9 US IPOs planned for the week of Sep 30

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The following IPOs are expected to price this week :

Burlington Stores ( BURL ), a national off-price retailer operating the Burlington Coat Factory Chain, plans to raise $200 million by offering 13.3 million shares at a price range of $14.00 to $16.00. At the midpoint of the proposed range, Burlington Stores would command a market value of $1.1 billion. Burlington Stores, which was founded in 1972, booked $4.3 billion in sales over the last 12 months. The Burlington, NJ-based company plans to list on the NYSE under the symbol BURL. J.P. Morgan, Morgan Stanley, BofA Merrill Lynch and Wells Fargo Securities are the joint bookrunners on the deal.

Cherry Hill Mortgage Investment ( CHMI ), a mortgage REIT investing in Excess MSRs, Agency RMBS, and prime jumbo mortgage loans, plans to raise $130 million by offering 6.5 million shares at a price of $20.00. At the midpoint of the proposed range, Cherry Hill Mortgage Investment would command a market value of $151 million. Cherry Hill Mortgage Investment, which was founded in 2012, booked $0 million in sales over the last 12 months. The Moorestown, NJ-based company plans to list on the NYSE under the symbol CHMI. Barclays, Morgan Stanley, Citi and UBS Investment Bank are the joint bookrunners on the deal.

Empire State Realty Trust ( ESRT ), which operates 18 commercial properties in midtown Manhattan and greater New York, plans to raise $1.0 billion by offering 71.5 million shares at a price range of $13.00 to $15.00. At the midpoint of the proposed range, Empire State Realty Trust would command a market value of $3.4 billion. Empire State Realty Trust, which was founded in 2011, booked $501 million in sales over the last 12 months. The New York, NY-based company plans to list on the NYSE under the symbol ESRT. Goldman Sachs and BofA Merrill Lynch are the joint bookrunners on the deal.

Fate Therapeutics ( FATE ), an early clinical-stage biotech developing stem cell treatments for orphan diseases, plans to raise $60 million by offering 4.0 million shares at a price range of $14.00 to $16.00. At the midpoint of the proposed range, Fate Therapeutics would command a market value of $219 million. Fate Therapeutics, which was founded in 2007, booked $2 million in sales over the last 12 months. The San Diego, CA-based company plans to list on the NASDAQ under the symbol FATE. Cowen & Company and BMO Capital Markets are the joint bookrunners on the deal.

Intercloud Systems ( ICLD ), which provides telecom infrastructure staffing and management services, plans to raise $20 million by offering 2.0 million shares at a price range of $9.00 to $11.00. At the midpoint of the proposed range, Intercloud Systems would command a market value of $73 million. Intercloud Systems, which was founded in 1999, booked $41 million in sales over the last 12 months. The Red Bank, NJ-based company plans to list on the NASDAQ under the symbol ICLD. Aegis Capital is the lead bookrunner on the deal. (Please note: Shares currently traded on the OTC markets.)

OCI Partners LP (OCIP), the largest merchant methanol producer in the US, plans to raise $350 million by offering 17.5 million shares at a price range of $19.00 to $21.00. At the midpoint of the proposed range, OCI Partners LP would command a market value of $1.6 billion. OCI Partners LP, which was founded in 2013, booked $378 million in sales over the last 12 months. The Nederland, TX-based company plans to list on the NYSE under the symbol OCIP. BofA Merrill Lynch, Barclays and Citi are the joint bookrunners on the deal.

Potbelly (PBPB), which operates "antique" sandwich shops in the US, plans to raise $75 million by offering 7.5 million shares at a price range of $9.00 to $11.00. At the midpoint of the proposed range, Potbelly would command a market value of $285 million. Potbelly, which was founded in 1977, booked $290 million in sales over the last 12 months. The Chicago, Il-based company plans to list on the NASDAQ under the symbol PBPB. BofA Merrill Lynch and Goldman Sachs are the joint bookrunners on the deal.

RE/MAX Holdings (RMAX), a leading franchisor of residential real estate brokerages in the US and Canada, plans to raise $200 million by offering 10.0 million shares at a price range of $19.00 to $21.00. At the midpoint of the proposed range, RE/MAX Holdings would command a market value of $611 million. RE/MAX Holdings, which was founded in 1973, booked $152 million in sales over the last 12 months. The Denver, CO-based company plans to list on the NYSE under the symbol RMAX. Morgan Stanley, BofA Merrill Lynch and J.P. Morgan are the joint bookrunners on the deal.

Tecogen (TGEN), which sells and services commercial natural gas-powered cogeneration systems, plans to raise $20 million by offering 3.0 million shares at a price range of $5.50 to $7.50. At the midpoint of the proposed range, Tecogen would command a market value of $113 million. Tecogen, which was founded in 2000, booked $15 million in sales over the last 12 months. The Waltham, MA-based company plans to list on the NASDAQ under the symbol TGEN. Northland Securities and Scarsdale Equities 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.

Last week, there were 11 IPO pricings . Foundation Medicine (FMI), which offers diagnostic cancer analyses that provide patient specific data for physicians, was the week's winner, ending up 98% from its IPO price.




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: News Headlines , IPOs

Referenced Stocks: BURL , CHMI , ESRT , FATE , ICLD

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