BNL News

While capital markets are typically quiet in August, secondary activity picked up significantly during the month, hinting at a possible reopening of the IPO window heading into the fall. There were nearly 40 registered follow-on public offerings (FPOs) of $50+ million in August, compared to just nine in July. An uptick in FPOs is typically a leading indicator of greater IPO...read more

The US IPO market has already posted its busiest year since the internet bubble in 2000, and we expect issuance to stay active in the fall. With broader equity markets at all-time highs and a burgeoning IPO pipeline of private unicorns, many long-awaited names will finally take the leap to public markets, supported by the busiest month of August for new filings in over a decade....read more

In the busiest week yet for the 2020 IPO market, 15 IPOs raised $8.7 billion. Snowflake (SNOW) took the spotlight, completing the largest software IPO ever and bagging the biggest billion-dollar pop in two decades. Eight SPACs joined the week’s diverse group of IPOs. The year’s largest IPO to date, Snowflake (SNOW) priced above...read more

Broadstone Net Lease, a single-tenant commercial net lease REIT with 633 properties in the US and Canada, raised $570 million by offering 33.5 million shares at $17, the low end of the range of $17 to $19. The company plans to offer a 5.9% yield based on the offering price. Broadstone Net Lease plans to list on the NYSE under the symbol BNL. J.P. Morgan, Goldman Sachs, BMO...read more