3/1/15 Analyst IPO Blog

After a week without any IPOs, two upcoming deals - a biotech and an adtech - are set to kick off what could be a busy March in the IPO market. • 2 US IPOs on the IPO calendar • 2015 IPO activity remains below 2014 but above 2013 • The IPO pipeline contains several notable names to watch out for Voters in our


Cerberus Mortgage Capital, a mortgage REIT investing in Agency and non-Agency RMBS, withdrew its plans for an initial public offering on Friday. Mortgage REITs have faced some resistance this year. Sutherland Asset Management ([SLD]) postponed its IPO in January and Great Ajax ([AJX]) trades below its offer price. Equity REIT's InfraREIT ([HIFR]; +17%) and Easterly Government Properties ([DEA]; +10%) have fared better. The New York, NY-based company was formed in 2013 and planned to list on the NYSE. Cerberus Mortgage Capital initially filed confidentially on November 23, 2012. Citi,...more

Keywords: CERB.RC, AJX, REIT


Kornit Digital, which sells digital printing equipment and inks for the printed textile industry, filed on Wednesday with the SEC to raise up to $115 million in an initial public offering. The Rosh Ha’Ayin, Israel-based company, which was founded in 2002 and booked $66 million in sales for the 12 months ended December 31, 2014, plans to list on the NASDAQ under the symbol [KRNT]. Kornit Digital initially filed confidentially on December 10, 2014. Barclays and Citi are the joint bookrunners on the deal. No pricing terms were disclosed....more

Keywords: KRNT


Tallgrass Energy GP LP, which holds GP and LP interests in midstream natural gas LP Tallgrass Energy, filed on Tuesday with the SEC to raise up to $863 million in an initial public offering. Tallgrass Energy's filing arrives less than two weeks after EQT GP Holdings LP ([EQGP]), another IPO candidate with a gas pipeline MLP's incentive distribution rights, filed to raise $300 million. The Leawood, KS-based company, which was formed in 2015 and booked $372 million in historical sales for the 12 months ended December 31, 2014, plans to list on the NYSE under the symbol [TEGP]. Citi ...more

Keywords: TEGP, TEP, WGP

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