US IPO Week Ahead: Online training course unicorn Pluralsight leads 3 IPO week
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|
|IssuerBusiness||Deal SizeMarket Cap||Price RangeShares Filed||TopBookrunners|
|Trinity Merger ( TMCXU )Honolulu, HI||$300M$375M||$1030,000,000||B. Riley & Co.|
|Blank check company formed by Trinity Investments to acquire a real estate business.|
|VectoIQ Acquisition ( VTIQU )Mamaroneck, NY||$200M$256M||$1020,000,000||CowenChardan|
|Blank check company led by former GM execs and focused on smart transportation businesses.|
|Pluralsight ( PS )Farmington, UT||$228M$1,525M||$10 - $1220,700,000||Morgan StanleyJP 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.
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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.
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