Confidential US filings becoming frequent stop on IPO road

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Since ( LGZ ) became the first company to publicly file (on May 11) after working through a confidential submission with the SEC, twelve more companies have done so, representing 34% of the 35 US filings since May 11 . As we have noted previously, we believe confidential filings have far outpaced the official number of new US IPO filings since the JOBS Act went into effect in early April.

This week's two new US filings, Fleetmatics Group (FM) and Summit Midstream Partners (SMLP), both previously submitted confidential filings. Fleetmatics is a software-as-a-service (SaaS) provider of commercial fleet management solutions, and Summit Midstream Partners is an midstream energy MLP.

The last four US filings, which include online real estate company Trulia (TRLA) and biotech Regulus Therapeutics (RGLS), have all used the confidential submission process.

Here is the full list of confidential filers that have gone on to submit public filings with the SEC. Of the 13 confidential (and now public) filers, four have priced, one postponed and eight are waiting to launch.

Confidential-to-Public US IPO Filings Logged Since May 11

Company Name (Ticker) Confidential Filing Date IPO filing date Deal Size* Status ( LGZ ) April 5 May 11 $88 Postponed
KYTHERA ( KYTH ) April 6 May 17 $86 Filed
iWatt ( IWAT ) n/a June 4 $75 Filed
Natural Grocers ( NGVC ) Prior to May 31 June 18 $107 Priced
GlobeImmune ( GBIM ) May 23 July 2 $69 Filed
Manchester United (MANU) May 3 July 3 $233 Priced
Performant Financial (PFMT) n/a July 3 $81 Priced
Hi-Crush Partners (HCLP) May 11 July 9 $191 Priced
ViSalus (VI) June 21 August 16 $175 Filed
Regulus Therapeutics (RGLS) June 22 August 17 $58 Filed
Trulia (TRLA) May 31 August 17 $75 Filed
Fleetmatics Group (FM) May 18 August 20 $75 Filed
Summit Midstream Partners (SMLP) May 11 August 21 $302 Filed
*In millions

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

This article appears in: News Headlines , IPOs
Referenced Symbols: GBIM , IWAT , KYTH , LGZ , NGVC

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