10/24/14 Analyst IPO Blog
Three IPOs raised $164 million, bringing the year's total up to 231 offerings and $74 billion in proceeds. Six deals were expected to raise $550 million to make it the first week in over a month to raise under $1 billion. However, three of those postponed, including the two largest, Fifth Street Asset Management and Electronic Cigarettes International, so that the IPO market brought in about one third of the expected proceeds. The week saw three small offerings with modest gains from a Wisconsin bank and two biotechs, one of which was already listed in Paris.
More importantly, ...more
City Ventures, a California homebuilder focused on coastal urban areas and high demand suburban locations, withdrew its plans for an initial public offering on Friday.
The company targets communities in Southern and Northern California with favorable demographics and limited land available for new housing.
The Newport Beach, CA-based company was founded in 2013 and booked $120 million in sales for the 12 months ended June 30, 2013. It had planned to list on the NYSE under the symbol [CTYV]. Deutsche Bank and Goldman Sachs were set to be the joint bookrunners on the deal....more
Angion Biomedica, which is developing therapies for injured organs that trigger the body's natural regeneration, withdrew its plans for an initial public offering on Friday citing poor market conditions.
The company had planned to raise $30 million by offering 2.7 million shares at a price range of $10 to $12. At the midpoint of the proposed range, Angion Biomedica would have commanded a fully diluted market value of $76 million.
Its lead candidate is designed to speed the recovery time for patients after a kidney transplant, but Angion believes it can be used to prevent and repair ...more
First Guaranty Bancshares, a Louisiana bank with 21 branches and $1.5 billion in assets, filed on Friday with the SEC to raise up to $75 million in a public offering on the NASDAQ. The company currently trades on the OTCQB under the symbol FGBI.
2014 Louisiana bank IPO and peer Investar Holding ([ISTR]) has fallen 7% since its June offering.
The Hammond, LA-based company, which was founded in 1934 and booked $23 million in net interest and noninterest income for the 12 months ended , plans to list on the NASDAQ under the symbol [FGBI]. Raymond James is the sole bookrunner on the deal...more