In what will likely be the last week for IPOs, three deals are expected to hit the market. It’s actually turned out to be a light December, as there has only been one offering so far.
Anyways, let’s take a look at the upcoming transactions.
SolarCity: This company is an installer of solar panels for homes and businesses. It requires customers to sign a 20-year contract to pay for energy (which is often at a steep discount to the retail price), then uses the contracts to get financing for the upfront costs. The mastermind of SolarCity is Elon Musk, who is also the co-founder of other breakout companies like eBay’s (NASDAQ:EBAY) PayPal, Tesla (NASDAQ:TSLA) and SpaceX.
Demand has been strong; SolarCity is currently snagging a customer about every five minutes. For the first nine months of 2012, revenues soared by 167% to $103.4 million. Still, there was a net loss of $77.9 million.
PBF Energy: This is the No. 5 player in the U.S. refining market, a company which got its start back in 2008 through a spate of mergers backed by the Blackstone Group (NYSE:BX). In fact, the company’s executive chairman, Thomas O’Malley, is a legend in the oil business. He has built companies like Premcor.
For the first nine months of 2012, PBF’s revenues came to $15.2 billion, compared to revenues of $10.2 billion in the same period a year ago.
Audeo Oncology: Last but not least is this company, which develops drugs to target cancerous tumors. The focus is on enhancing treatments without increasing the toxicity. It was founded in 2006 and is in the clinical stages, so it has no revenues.
Audeo Oncology plans to issue 3.3 million shares at a range of $14 to $16. The lead underwriters include Leerink Swann and Oppenheimer & Co.
Tom Taulli runs the InvestorPlace blog IPO Playbook, a site dedicated to the hottest news and rumors about initial public offerings. He is also the author of “How to Create the Next Facebook” and “High-Profit IPO Strategies: Finding Breakout IPOs for Investors and Traders.” Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.