The following
IPOs are expected to price this week:
Boingo Wireless (
WIFI), a leading provider of mobile Wi-Fi software and services with 325,000 hotspots, plans to raise $75 million by offering 5.8 million shares at a price range of $12 to $14. At the mid-point of the proposed range, Boingo Wireless will command a market value of $486 million. Boingo Wireless, which was founded in 2001, booked $80 million in sales over the last 12 months. The Los Angeles, CA-based company plans to list on the NASDAQ under the symbol WIFI. Credit Suisse and Deutsche Bank Securities are the lead underwriters on the deal.
NetQin Mobile Inc. (
NQ), which provides Internet security to mobile users, primarily in China, plans to raise $75 million by offering 7.1 million ADSs at a price range of $9.50 to $11.50. At the mid-point of the proposed range, NetQin Mobile will command a market value of $475 million. NetQin Mobile was founded in 2005 and booked $18 million in sales over the last 12 months. The Beijing-based company plans to list on the NYSE under the symbol NQ. Piper Jaffray is the lead underwriter on the deal.
Renren Inc. (
RENN), which operates the leading online social network in China with 117 million users, plans to raise $690 million by offering 53.1 million ADSs at a price range of $9 to $11. At the mid-point of the proposed range, Renren will command a market value of $5.4 billion. Renren, which was founded in 2002, booked $77 million in sales over the last 12 months. The Beijing ,China-based company plans to list on the NYSE under the symbol RENN. Morgan Stanley, Deutsche Bank Securities, and Credit Suisse are the lead underwriters on the deal.
RPX Corporation (
RPXC), which acquires and licenses client patent assets to defend against patent trolls, plans to raise $124 million by offering 7.3 million shares at a price range of $16 to $18. At the mid-point of the proposed range, RPX Corporation will command a market value of $853 million. RPX Corporation, founded in 2008, booked $95 million in sales over the last 12 months. The San Francisco, CA-based company plans to list on the NASDAQ under the symbol RPXC. Goldman, Sachs & Co. and Barclays Capital are the lead underwriters on the deal.
Thermon Group Holdings, Inc. (
THR), a global provider of highly engineered thermal solutions for process industries, plans to raise $130 million by offering 10 million shares at a price range of $12 to $14. At the mid-point of the proposed range, Thermon Group will command a market value of $398 million. Thermon Group, which was founded in 1954, booked $229 million in sales over the last 12 months. The San Marcos, TX-based company plans to list on the NYSE under the symbol THR. Barclays Capital and Jefferies & Co. are the lead underwriters on the deal.
Universal Business Payment Solutions Acquisition (
UBPS-U), a blank check company led by executives with experience in retail banking and payment solutions, plans to raise $72 million by offering 12 million shares at a price of $6. Upon completion, Universal Business Payment Solutions Acquisition will command a market value of $72 million. The Radnor, PA-based company plans to list on the NASDAQ under the symbol UBPS-U. EarlyBird Capital, Inc. and Rodman & Renshaw are the lead underwriters on the deal.
VOC Energy Trust (
VOC), a trust with a net profits interest in oil/natural gas properties in Kansas and Texas held by Vess Oil, plans to raise $222 million by offering 10.8 million trust units at a price range of $19 to $21. At the mid-point of the proposed range, VOC Energy Trust will command a market value of $340 million. VOC Energy Trust, which was founded in 2010, booked $63 million in sales over the last 12 months. The Austin, TX-based company plans to list on the NYSE under the symbol VOC. Raymond James and Morgan Stanley are the lead underwriters on the deal.