12 US IPOs planned for the week of May 7

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The following IPOs are expected to price this week :

Audience ( ADNC ), a fabless designer of audio chips for the iPhone and other mobile devices, plans to raise $79 million by offering 5.3 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Audience would command a market value of $338 million. Audience, which was founded in 2000, booked $100 million in sales over the last 12 months. The Mountain View, CA-based company plans to list on the NASDAQ under the symbol ADNC. J.P. Morgan, Credit Suisse and Deutsche Bank Securities are the joint bookrunners on the deal.

Community Choice Financial ( CCFI ), which provides pay day loans and check cashing to under-banked consumers, plans to raise $117 million by offering 10.7 million shares at a price range of $10 to $12. At the midpoint of the proposed range, Community Choice Financial would command a market value of $205 million. Community Choice Financial, which was founded in 1987, booked $307 million in sales over the last 12 months. The Dublin, OH-based company plans to list on the NASDAQ under the symbol CCFI. Credit Suisse, Jefferies & Co. and Stephens Inc. are the joint bookrunners on the deal.

Customers Bancorp (CUBI), a bank holding company with 14 branches in the eastern Pennsylvania area, plans to raise $100 million by offering 7.1 million shares at a price range of $13 to $15. At the midpoint of the proposed range, Customers Bancorp would command a market value of $226 million. Customers Bancorp, which was founded in 1994, booked $68 million in sales over the last 12 months. The Wyomissing, PA-based company plans to list on the NASDAQ under the symbol CUBI. Macquarie Capital and Keefe Bruyette Woods are the joint bookrunners on the deal.

Edwards Group ( EVAC ), which makes vacuum and abatement systems for semiconductor and other industries, plans to raise $150 million by offering 12.5 million shares at a price range of $11 to $13. At the midpoint of the proposed range, Edwards Group would command a market value of $1.2 billion. Edwards Group, which was founded in 1919, booked $1.1 billion in sales over the last 12 months. The West Sussex, United Kingdom-based company plans to list on the NASDAQ under the symbol EVAC. Barclays, Goldman Sachs and Deutsche Bank Securities are the joint bookrunners on the deal.

Ignite Restaurant Group ( IRG ), which operates the Joe's Crab Shack and Brick House Tavern + Tap restaurant brands, plans to raise $75 million by offering 5.8 million shares at a price range of $12 to $14. At the midpoint of the proposed range, Ignite Restaurant Group would command a market value of $322 million. Ignite Restaurant Group, which was founded in 1991, booked $421 million in sales over the last 12 months. The Houston, TX-based company plans to list on the NASDAQ under the symbol IRG. Credit Suisse, Baird and Piper Jaffray are the joint bookrunners on the deal.

LINC Logistics ( LLGX ), which offers supply chain logistics services primarily to the US auto industry, plans to raise $170 million by offering 11.3 million shares at a price range of $14 to $16. At the midpoint of the proposed range, LINC Logistics would command a market value of $462 million. LINC Logistics, which was founded in 1992, booked $291 million in sales over the last 12 months. The Warren, MI-based company plans to list on the NASDAQ under the symbol LLGX. Citi and Stifel Nicolaus Weisel are the joint bookrunners on the deal.

Loyalty Alliance Enterprise (LAEC), a provider of mobile direct marketing and customer loyalty solutions in China, plans to raise $66 million by offering 5.1 million shares at a price range of $12 to $14. At the midpoint of the proposed range, Loyalty Alliance Enterprise would command a market value of $195 million. Loyalty Alliance Enterprise, which was founded in 2009, booked $31 million in sales over the last 12 months. The Hong Kong-based company plans to list on the NASDAQ under the symbol LAEC. Macquarie Capital and Needham & Co. are the joint bookrunners on the deal.

New Source Energy (NSE), which owns interests in oil and natural gas properties in Eastern Oklahoma, plans to raise $100 million by offering 9.1 million shares at a price range of $10 to $12. At the midpoint of the proposed range, New Source Energy would command a market value of $363 million. New Source Energy, which was founded in 2011, booked $50 million in sales over the last 12 months. The Oklahoma City, OK-based company plans to list on the NYSE under the symbol NSE. BMO Capital Markets and KeyBanc Capital Markets are the joint bookrunners on the deal.

Rib-X Pharmaceuticals (RIBX), a biotech developing new antibiotics for serious hospital and community infections, plans to raise $75 million by offering 5.8 million shares at a price range of $12 to $14. At the midpoint of the proposed range, Rib-X Pharmaceuticals would command a market value of $204 million. Rib-X Pharmaceuticals, which was founded in 2000, booked $3 million in sales over the last 12 months. The New Haven, CT-based company plans to list on the NASDAQ under the symbol RIBX. Deutsche Bank Securities is the lead manager on the deal.

TIM w.e. (TMWE), which provides mobile marketing, entertainment and payment services in Latin America, plans to raise $75 million by offering 13.7 million shares at a price range of $5 to $6. At the midpoint of the proposed range, TIM w.e. would command a market value of $340 million. TIM w.e., which was founded in 2002, booked $365 million in sales over the last 12 months. The Lisbon, Portugal-based company plans to list on the NASDAQ under the symbol TMWE. Credit Suisse and Citi are the joint bookrunners on the deal.

WageWorks (WAGE), an on-demand provider of employee spending account benefits programs, plans to raise $72 million by offering 6.5 million shares at a price range of $10 to $12. At the midpoint of the proposed range, WageWorks would command a market value of $330 million. WageWorks, which was founded in 2000, booked $145 million in sales over the last 12 months. The San Mateo, CA-based company plans to list on the NYSE under the symbol WAGE. William Blair and Stifel Nicolaus Weisel are the joint bookrunners on the deal.

Western Asset Mortgage Capital Corporation (WMC), a Legg Mason-owned REIT focused on investing in Agency RMBS, plans to raise $160 million by offering 8.0 million shares at a price of $20. At the midpoint of the proposed range, Western Asset Mortgage Capital Corporation would command a market value of $207 million. Western Asset Mortgage Capital Corporation, which was founded in 2009, plans to list on the NYSE under the symbol WMC. Deutsche Bank Securities, J.P. Morgan, Citi and Jefferies are the joint bookrunners on the deal.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , IPOs

Referenced Stocks: ADNC , CCFI , EVAC , IRG , LLGX

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