PRAH News

Four companies are set to raise a combined $270 million in the week ahead. Most notable deal Medpace, a contract research organization focused on biotechs, is joined by two potential customers: Protagonist Therapeutics and Motif Bio. Thanks to insider support, biotechs are the most active segment of the 2016 IPO market, with 20 offerings year-to-date (36% of total), but their...read more

The Renaissance IPO Index (Ticker: IPOUSA), the underlying index for the Renaissance IPO ETF (Ticker: IPO), will implement the following constituent changes at the market’s close on Friday, September 18, 2015: Additions: Blue Buffalo Pet Products TransUnion Ultragenyx...read more

9 companies went public this week, raising $2 billion in the IPO market as year-to-date issuance surpassed 250 IPOs, almost 25% more than at this point last year. 3 large PE-backed deals, including two LBOs, each traded up over 10% and represented 79% of proceeds, while the 4 smallest companies by market cap had the lowest returns. Even with the S&P 500 near all-time highs,...read more

PRA Health Sciences, one of the largest global contract research organizations (CROs), raised $306 million by offering 17 million shares (100% primary) at $18, below the $20-$23 range. PRA had initially planned to offer 18.6 million shares, however, private equity backer KKR, which was going to offer 1.6 million shares, did not sell. At the $18 offer price and adjusting for...read more