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8 IPOs planned for the week of Apr 19
Analyst IPO Blog
IPOs are expected to price this week
Alimera Sciences (
), which is developing an injectable implant to treat eye diseases, plans to raise $96 million by offering 6 million shares at a price range of $15-$17. At the mid-point of the proposed range, Alimera will command a market value of $522 million. Alimera, which was founded in 2003, has yet to generate product revenue. The Alpharetta, GA-based company plans to list on the NASDAQ under the symbol ALIM. Credit Suisse and Citi are the lead underwriters on the deal.
), a Shell-oil backed developer of biocatalysts for biofuel and pharma applications, plans to raise $84 million by offering 6 million shares at a price range of $13-$15. At the mid-point of the proposed range, Codexis will command a market value of $546 million. Codexis, which was founded in 2002, booked $83 million in sales last year. The Redwood City, CA-based company plans to list on the NASDAQ under the symbol CDXS. Credit Suisse is the lead underwriter on the deal.
), which provides speech generating devices to assist people with disabilities, plans to raise $150 million by offering 9.4 million shares at a price range of $15-$17. At the mid-point of the proposed range, DynaVox will command a market value of $474 million. DynaVox, which was founded in 1983, booked $105 million in sales last year. The Pittsburgh, PA-based company plans to list on the NASDAQ under the symbol DVOX. Piper Jaffray and Jefferies & Co. are the lead underwriters on the deal.
Excel Trust (
), a self-managed retail REIT targeting value-oriented community properties, plans to raise $255 million by offering 15 million shares at a price range of $16-$18. At the mid-point of the proposed range, Excel Trust will command a market value of $271 million. Excel Trust, which was founded in 2009, booked $5 million in sales last year. The San Diego, CA-based company plans to list on the NYSE under the symbol EXL. Morgan Stanley, Barclays Capital and UBS Investment Bank are the lead underwriters on the deal.
Film Department Holdings (
), a recently formed independent movie production company, plans to raise $60 million by offering 6.5 million shares at a price range of $12-$14. At the mid-point of the proposed range, Film Department Holdings will command a market value of $136 million. Film Department Holdings, which was founded in 2007, booked $40 million in sales last year. The West Hollywood, CA-based company plans to list on the NASDAQ under the symbol TFDI. Merriman Curhan Ford and IPO Solutions are the lead underwriters on the deal.
Global Geophysical Services (
), a provider of seismic data services to oil and gas exploration companies, plans to raise $184 million by offering 11.5 million t a price range of $15-$17. At the mid-point of the proposed range, Global Geophysical Services will command a market value of $574 million. Global Geophysical Services, which was founded in 2003, booked $313 million in sales last year. The Missouri City, TX-based company plans to list on the NYSE under the symbol GGS. Credit Suisse and Barclays Capital are the lead underwriters on the deal.
Mitel Networks (
), which provides IP-based telephony systems to small and medium sized enterprises, plans to raise $200 million by offering 10.5 million shares at a price range of $18-$20. At the mid-point of the proposed range, Mitel Networks will command a market value of $952 million. Mitel Networks, which was founded in 1972, booked $655 million in sales last year. The Ontario-based company plans to list on the NASDAQ under the symbol MITL. BofA Merrill Lynch, J.P. Morgan and UBS Investment Bank are the lead underwriters on the deal.
SPS Commerce (
), which provides on-demand supply chain management software, plans to raise $40 million by offering 3.3 million shares at a price range of $11-$13. At the mid-point of the proposed range, SPS Commerce will command a market value of $145 million. SPS Commerce, which was founded in 1987, booked $38 million in sales last year. The Minneapolis, MN-based company plans to list on the NASDAQ under the symbol SPSC. Thomas Weisel Partners is the lead underwriter on the deal.
Last week, there was 1
. Chatham Lodging Trust (
), a newly formed REIT focused on upscale extended-stay and select-service hotels, ended up 3% from its IPO price.
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