This week, the IPO market has churned back to life after its usual stint of hibernation that started in mid-August. Right now, the calendar has seven deals on tap, with three in particular standing out. Here’s a look at those IPOs:
Trulia
Shares Planned: 6 million
Expected Range: $14-$16
Lead Underwriters: JPMorgan Chase (NYSE:JPM) and Deutsche Bank (NYSE:DB)
Trulia operates an online platform to help people buy and sell homes, powered by a database of more than 110 million properties. For the first half of the year, the number of unique monthly visitors reached 22 million. Trulia also boasts 360,000 active real estate professionals, of which 21,544 pay for subscriptions.
The company has been aggressive with its mobile products, which include apps for Apple’s (NASDAQ:AAPL) iPhone and iPad, Amazon‘s (NASDAQ:AMZN) Kindles and devices powered by Google‘s (NASDAQ:GOOG) Android OS. Trulia gets about 4.3 million monthly unique mobile users.
In terms of financials, Trulia has shown strong growth over the years. From 2009 to 2011, revenues have grown from $10.3 million to $38.5 million. However, the company continues to post losses, currently amounting to $7.6 million for the first half of 2012 (on revenues of $29 million).
Smith Electric Vehicles
Shares Planned: 4.5 million
Expected Range: $16-$18
Lead Underwriters: UBS Investment Bank (NYSE:UBS), Deutsche Bank, Barclays (NYSE:BCS), CRT Capital Group
Smith Electric Vehicles manufactures zero-emission commercial electric vehicles, which are generally more efficient than diesel trucks. It produces the key components, such as the powertrain, power management systems and telemetry technologies.
For 2012, Smith forecasts production of 380 vehicles, and the company claims it expects “to significantly increase … production in 2013 and in future years.” However, the company did not provide actual estimates for those years.
What’s more, Smith remains a money vacuum. For the first six months of 2012, the company posted a net loss of $27.3 million.
GlobeImmune
Shares Planned: 5 million
Expected Range: $11-$13
Lead Underwriters: Wells Fargo Securities (NYSE:WFC) and Piper Jaffray
GlobeImmune is a biotech operator that focuses on treatments for cancer and a variety of infectious diseases. At the core is its Tarmogen platform, which helps to stimulate white blood cells to destroy diseases. So far, GlobeImmune has four drugs in clinical trials, but none currently on the market.
To bolster development, GlobeImmune has strategic collaborations with Celgene (NASDAQ:CELG) for its oncology product, as well as Gilead Sciences (NASDAQ:GILD), which covers its drug for the chronic hepatitis B virus.
Other IPOs
The four other offerings slated for this week are:
- Capital Bank Financial: A bank that has branches in several southeast states.
- National Bank Holdings: A bank that operates 101 branches in in Kansas and Colorado.
- Spirit Realty Capital: A real estate investment trust (REIT) that is focused on retail and restaurant locations.
- Susser Petroleum Partners, LP: A wholesale distributor of motor fuels.
Tom Taulli runs the InvestorPlace blog IPOPlaybook, a site dedicated to the hottest news and rumors about initial public offerings. He also is the author of “All About Short Selling” and “All About Commodities.” Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.
A long-time follower of the IPO scene, back in 1999 Tom started one of the first sites in the space called WebIPO. It was a place where investors got research as well as access to deals for the dot-com boom. Tom also wrote the top-selling book, Investing in IPOs. In it, he covers all the aspects of analyzing an IPO, such as reading the prospectus, detecting the risk factors and understanding some of the arcane regulations. But don’t worry — if that process is too intimidating for you, thankfully Tom will do the legwork for you right here in the IPO Playbook blog.
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