4/26/15 Analyst IPO Blog
Up to six companies could price their IPOs this week. All are either LPs or health care companies (including three biotechs).
Two LPs on deck, one offering power-generating wood pellets
Enviva Partners LP ([EVA]) is backed by Riverstone/Carlyle and is the world’s largest manufacturer of wood pellets, which are a cleaner burning alternative to coal for utilities. The company operates five plants, which account for 15% of global ...more
Azure Midstream Partners LP, which owns natural gas gathering pipelines near the border of Texas and Louisiana, withdrew its plans for an initial public offering on Friday.
The Dallas, TX-based company was founded in 2013 and booked $183 million in sales for the 12 months ended September 30, 2014. Azure Midstream Partners LP initially filed confidentially on October 3, 2014. Citi and BofA Merrill Lynch were set to be the joint bookrunners on the deal....more
4/24/15 Analyst IPO Blog
Only two companies came public this week, raising $347 million, with both ending the week roughly even with their IPO prices.
National Storage Affiliates REIT ([NSA]) priced 19% below the midpoint and traded up just 1% by Friday close. The self-storage roll-up likely turned off investors with its complex and unproven equity incentive structure. Based on historical distributions, the REIT could offer a nearly 6% yield, vs. 3% for its larger peers.
Apigee ([APIC]) priced at the midpoint but finished ...more
Ritter Pharmaceuticals, which is developing an oral therapy that reduces the symptoms of lactose intolerance, announced terms for its IPO on Friday. The Los Angeles, CA-based company plans to raise $20 million by offering 1.82 million shares at a price range of $10 to $12. At the midpoint of the proposed range, Ritter would command a fully diluted market value of $69 million.
Ritter Pharmaceuticals was founded in 2004 and plans to list on the NASDAQ under the symbol [RTTR]. Ritter Pharmaceuticals initially filed confidentially on ...more