IPO News and Updates

4/23/14


Lombard Medical, which offers innovative stent-grafts for highly angled endovascular aortic repair, revived plans for its upcoming IPO and lowered the proposed deal size on Wednesday. The Oxfordshire, United Kingdom-based company postponed its IPO in early April but now plans to raise $55 million by offering 5.0 million shares at $11. The company had previously filed to offer 3.6 million shares at a range of $15 to $18. At the midpoint of the revised range, Lombard will raise 8% less in proceeds than previously anticipated.

Lombard Medical, which was founded in 2003 and booked $7 million in sales for the fiscal year ended December 31, 2013, plans to list on the NASDAQ under the symbol EVAR. It initially filed confidentially on January 22, 2014. Jefferies and Barclays are the joint bookrunners on the deal. It is expected to price on April 24, 2014.


Keywords: EVAR

4/23/14


Quotient, which is developing a diagnostics test for grouping and disease screening blood samples, lowered the proposed deal size for its upcoming IPO on Wednesday. The Midlothian, United Kingdom-based company now plans to raise $40 million by offering 5.0 million shares at a price of $8, along with attached warrants to purchase 4 million shares at $8.80 per share. The company originally filed to offer 5.0 million shares at a price range of $14 to $16 and previously cut the range to $9 to $11 on April 14. The expected proceeds are 47% less than the $75 million initially sought. Quotient, which was founded in 2007 and booked $19 million in sales for the 12 months ended 12/31/2013, plans to list on the NASDAQ under the symbol QTNT. Quotient initially filed confidentially on 1/22/2014. UBS Investment Bank, Baird and Cowen & Company are the joint bookrunners on the deal.


Keywords: QTNT

4/22/14


K2M Group Holdings, which develops and sells medical devices for use in spinal surgeries, announced terms for its IPO on Tuesday. The Leesburg, VA-based company plans to raise $150 million by offering about 8.8 million shares at a price range of $16 to $18. At the midpoint of the proposed range, it would command a fully diluted market value of $677 million.

K2M Group Holdings, which was founded in 2004 and booked $158 million in sales for the fiscal year ended December 31, 2013, plans to list on the NASDAQ under the symbol KTWO. It initially filed confidentially on January 24, 2014. Piper Jaffray, Barclays and Wells Fargo Securities are the joint bookrunners on the deal.


Keywords: KTWO, AMDA

4/22/14


Orion Engineered Carbons Holdings, a global producer of the chemical additive carbon black, filed on Tuesday with the SEC to raise up to $300 million in an initial public offering. Carbon black is used to manufacture printing inks, polymers, tires and other mechanical rubber goods. The company was sold to private equity firms Rhone Capital and Triton Advisers in 2011 for over $1.2 billion.

The Frankfurt am Main, Germany-based company, which was founded in 2011 and booked $1.8 billion in sales for the fiscal year ended December 31, 2013, plans to list on the NYSE. Morgan Stanley, Goldman Sachs and UBS Investment Bank are the joint bookrunners on the deal. No pricing terms were disclosed and no ticker was announced.


Keywords: Orion

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