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2 US IPOs planned for the week of Apr 1

By: Renaissance Capital
Posted: 4/1/2013 8:00:00 AM
Referenced Stocks: HART;IBTX;PF

The following IPOs are expected to price this week :

Harvard Apparatus Regenerative Technology ( HART ), a Harvard Bioscience carve-out focusing on regenerative medicine, plans to raise $19 million by offering 1.7 million shares at a price range of $10.00 to $12.00. At the midpoint of the proposed range, Harvard Apparatus Regenerative Technology would command a market value of $107 million. Harvard Apparatus Regenerative Technology, which was founded in 2009, booked $0 million in sales over the last 12 months. The Holliston, MA-based company plans to list on the NASDAQ under the symbol HART. Summer Street Research Partners and Maxim Group LLC are the joint bookrunners on the deal.

Independent Bank Group ( IBTX ), a Texas-based bank with 30 offices primarily in the Dallas/Fort Worth MSA, plans to raise $80 million by offering 3.2 million shares at a price range of $24.00 to $26.00. At the midpoint of the proposed range, Independent Bank Group would command a market value of $292 million. Independent Bank Group, which was founded in 1988, booked $68 million in sales over the last 12 months. The McKinney, TX-based company plans to list on the NASDAQ under the symbol IBTX. Sandler O'Neill, Evercore Partners and Keefe Bruyette Woods 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 was one IPO pricing . Pinnacle Foods ( PF ), a leading packaged and frozen foods company backed by Blackstone, ended up 11% from its IPO price after pricing at $20, the high end of its proposed $18 to $20 range.