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US IPO Week Ahead: Online training course unicorn Pluralsight leads 3 IPO week


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One unicorn and two SPACs are expected to raise a combined $728 million in the week ahead. Online training course provider  Pluralsight  leads the week and is joined by blank check companies  Trinity Merger and  VectoIQ Acquisition . 

U.S. IPO Calendar
Issuer
Business
Deal Size
Market Cap
Price Range
Shares Filed
Top
Bookrunners
Trinity Merger ( TMCXU )
Honolulu, HI
$300M
$375M
$10
30,000,000
B. Riley & Co.
Blank check company formed by Trinity Investments to acquire a real estate business.
VectoIQ Acquisition ( VTIQU )
Mamaroneck, NY
$200M
$256M
$10
20,000,000
Cowen
Chardan
Blank check company led by former GM execs and focused on smart transportation businesses.
Pluralsight ( PS )
Farmington, UT
$228M
$1,525M
$10 - $12
20,700,000
Morgan Stanley
JP Morgan
Provides online training courses in programming and software development.


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Pluralsight (PL), which offers over 6,700 online training courses to primarily enterprises (82% of 1Q18 billings), is expected to raise $228 million at a $1.5 billion market value. The company addresses a $24 billion market opportunity and has seen accelerating growth, reaching 33% in the 1Q18. That said, its marketing push to gain enterprise customers has resulted in steep losses.

Real estate SPAC  Trinity Merger  ( TMCXU ) is looking to raise $300 million at a $275 million market value. CEO Sean Hehir and CFO Kevin Hayahi have led the company's sponsor, Trinity Investments, for 20 years.

Transportation SPAC  VectoIQ Acquisition  ( VTIQU ) is expected to raise $200 million at a $256 million market value. CEO Stephen Girsky previously was tapped one executive tapped to lead General Motors' turnaround following its 2009 bankruptcy.

IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. The Renaissance IPO Index has returned 2.5% year-to-date, while the S&P 500 is up 2.0 % . Renaissance Capital's IPO ETF ( IPO ) tracks the index, and top ETF holdings include Spotify (SPOT) and Snap (SNAP). The Renaissance International IPO Index is down -0.6% year-to-date, while the ACWX is up 1.6%. Renaissance Capital's International IPO ETF ( IPOS ) tracks the index, and top ETF holdings include Orsted (DONG Energy) and Samsung BioLogics .

The article US IPO Week Ahead: Online training course unicorn Pluralsight leads 3 IPO week originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

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: IPO , IPOS , TMCXU , VTIQU , PS



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