FibroGen, which is developing treatments for anemia and fibrosis using a protein inhibitor platform, announced terms for its IPO on Thursday. The San Francisco, CA-based company plans to raise $124 million by offering 7.1 million shares at a price range of $16 to $19. At the midpoint of the proposed range, it would command a fully diluted market value of $1.1 billion.
Even if FibroGen prices 15% below the midpoint, it would still be the largest biotech IPO in the past 10 years by diluted market cap, surpassing mid-October IPO Forward Pharma ([FWP])
FibroGen's lead ...more
Axalta Coating Systems, a global manufacturer of coatings for the auto and transportation industry, announced terms for its IPO on Thursday. Private equity owner Carlyle plans to raise $878 million by offering 45 million shares (100% insider) at a price range of $18 to $21. At the midpoint of the proposed range, Axalta Coating Systems would command a fully diluted market value of $4.7 billion and enterprise value of $8.3 billion.
Carlyle bought Axalta from DuPont in February 2013 for $4.9 billion. Earlier filings suggested both the company and Carlyle would sell ...more
Boot Barn Holdings, a western apparel and footwear retailer with 158 stores in the US, raised $80 million by offering 5 million shares at $16, the high end of its $14-$16 price range. At its offer price, Boot Barn commands a fully-diluted market cap of $428 million and an enterprise value of $527 million. Boot Barn Holdings will list on the NYSE under the symbol [BOOT]. J.P. Morgan, Piper Jaffray, Jefferies & Co., Wells Fargo Securities and Baird acted as lead managers on the deal....more
Fifth Street Asset Management, a credit-focused alternative asset manager with $5.6 billion in AUM, raised $102 million by offering 6 million shares at $17, as expected. The company had originally planned to raise $200 million by offering 8 million shares at $24 to $26 before pulling the deal last week and significantly cutting the valuation earlier this week. Fifth Street Asset Management plans to list on the NASDAQ under the symbol [FSAM]. Fifth Street Asset Management initially filed confidentially on 7/23/2014. Morgan Stanley, J.P. Morgan, Goldman Sachs, RBC Capital Markets, Credit Suisse,...more