The following
IPOs are expected to price this week
:
Durata Therapeutics
(
DRTX
), which is developing Phase 3 antibiotic candidate for acute
skin infections, plans to raise $75 million by offering 6.3
million shares at a price range of $11.00 to $13.00. At the
midpoint of the proposed range, Durata Therapeutics would command
a market value of $210 million. Durata Therapeutics was founded
in 2009. The Morristown, NJ-based company plans to list on the
NASDAQ under the symbol DRTX. BofA Merrill Lynch and Credit
Suisse are the joint bookrunners on the deal.
Fender Musical Instruments
(
FNDR
), an iconic guitar brand used by beginners, professionals and an
array of top artists, plans to raise $150 million by offering
10.7 million shares at a price range of $13.00 to $15.00. At the
midpoint of the proposed range, Fender Musical Instruments would
command a market value of $399 million. Fender Musical
Instruments, which was founded in 1946, booked $704 million in
sales over the last 12 months. The Scottsdale, AZ-based company
plans to list on the NASDAQ under the symbol FNDR. J.P. Morgan
and William Blair are the joint bookrunners on the deal.
Five Below
(
FIVE
), a pre-teen to teen-focused retailer that offers all of its
products at $5 or below, plans to raise $125 million by offering
9.6 million shares at a price range of $12.00 to $14.00. At the
midpoint of the proposed range, Five Below would command a market
value of $708 million. Five Below, which was founded in 2002,
booked $322 million in sales over the last 12 months. The
Philadelphia, PA-based company plans to list on the NASDAQ under
the symbol FIVE. Goldman Sachs, Barclays and Jefferies & Co.
are the joint bookrunners on the deal.
KAYAK Software
(
KYAK
), which operates a website that lets consumers compare flight,
hotel and travel info, plans to raise $82 million by offering 3.5
million shares at a price range of $22.00 to $25.00. At the
midpoint of the proposed range, KAYAK Software would command a
market value of $1.0 billion. KAYAK Software, which was founded
in 2004, booked $245 million in sales over the last 12 months.
The Norwalk, CT-based company plans to list on the NASDAQ under
the symbol KYAK. Morgan Stanley and Deutsche Bank Securities are
the joint bookrunners on the deal.
Palo Alto Networks
(
PANW
), which provides firewall products to 7,750 enterprise
customers, plans to raise $220 million by offering 6.2 million
shares at a price range of $34.00 to $37.00. At the midpoint of
the proposed range, Palo Alto Networks would command a market
value of $2.8 billion. Palo Alto Networks, which was founded in
2005, booked $220 million in sales over the last 12 months. The
Santa Clara, CA-based company plans to list on the NYSE under the
symbol PANW. Morgan Stanley, Goldman Sachs and Citi are the joint
bookrunners on the deal.
Renaissance Capital will have
Pre-IPO Research
available on each of these upcoming IPOs prior to its pricing.