IPO News and Updates

8/29/14


Enovation Controls, which provides natural gas engine control and fuel systems for commercial vehicles, filed on Friday with the SEC to raise up to $100 million in an initial public offering.

The Tulsa, OK-based company, which was founded in 1939 and booked $270 million in sales for the 12 months ended June 30, 2014, plans to list on the NYSE under the symbol ENOV. Enovation Controls initially filed confidentially on July 11, 2014. Morgan Stanley and UBS Investment Bank are the joint bookrunners on the deal. No pricing terms were disclosed.


Keywords: ENOV

8/29/14


STORE Capital, a retail REIT backed by Oaktree Capital with 767 single-tenant properties, filed on Friday with the SEC to raise up to $500 million in an initial public offering. As of June 30, 2014, it had about $2.3 billion worth of investments in real estate and loans.

STORE's 190 customers lease 767 properties across 43 states, and its top three concepts include Applebee's, Ashley Furniture Homestore and Popeyes Louisiana Kitchen. Owning a 99% pre-IPO stake, its primary shareholder is Oaktree Capital (NYSE: OAK), which has invested over $500 million since its 2011 blind pool formation.

The Scottsdale, AZ-based company booked $147 million in sales for the 12 months ended June 30, 2014 and plans to list on the NYSE under the symbol STRE. STORE Capital initially filed confidentially on February 13, 2014. Goldman Sachs, Credit Suisse and Morgan Stanley are the joint bookrunners on the deal. No pricing terms were disclosed.


Keywords: STRE, OAK

8/29/14


Great Western Bancorp, a regional bank owned by National Australia Bank with 162 branches across the Midwest, filed on Thursday with the SEC to raise up to $100 million in an initial public offering.

The Sioux Falls, SD-based company, which was founded in 1935 and booked $103 million in net income for the 12 months ended June 30, 2014, plans to list on the NYSE under the symbol GWB. Great Western Bancorp initially filed confidentially on July 18, 2014. Deutsche Bank and BofA Merrill Lynch are the joint bookrunners on the deal. No pricing terms were disclosed.


Keywords: GWB

8/28/14


Syndax Pharmaceuticals, a late-stage biotech developing a novel therapy for treatment-resistant breast cancer, refiled terms for its IPO on Thursday after postponing the deal in June. The Waltham, MA-based company still plans to raise $60 million by offering 4.3 million shares at a price range of $13 to $15. At the midpoint of the proposed range, Syndax Pharmaceuticals would command a fully diluted market value of $179 million.

Syndax Pharmaceuticals, which was founded in 2005, plans to list on the NASDAQ under the symbol SNDX. Deutsche Bank and Jefferies & Co. are the joint bookrunners on the deal.


Keywords: SNDX, Biotech

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