IPO Calendar - Week of 07/27/15

Company Name Ticker Shares Price Range Deal Size Top 2 Underwriters
TerraForm Global GLBL 56.6 mil $19.00 - $21.00 $1,131 mil J.P. Morgan
Barclays
Poseidon Containers Holdings PCON 15.4 mil $14.00 - $16.00 $231 mil Morgan Stanley
Deutsche Bank
NEP Group NEPG 13.0 mil $15.00 - $17.00 $208 mil Barclays
Morgan Stanley
vTv Therapeutics VTVT 7.8 mil $15.00 - $17.00 $125 mil Piper Jaffray
Stifel
RiverBanc Multifamily Investors RMI 3.8 mil $19.00 - $20.00 $74 mil Baird
Keefe Bruyette Woods
Intec Pharma* NTEC 4.5 mil $8.36 - $8.36 $38 mil Maxim Group LLC
Roth Capital
Aqua Metals AQMS 6.0 mil $5.00 - $5.00 $30 mil National Securities
Northland Securities
Xcel Brands* XELB 1.5 mil $10.00 - $11.00 $16 mil Wunderlich Securities
EyeGate Pharmaceuticals* EYEG 0.9 mil $15.00 - $15.00 $13 mil Aegis Capital Corp.
Chardan Capital Markets
Notes:
EyeGate Pharmaceuticals - *Currently trades on the OTCQB under the symbol EYEG. Postponed a $25 million NASDAQ IPO in late 2014 before listing on the OTCQB in February.
Intec Pharma - *Trades on the Tel Aviv Stock Exchange under the symbol INTP.
Xcel Brands - *Trades on the OTCQX under the symbol XELB.

IPO Calendar - Looking Ahead

Company Name Ticker Shares Price Range Deal Size Top 2 Underwriters
Sunrun RUN 17.9 mil $13.00 - $15.00 $251 mil Credit Suisse
Goldman Sachs
Philadelphia Energy Solutions PESC 15.2 mil $15.00 - $18.00 $250 mil BofA Merrill Lynch
Credit Suisse
Amplify Snack Brands BETR 15.0 mil $14.00 - $16.00 $225 mil Goldman Sachs
Jefferies
Planet Fitness PLNT 13.5 mil $14.00 - $16.00 $203 mil J.P. Morgan
BofA Merrill Lynch
Aimmune Therapeutics AIMT 8.3 mil $14.00 - $16.00 $125 mil BofA Merrill Lynch
Credit Suisse
GC Aesthetics GCAA 5.4 mil $13.00 - $15.00 $75 mil BofA Merrill Lynch
Deutsche Bank
Benitec Biopharma* BNTC 5.0 mil $13.06 - $13.06 $65 mil BMO Capital Markets
Maxim Group LLC
Zynerba Pharmaceuticals ZYNE 3.0 mil $13.00 - $15.00 $42 mil Jefferies
Piper Jaffray
Boxlight BOXL 1.8 mil $10.00 - $12.00 $20 mil Aegis Capital Corp.

Notes:
Benitec Biopharma - *Trades on the Australian Securities Exchange under the symbol BLT.
For a more in-depth calendar, please inquire about our institutional research service.
IPOs For Everyone Obtain Investor PacketAccess Your AccountInvest Online Today
ETF Express Award: ETFExpress awards are based on a 'peer review system' whereby readers - including institutional and high net worth investors as well as managers and other industry professionals at fund administrators, brokers, custodians and advisers - are invited to elect a 'best in class' in a series of categories via an online survey. In each category, the firms with the most votes at the end of the voting period are subject to a final review by ETFExpress's Senior Editorial team.

Performance Disclosure: Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Investors should consider the investment objectives, risks, charges and expenses carefully before investing.

As stated in the Prospectus, the total annual operating expenses for the Fund was 3.48%. The Adviser has contractually agreed to keep net expenses from exceeding 2.50% of the Fund's average daily net assets for at least a year from the date of the Prospectus and for an indefinite period thereafter subject to annual re-approval of the agreement by the Board of Trustees.

An investor cannot invest directly in an index. Index returns do not represent Fund returns. The Index does not charge management fees or brokerage expenses, nor does the Index lend securities, and no revenues from securities lending were added to the performance shown.

Definitions: Net Asset Value (NAV) of the fund is calculated by dividing the total value of all the securities in its portfolio, less any liabilities, by the number of fund shares outstanding. Market Price is current value at which an asset or service can be bought or sold. Premium/Discount is provided to show the comparison of the daily net asset value (NAV) and the midpoint of the closing bid/ask for each of the funds. The Renaissance IPO Index® (IPOUSA) is a stock market index based upon a portfolio of U.S.-listed newly public companies that includes securities prior to their inclusion in core U.S. equity portfolios. The Renaissance International IPO Index® (IPOXUS) is a stock market index based upon a portfolio of newly public companies listed on non-U.S. exchanges. The S&P 500® Index (SPX) is a stock market index based on the market capitalizations of 500 large companies whose common stock is publicly traded on the NYSE.

Risk Disclosure: Investments in the Renaissance IPO ETF, symbol "IPO", the Renaissance International IPO ETF, symbol "IPOS" (the "ETFs"), and the Global IPO Fund, symbol "IPOSX" (the "Mutual Fund") are subject to investment risk, including possible loss of the principal amounts invested. The ETFs and the Mutual Fund (the "Funds") invest in companies that have recently completed initial public offerings. These stocks are unseasoned equities lacking trading history, a track record of reporting to investors and widely available research coverage which many result in extreme price volatility. Due to a greater number of IPOs in certain segments, the Funds may also be subject to information technology and financial sector risk, small and mid-capitalization company risk, and, for the Renaissance International IPO ETF, emerging markets risk. The Funds may hold securities in the form of Depository Receipts, REITs, and Partnership Units which have greater risks than common shares. The strategies have high portfolio turnover and securities lending risks. The returns of the ETFs may not match the return of the respective indices. The ETFs are classified as non-diversified investment companies subject to concentration risk.

Prospectus: Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus and/or summary prospectus with this and other information, please visit www.renaissancecapital.com. Read the prospectus carefully before investing. Renaissance Capital Investments, Inc., distributor for the Mutual Fund. Foreside Fund Services, LLC, distributor for the ETFs, 1-866-486-6645.

Definitions: The Renaissance IPO Index® is a stock market index based upon a portfolio of U.S.-listed newly public companies that includes securities prior to their inclusion in core U.S. equity portfolios. The S&P 500® Index is a stock market index based on the market capitalizations of 500 large companies whose common stock is publicly traded on the NYSE.

Attribution Policy: The information contained herein is proprietary and copyrighted. The media is welcome to use our information and ideas, provided that the following sourcing is included: Renaissance Capital - manager of IPO-focused ETFs.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO), the Renaissance International IPO ETF (symbol: IPOS), or the Global IPO Fund (symbol: IPOSX), may have investments in securities of companies mentioned.