When the equities markets took a hit a few weeks ago, so did IPOs. There were only a handful of new stocks that were able to pull off deals.
Yes, things were looking kind of grim. But the markets managed a sudden comeback — and now IPOs are back. In fact, there are 12 deals planned for this week.
What are they? Well, let’s take a look:
New Stocks to Watch: Antero Midstream Partners (AM)
Expected Offering Date: Wednesday
Antero Midstream Partners is a limited partnership, formed by Antero Resources (AR), that owns and operates midstream assets, which include gathering pipelines and compressor stations. The locations for these assets are in places like the Marcellus Shale in northwest West Virginia and Utica Shale in southern Ohio.
During the first half of this year, revenues spiked from $5 million to $29 million and adjusted EBITDA jumped from $1 million to $20 million.
Antero Midstream expects to issue 37.5 million shares at a range of $19 to $21. The lead underwriters include Barclays (BCS), Citi (C), Wells Fargo Securities (WFC), Credit Suisse (CS), JPMorgan (JPM) and Morgan Stanley (MS).
New Stocks to Watch: Nevro (NVRO)
Expected Offering Date: Thursday
Nevro is a medical device company that sells a neuromodulation platform for the treatment of chronic pain. So far, sales are in Europe and Australia. And as for the U.S. market, Nevro submitted for premarket approval and expects to begin marketing the device sometime in early 2016. The addressable market is about $1.5 billion.
Last year, revenues came to $23.5 million, up from $18.2 million in 2012. But the losses remain substantial. Last yet, Nevro posted a net loss of $26 million.
Nevro expects to issue 6.3 million shares at a range of $15 to $17. The lead underwriters include JPMorgan and Morgan Stanley.
New Stocks to Watch: Radius Bancorp (RADB)
Expected Offering Date: Thursday
Radius Bancorp is a regional bank, which is headquartered in Boston, Massachusetts. Roughly half of the deposits are from pension funds, unions and nonfprofits. Then again, the bank is currently owned New England Carpenters’ Benefits Funds and the Empire State Carpenters’ Pension Fund. With the IPO, these organizations will reduce their equity positions so as to avoid onerous regulations.
The bank has total assets of $702.8 million and is profitable. Last year, the firm generated earnings of $2 million, up 42% on a year-over-year basis.
Radius Bancorp intends to sell 5 million shares at a range of $11.75 to $13.75. The lead underwriters include Baird and Sandler O’Neill.
New Stocks to Watch: Triumph Bancorp (TBK)
Expected Offering Date: Friday
Triumph Bancorp is a regional bank, which is headquartered in Dallas, Texas. Triumph operates 18 branches, in Texas and other states like Iowa and Illinois. As a supplement to its services, the bank also has its own registered adviser platform to provide financial planning.
For the third quarter, the bank forecasts net income of $10 million to $10.5 million, up from $3 million in the prior quarter. The main reason for the jump was the gain from the sale of a branch.
Triumph Bancorp plans to offer 6.7 million shares at a range of $14 to $16. The lead underwriters include Sandler O’Neill, Evercore Partners (EVR) and Wells Fargo Securities.
New Stocks to Watch: Sky Solar Holdings (SKYS)
Expected Offering Date: Friday
Sky Solar Holdings is a power producer, which operates solar parks across the world. So far, the company manages about 53.9 MWs, mostly under fixed-rate, 20-year contracts. But the company also has 1.3 GWs of solar projects in various stages of development.
Yet the financials have been volatile. For the first half of this year, revenues plunged by 39% to $14 million. Although, adjusted EBITDA was still able to increase from a loss of $12 million to a gain of $800,000.
Sky Solar Holdings expects to sell12.5 million shares at a range of $10 to $12. The lead underwriters include FBR Capital Markets and Cowen & Company.
New Stocks to Watch: INC Research Holdings (INCR)
Expected Offering Date: Friday
INC Research Holdings is a global Contract Research Organization, or CRO, which provides outsourced services for clinical trials. The focus is primarily on therapeutics for central nervous system diseases and oncology.
For the first nine months of 2014, revenues rose 25% to $596 million and adjusted EBITDA climbed by 51% to $114 million. The backlog is about $1.5 billion, up by about 10% on a year-over-year basis.
INC Research Holdings plans to sell 8.1 million shares at a range of $17 to $20. The lead underwriters include Goldman Sachs (GS) and Credit Suisse.
New Stocks to Watch: Freshpet (FRPT)
Expected Offering Date: Friday
The company develops refrigerated fresh pet food, which is made in the US. The product is sold in more than 12,500 retail outlets in North America, which have Freshpet Fridges. Some of the customers include Kroger (KR), Petco, PetSmart (PETM), Target (TGT), Wal-Mart (WMT) and Whole Foods (WFM).
Growth has been strong. From 2012 to 2013, sales increased from $44 million to $63 million. But the company has continued to post losses. For the first six months of this year, the net loss was $11 million.
Freshpet plans to issue 10.4 million shares at a range of $12 to $14. The lead underwriters include Goldman Sachs and Credit Suisse.
New Stocks to Watch: Upland Software (UPLD)
Expected Offering Date: Thursday
Upland Software is a provider of cloud-based work management software. Some of the benefits include improved collaboration, scheduling, billing and governance. Upland has more than 1,200 customers and more than 200,000 users.
During the first nine months of the year, revenues soared 53% to $23 million, and adjusted EBITDA rose 30% to $2.6 million. Although, much of the growth was from acquisitions.
Upland Software plans to sell 3.8 million shares at a range of $12 to $14. The lead underwriters include William Blair and Raymond James.
New Stocks to Watch: Coherus BioSciences (CHRS)
Expected Offering Date: Thursday
Coherus BioSciences is a late-stage biotech company that is focused on protein-based biosimilar therapeutics. The company has two lead candidates, which are targeting the arthritis drugs of Amgen’s (AMGN) Enbrel and AbbVie’s (ABBV) Humira. One is in Phase 3 trials and the other is in Phase 1 trials. The target market for both is a staggering $19 billion.
So far, Coherus BioSciences has entered partnerships with Baxter International (BAX) and Daiichi Sankyo Company.
Coherus BioSciences expects to sell 6.3 million shares at a range of $12 to $15. The lead underwriters include J.P. Morgan and Credit Suisse.
New Stocks to Watch: Jaguar Animal Health (JAGX)
Expected Offering Date: Wednesday
Jaguar Animal Health company develops gastrointestinal products for companion and production animals. The lead candidate is Canalevia, which is targeted for the treatment of watery diarrhea in dogs.
Jaguar’s S-1 notes that “Diarrhea is one of the most common reasons for veterinary office visits for dogs,” yet there is no FDA-approved treatments for the problem.
Jaguar Animal Health plans to issue 5 million shares at a range of $7 to $9. The lead underwriters include BMO Capital Markets and Guggenheim Securities.
New Stocks to Watch: The Joint (JYNT)
Expected Offering Date: Wednesday
The Joint is a franchisor of chiropractic clinics, which are non-insurance based. There are currently a network of 225 clinics, such as in California, Texas, Arizona and Georgia.
For the first half of this year, revenues increased by 15% to $3.2 million. But the net loss came to $262.
The Joint expects to issue 3 million shares at a range of $9 to $11. The lead underwriters include Roth Capital and Feltl.
New Stocks to Watch: CVSL (CVSL)
Expected Offering Date: Wednesday
CVSL company acquires direct selling operators. The current portfolio spans categories like nutritionals, skin care and home improvement.
For the first half of this year, sales spiked by 122% to $41 million. Although, the loss increased from $4 million to $7 million.
CVSL plans to issue 6.7 million shares at a range of $8 to $10 per share. Keep in mind that it is currently traded on the OTCQX. But with the IPO, the company will list on NYSE.
The lead underwriters on the offering include Cantor Fitzgerald, JMP Securities and Janney Montgomery Scott.
Tom Taulli runs the InvestorPlace blog IPO Playbook. He is also the author of High-Profit IPO Strategies, All About Commodities and All About Short Selling. Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.
