3/2/15 Analyst IPO Blog
The NASDAQ Composite is approaching its March 2000 high during the peak of the tech bubble. It even reached 5,000 for the first time since 2000.
Today's technology IPOs look much tamer in number than they did 15 years ago, but a boom in biotech IPOs raises concerns over a bubble in the biotech sector.
Beware the biotech bubble
• The NASDAQ Biotech Index is more than double its March 2000 peak
• The average biotech ...more
RainDance Technologies, which sells systems that perform non-invasive genetic analysis, filed on Friday with the SEC to raise up to $60 million in an initial public offering.
Genetic testing companies have been active in the IPO market this year. Invitae ([NVTA]) has gained 19% after it priced above the range in February. Autogenomics ([AGMX]) and AltheaDx ([IDGX]) planned to go public in February but postponed their deals. HTG Molecular ([HTGM]) recently updated its financials and could launch an IPO soon.
RainDance lists Agilent Technologies (NYSE: A), Illumina (NASDAQ: ILMN) and Q...more
Summit Materials, a Blackstone-backed provider of aggregates, concrete and asphalt paving services, announced terms for its IPO on Monday. The Denver, CO-based company plans to raise $400 million by offering 22.2 million shares at a price range of $17 to $19. At the midpoint of the proposed range, it would command a fully diluted market value of $1.7 billion.
Summit Materials, which was founded in 2009 and booked $1.2 billion in sales for the 12 months ended December 31, 2014, plans to list on the NYSE under the symbol [SUM]. Citi, Goldman Sachs, BofA Merrill Lynch, Barclays, Deutsche ...more