request for comment, while Jefferies was not available for a comment. Lyft also declined to comment. The two IPOs
Continue reading "Lyft selects JPMorgan, Credit Suisse for IPO in 2019: Reuters"

Advent starts preparations for IPO, sale of Addiko bank, say sources: Reuters

Private equity group Advent is starting preparations for an initial public offering or sale of its Vienna-based bank Addiko, which has a strong presence in the Balkans, people close to the matter said. The buyout group is working with Goldman Sachs and Citi on an exit process, which will primarily focus on a potential stock market listing, while also allowing suitors to bid for the lender which emerged from the collapse of Hypo Alpe Adria. Advent and Goldman Sachs declined to comment. Citi officials were not immediately available for comment. One of the sources said Addiko has a book value of around 850 million euros ($985 million), adding that an IPO or sale could take place next year. While, a potential valuation is unclear, European peers trade at an average of 0.85 times book value. Potential investors are expected to closely watch the listing of Slovenia’s state-owned Nova
Continue reading "Advent starts preparations for IPO, sale of Addiko bank, say sources: Reuters"

China’s Innovent Biologics looks to raise up to $422 million in HK IPO, say sources: Reuters

Chinese biotech firm Innovent Biologics is looking to raise up to $422 million in its Hong Kong IPO, three sources said, in what could be the biggest biotech IPO in the financial hub this year. Innovent, which is backed by mutual fund giant Fidelity and Singapore state investor Temasek, has set an indicative price range of HK$12.5-HK$14.00 ($1.59-$1.79) per share for its initial public offering (IPO), the sources said, giving the company a valuation of about $2 billion. It is the latest company looking to take advantage of new rules introduced by the Hong Kong stock exchange to woo early-stage drug developers, after Ascletis Pharma (1672.HK), Hua Medicine (2552.HK) and Nasdaq-listed BeiGene (6160.HK). Biotech firms with no profit or revenue are now allowed to go public in Hong Kong as the Chinese territory looks to attract more new-economy companies in its competition for
Continue reading "China’s Innovent Biologics looks to raise up to $422 million in HK IPO, say sources: Reuters"

SoftBank picks Nomura, Goldman, three others to lead mobile unit’s IPO, says source: Reuters

SoftBank Group Corp has chosen five investment banks, including units of Nomura Holdings Inc and Goldman Sachs, as lead underwriters for the mammoth initial public offering of its mobile-phone unit, a person with direct knowledge of the matter said on Friday. The other institutions are Mizuho Financial Group Inc, Deutsche Bank AG and the SMBC Nikko Securities Inc unit of Sumitomo Mitsui Financial Group Inc, the source told Reuters, on condition of anonymity as the deal is not public. Media representatives for SoftBank and the financial institutions declined to comment. Bloomberg News reported Friday that the Japanese investment and technology firm aims to sell around 3 trillion yen ($27 billion) of shares, the biggest IPO ever, listing on the Tokyo Stock Exchange in December. An IPO of that scale would be the biggest ever, topping the $25 billion worth of shares sold by China’s Alibaba in New York
Continue reading "SoftBank picks Nomura, Goldman, three others to lead mobile unit’s IPO, says source: Reuters"

Ukraine’s Allseeds plans overseas listing, says CEO: Reuters

Allseeds, which operates one of Ukraine’s largest multi seed oil extraction plants, plans to list its business overseas in the next four years, its chief executive told Reuters. Ukraine is the world’s largest sunflower oil exporter and among the leading exporters of wheat, corn and barley. Allseeds would become the first Ukrainian company since 2012 to hold an overseas Initial Public Offering (IPO) and the first agribusiness since 2011. “Our plan is to hold an IPO in the next four years. We are considering Singapore, Hong Kong, Toronto. The company’s structures are ready for the IPO,” Viacheslav Petryshche said in an interview. FMO, the Dutch development bank, and private equity firm Diligent Capital Partners, jointly own 16 percent of Allseeds. “Allseeds has an ambitious expansion strategy of becoming an agri-processing and logistics hub which would require over $200 million of investment over the upcoming years,” Dan Pasko, DCP’s Co-Managing
Continue reading "Ukraine’s Allseeds plans overseas listing, says CEO: Reuters"

Lithium producer Livent falls 3.6 percent in market debut: Reuters

Lithium producer Livent Corp (LTHM.N) fell 3.6 percent in its market debut on Thursday after being priced at the lower end of its expected range, as investors worried about the recent declines in prices of lithium in China, the world’s largest consumer of the ultralight metal. Livent’s debut comes a day after the major U.S. indices fell about 3 percent each, unnerving investors and pushing them to the sidelines. At its open Livent had a market capitalization of $2.34 billion. The company’s IPO of 20 million shares was priced at $17 per share on Wednesday, below its target range of $18 to $20 per share. The IPO raised $340 million. Prices of lithium, a key ingredient in rechargeable batteries used in electric vehicles, have halved in China this year from their peak of $24,750 per ton due to oversupply, hurting near-term earnings prospects for lithium producers.
Continue reading "Lithium producer Livent falls 3.6 percent in market debut: Reuters"

VC-backed Allogene Therapeutics goes public

South San Francisco-based Allogene Therapeutics, a biotech company focused on cancer treatment, has raised $324 million after pricing its 18 million shares at $18 per share. The stock began trading October 11, 2018 on the NASDAQ under the ticker symbol “ALLO.” Goldman Sachs, J.P. Morgan Securities LLC, Cowen and Company and Jefferies LLC are the lead underwriters. Allogene’s pre-IPO backers included Vida Ventures. PRESS RELEASE SOUTH SAN FRANCISCO, Calif.–(BUSINESS WIRE)–Allogene Therapeutics, Inc., a clinical-stage biotechnology company pioneering the development of allogeneic CAR T(AlloCAR T™) therapies for cancer, today announced the pricing of its initial public offering of 18,000,000 shares of its common stock at a price to the public of $18.00 per share. The gross proceeds to Allogene Therapeutics from the offering, before deducting the underwriting discounts and commissions and offering expenses, are expected to be $324.0 million. The shares are expected
™
Continue reading "VC-backed Allogene Therapeutics goes public"

Bain Capital Specialty Finance files for IPO, to list on NYSE: Reuters

Global asset manager Bain Capital’s specialty finance arm on Tuesday filed for an initial public offering, seeking to list on the New York stock exchange under the symbol “BCSF”. The company set a placeholder amount of $100 million to indicate the size of the IPO. The amount of money a company says it plans to raise in its first IPO filing is used to calculate registration fees. The final size of the IPO could be different. Bain Capital Specialty Finance reported total investment income of about $40 million for the six months ended June 30, nearly six times what it had earned a year ago, over the same period. The company focuses on lending to middle market companies which have annual core earnings (EBITDA) between $10 million and $150 million. From the day it commenced operations, in October 2016 to June 30, 2018, it has invested around $1.37
Continue reading "Bain Capital Specialty Finance files for IPO, to list on NYSE: Reuters"

VC-based PhaseBio sets IPO pricing terms

PhaseBio Pharmaceuticals Inc, a developer of new treatments for orphan diseases, has priced its IPO Of 5 million shares between $12 and $14 per share. PhaseBio will trade the stock on the NASDAQ under the ticker symbol “PHAS.” Citigroup, Cowen and Stifel are the lead underwriters. PhaseBio’s backers include Rock Springs Capital, Johnson & Johnson Innovation – JJDC, Mountain Group Capital, Cormorant Asset Management, Hatteras Venture Partners and New Enterprise Associates, according to Crunchbase. PRESS RELEASE Malvern, PA, and San Diego, CA, October 8, 2018 — PhaseBio Pharmaceuticals, Inc. (“PhaseBio”), a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapies for orphan diseases, with an initial focus on cardiopulmonary disorders, today announced that it has launched the roadshow for the initial public offering of its common stock. PhaseBio is offering 5,000,000 shares of its common stock at an expected initial public offering price between $12.
Continue reading "VC-based PhaseBio sets IPO pricing terms"

Century-old Thai energy drinks maker Osotspa to give bourse an IPO boost: Reuters

Energy drinks maker Osotspa Pcl (OSP.BK) on Friday priced the initial public offering of its shares at the high end of the proposed range, valuing the century-old company at 75 billion baht ($2.29 billion) in the largest corporate listing in Thailand this year. Osotspa priced shares at the top end of its 22 baht-25 baht price range and will use proceeds of 12.7 billion baht to pay debt and build a new factory in Myanmar, its second largest market after Thailand, its president Wannipa Bhakdibutr said. The 127-year-old company, best known for the M150 and Shark energy brands, will also give Thai listings a boost in a slow year for new floats. So far this year, total listings added only 23 billion baht to market capitalization at IPO price, compared with 426 billion for 2017, exchange data showed. “IPOs like this are valuable because not many companies
Continue reading "Century-old Thai energy drinks maker Osotspa to give bourse an IPO boost: Reuters"

Online furniture retailer Westwing to price IPO in upper half of range: Reuters

Westwing, the “home and living” company backed by Germany’s Rocket Internet, is expected to price its initial public offering in the upper half of its indicative price range, one of the bookrunners organizing the flotation said on Friday. The bank advised investors to expect an offer price of 26 to 29 euros a share, compared with an initial range of 23 to 29 euros. It added that the books were covered throughout the revised price range. Citing strong demand, Westwing has already brought forward the listing date by two days to Oct. 9. The company, founded by former Elle journalist Delia Fischer, is seeking to raise up to 147 million euros ($169 million), giving it a market capitalization of up to 597 million euros, as it taps into the desires of aspirational consumers – mainly women – with its online shopping club concept.

Kodiak debuts IPO

Palo Alto, California-based Kodiak Sciences Inc, a biopharmaceutical company focused on treating chronic, high-prevalence retinal diseases, has debuted its IPO after pricing its 9 million shares at $10 per share. The stock began trading October 4, 2014 on the NASDAQ under the ticker symbol “KOD.” Morgan Stanley and BofA Merrill Lynch are the lead underwriters. Kodiak’s pre-IPO backers include ArrowMark Partners and Perceptive Advisors, according to Crunchbase. PRESS RELEASE PALO ALTO, Calif., Oct. 3, 2018 /PRNewswire/ — Kodiak Sciences Inc. (“Kodiak”) today announced the pricing of its initial public offering of 9,000,000 shares of its common stock at a price to the public of $10.00 per share. In addition, Kodiak has granted the underwriters a 30-day option to purchase up to an additional 1,350,000 shares of Kodiak’s common stock at the initial public offering price less the underwriting discount. Kodiak’s common stock is expected to
Continue reading "Kodiak debuts IPO"

VC-backed Guardant Health goes public

Redwood City, California-based Guardant Health, a liquid biopsy company, has raised $237.5 million for its IPO after pricing its 12.5 million shares at $19 per share. The stock began trading October 4, 2018 on the NASDAQ under the ticker symbol “GH.” J.P. Morgan Securities LLC and BofA Merrill Lynch are the lead underwriters. Guardant Health’s pre-IPO backers included SoftBank Vision Fund, Sequoia Capital, Khosla Ventures and Lightspeed Venture Partners. PRESS RELEASE REDWOOD CITY, Calif., Oct. 03, 2018 (GLOBE NEWSWIRE) — Guardant Health, Inc. (Nasdaq:GH) today announced the pricing of its initial public offering of 12,500,000 shares of common stock at a public offering price of $19.00 per share. All of the shares of common stock are being offered by Guardant Health. In addition, Guardant Health has granted the underwriters a 30-day option to purchase up to an additional 1,875,000 shares of common stock
Continue reading "VC-backed Guardant Health goes public"