The following
IPOs are expected to price this week
:
Andina Acquisition Corp.
(ANDAU), a blank check company focused on acquiring businesses in
Colombia, plans to raise $50 million by offering 5 million shares
$10.00. At the midpoint of the proposed range, Andina Acquisition
Corp. would command a market value of $63 million. The Bogota,
Colombia-based company plans to list on the NASDAQ under the
symbol ANDAU. EarlyBird Capital is the lead underwriter on the
deal.
Argos Therapeutics
(
ARGS
), which is developing personalized immunotherapies for
metastatic renal cancer and HIV, plans to raise $74 million by
offering 5.3 million shares at a price range of $13.00 to $15.00.
At the midpoint of the proposed range, Argos Therapeutics would
command a market value of $230 million. Argos Therapeutics, which
was founded in 1997, booked $8 million in sales over the last 12
months. The Durham, NC-based company plans to list on the NASDAQ
under the symbol ARGS. Lazard Capital Markets and Canaccord
Genuity are the lead underwriters on the deal.
GCT Semiconductor
(
GCTS
), a fabless supplier of 4G LTE and WiMAX wireless chips, plans
to raise $60 million by offering 7.5 million shares at a price
range of $7.00 to $9.00. At the midpoint of the proposed range,
GCT Semiconductor would command a market value of $324 million.
GCT Semiconductor, which was founded in 1998, booked $87 million
in sales over the last 12 months. The San Jose, CA-based company
plans to list on the NASDAQ under the symbol GCTS. BofA Merrill
Lynch is the lead underwriter on the deal.
Home Loan Servicing Solutions
(
HLSS
), recently formed to acquire Ocwen Financial's mortgage
servicing business, plans to raise $200 million by offering 13
million shares at a price range of $14.00 to $16.00. At the
midpoint of the proposed range, Home Loan Servicing Solutions
would command a market value of $210 million. Home Loan Servicing
Solutions, which was founded in 2010, plans to list on the NASDAQ
under the symbol HLSS. Wells Fargo, Barclays Capital and Citi are
the lead underwriters on the deal.
Provident Mortgage Capital Associates
(
PMCA
), a Provident-managed REIT formed to acquire mortgage-related
assets, plans to raise $125 million by offering 8.3 million
shares at $15.00. At the midpoint of the proposed range,
Provident Mortgage Capital Associates would command a market
value of $130 million. Provident Mortgage Capital Associates was
founded in 2011. The San Bruno, CA-based company plans to list on
the NYSE under the symbol PMCA. UBS Investment Bank, Credit
Suisse and Deutsche Bank Securities are the lead underwriters on
the deal.
Yelp
(
YELP
), a local business reviews website with 66 million monthly
users, plans to raise $93 million by offering 7.2 million shares
at a price range of $12.00 to $14.00. At the midpoint of the
proposed range, Yelp would command a market value of $848
million. Yelp, which was founded in 2004, booked $83 million in
sales over the last 12 months. The San Francisco, CA-based
company plans to list on the NYSE under the symbol YELP. Goldman
Sachs, Citi and Jefferies are the lead underwriters on the deal.
Renaissance Capital will have
Pre-IPO Research
available on each of these upcoming IPOs prior to its pricing.
Last week, there were 3
IPO pricings
. Proto Labs (PRLB), which manufactures quick-turn, low-volume
molded custom parts for prototyping, was the week's winner,
ending up 81% from its IPO price.