1/23/15 Analyst IPO Blog
Data management platform Box became the first technology IPO of 2015 and popped 66% on its first day. The company's successful debut could encourage other technology IPOs to launch, but right now health care companies dominate the IPO calendar: 13 of the 15 upcoming IPOs are biotechs, diagnostics and medical products. 12 IPOs were added to the calendar during the past week, 10 of which are health care companies planning to raise less than $100 million. The other two included Shake Shack ([SHAK]) and a large REIT ([HIFR]).
A bigger Box: Data SaaS platform up 66%
Euronav, a Belgian shipping company with 53 oil tankers, raised $199 million by offering 16.3 million shares at $12.25. The company's stock currently trades on the Euronext Brussels under the symbol EURN. It originally filed to raise $175 million by offering 13.6 million shares at $12.94 per share. At the new offer price, it commands a fully diluted market value of $2.0 billion, or 4% less than its prior filing.
Euronav plans to list on the NYSE under the symbol [EURN]. Deutsche Bank, Citi, J.P. Morgan and Morgan Stanley acted as lead managers on the deal. ...more
Carbylan Therapeutics, which is developing a novel, injectable treatment for osteoarthritis pain, announced terms for its IPO on Friday. The Palo Alto, CA-based company plans to raise $75 million by offering 5.8 million shares at a price range of $12 to $14. At the midpoint of the proposed range, Carbylan Therapeutics would command a fully diluted market value of $211 million.
Carbylan Therapeutics, which was founded in 2004 and booked $0 million in sales for the 12 months ended September 30, 2014, plans to list on the NASDAQ under the symbol [CBYL]. Leerink Partners is the sole ...more
Asante Solutions, which markets a recently-approved insulin pump system with pre-filled cartridges, announced terms for its IPO on Friday. The Sunnyvale, CA-based company plans to raise $49 million by offering 3.5 million shares at a price range of $13 to $15. At the midpoint of the proposed range, Asante Solutions would command a fully diluted market value of $182 million.
Asante Solutions, which was founded in 2006 and booked $1 million in sales for the 12 months ended September 30, 2014, plans to list on the NASDAQ under the symbol [PUMP]. Leerink Partners and Cowen & Company ...more