PSTL News

After a busy week in the IPO market, just one biotech is scheduled to go public in the week ahead. NASH biotech 89bio (ETNB) plans to raise $85 million at a $225 million market cap. The company’s target indication represents a multi-billion-dollar market with no FDA-approved therapy; consequently, there are ...read more

After the busiest week of the year in the prior week, May 2019 continued to be active this past week with five IPOs and one SPAC offering. Three came to market with valuations of more than $1 billion, including fast-growing unicorns Luckin Coffee and Fastly, and Avantor, the largest IPO of an LBO'd company since 2011. Avantor (AVTR), an LBO'd...read more

Postal Realty Trust, a recently-formed REIT that manages and leases properties to the USPS, raised $77 million by offering 4.5 million shares at $17, below the $19 to $21 range. The REIT had originally filed to raise $100 million by offering 5.0 million shares at the $20 midpoint. At pricing, Postal Realty Trust commands a market value of $114 million. Postal Realty Trust plans...read more

Seven IPOs are set to raise $4.85 billion in the week ahead, along with one blank check company. In addition to two REITs, a biotech, a small software maker, and a chemicals distributor, the line-up includes two high-growth unicorns: China-based coffee retailer Luckin Coffee (LK) and San Francisco-based website speed platform Fastly (FSLY). ...read more