3/27/15


Principal Solar, which operates acquired solar energy assets, filed on Friday with the SEC to raise up to $29 million in an initial public offering of its shares on the NASDAQ. The company's stock is currently traded on the OTC Pink market under the symbol PSWW, and it commands a market cap of about $140 million. The Dallas, TX-based company, which was founded in 2011 and booked $1 million in sales for the 12 months ended December 31, 2014, plans to list on the NASDAQ under the symbol [PSWW]. Northland Securities is the sole ...more


Keywords: PSWW

3/27/15 Analyst IPO Blog


Four companies publicly listed on US markets during the last full week of the first quarter, raising $510 million. Solar tech provider SolarEdge outshined its peers while mega biotech Cellectis saw speculators jump in before the IPO and then quickly jump out. In the week ahead, GoDaddy ([GDDY]) is expected to raise $400 million. SolarEdge: A bright spot in the IPO market SolarEdge Technologies ([SEDG]) priced at the high end of its range and ...more


Keywords: SEDG, CLLS, JCAP, FSB

3/27/15 Analyst IPO Blog


Following a very active 2014, global IPO issuance slowed in the first quarter of 2015. Quarterly proceeds were $31.3 billion, down 11.4% year-over-year. Excluding Europe, IPO issuance in all regions dropped significantly year-over-year. IPO proceeds in the 1Q15 were led by the European and Asia Pacific regions, which accounted for 54.4% and 30.9% of quarterly proceeds, respectively. European proceeds were boosted by the listings of large, multi-billion dollar IPOs, including Europe’s eighth largest IPO ever from Spanish airport operator ...more


Keywords: AENA.SM, SCRG.SS, AUTO.LN, CPPL, 3606.HK, ELIS.FP, BABA, TWTR, FB

3/27/15


Jernigan Capital, a recently formed REIT focused on lending to self-storage facilities, raised $100 million by offering 5 million shares at $20, the midpoint of the $19-$21 range. Jernigan Capital plans to list on the NYSE under the symbol [JCAP]. Raymond James acted as a lead manager on the deal....more


Keywords: JCAP

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Performance Disclosure: Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Investors should consider the investment objectives, risks, charges and expenses carefully before investing.

As stated in the Prospectus, the total annual operating expenses for the Fund was 3.48%. The Adviser has contractually agreed to keep net expenses from exceeding 2.50% of the Fund's average daily net assets for at least a year from the date of the Prospectus and for an indefinite period thereafter subject to annual re-approval of the agreement by the Board of Trustees.

An investor cannot invest directly in an index. Index returns do not represent Fund returns. The Index does not charge management fees or brokerage expenses, nor does the Index lend securities, and no revenues from securities lending were added to the performance shown.

Definitions: Net Asset Value (NAV) of the fund is calculated by dividing the total value of all the securities in its portfolio, less any liabilities, by the number of fund shares outstanding. Market Price is current value at which an asset or service can be bought or sold. Premium/Discount is provided to show the comparison of the daily net asset value (NAV) and the midpoint of the closing bid/ask for each of the funds. The Renaissance IPO Index® (IPOUSA) is a stock market index based upon a portfolio of U.S.-listed newly public companies that includes securities prior to their inclusion in core U.S. equity portfolios. The Renaissance International IPO Index® (IPOXUS) is a stock market index based upon a portfolio of newly public companies listed on non-U.S. exchanges. The S&P 500® Index (SPX) is a stock market index based on the market capitalizations of 500 large companies whose common stock is publicly traded on the NYSE.

Risk Disclosure: Investments in the Renaissance IPO ETF, symbol "IPO", the Renaissance International IPO ETF, symbol "IPOS" (the "ETFs"), and the Global IPO Fund, symbol "IPOSX" (the "Mutual Fund") are subject to investment risk, including possible loss of the principal amounts invested. The ETFs and the Mutual Fund (the "Funds") invest in companies that have recently completed initial public offerings. These stocks are unseasoned equities lacking trading history, a track record of reporting to investors and widely available research coverage which many result in extreme price volatility. Due to a greater number of IPOs in certain segments, the Funds may also be subject to information technology and financial sector risk, small and mid-capitalization company risk, and, for the Renaissance International IPO ETF, emerging markets risk. The Funds may hold securities in the form of Depository Receipts, REITs, and Partnership Units which have greater risks than common shares. The strategies have high portfolio turnover and securities lending risks. The returns of the ETFs may not match the return of the respective indices. The ETFs are classified as non-diversified investment companies subject to concentration risk.

Prospectus: Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus and/or summary prospectus with this and other information, please visit www.renaissancecapital.com. Read the prospectus carefully before investing. Renaissance Capital Investments, Inc., distributor for the Mutual Fund. Foreside Fund Services, LLC, distributor for the ETFs, 1-866-486-6645.

Definitions: The Renaissance IPO Index® is a stock market index based upon a portfolio of U.S.-listed newly public companies that includes securities prior to their inclusion in core U.S. equity portfolios. The S&P 500® Index is a stock market index based on the market capitalizations of 500 large companies whose common stock is publicly traded on the NYSE.

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