Beyond Listening & Pipeline 2017-11-13


BEYOND LISTENING: “The most important thing in pitches is hearing what is not said.” – JD Morris

ACTION TO RESULTS:  What are you hiding from yourself or your partners in your business plan or pitch.  Address this issue in a backup slide or take you partners out to lunch to have a long talk about can this issue be addressed! – riseSEA Analysis Program

BusinessAnalysis

PIPELINE (IPO Focus)

• Apellis Pharmaceuticals, a Crestwood, Kentucky-based company raised $150 million in an offering of 10.7 million shares at $14 a piece. In 2016, the company posted loss of $27.1 million. Morningside Venture Investments(28% pre-IPO), Potentia Holdings(9.9%), and venBio Funds(9.4%) back the company. Citigroup and J.P. Morgan are underwriters in the deal. The company plans to list on the Nasdaq as “APLS.”

• Luther Burbank, a Santa Rosa, Calif.-based residential loan-focused bank, filed for an $150 million IPO. In 2016, the company posted income of $52.1 million and assets of $5.1 billion. Keefe, Bruyette & Woods and Sandler O’Neill + Partners are joint bookrunners in the deal. The company plans to list on the Nasdaq as “LBC.”

• Erytech Pharma, a Lyon, France biotech developing cancer treatments, raised $109 million in an offering of 4.7 million ADSs at $23.36 a piece. In 2016, the company, posted revenue of $4.9 million and loss of $25.7 million. Baker Bros Advisors(15.4% pre-offering) and Auriga Partners (9.8%) back the company. Jefferies, Cowen & Company, and Oddo BHF are joint bookrunners in the deal. The firm plans to list on the Nasdaq as “ERYP.”

• Bandwidth, a Raleigh, N.C.-based API software company, raised $80 million in an offering of 4 million shares at $20  a piece, the low end of its range. In 2016, the company posted revenue of $152 million and income of $22.4 million. The company is backed by Carmichael Investment. Morgan Stanley, KeyBanc Capital Markets, Baird, Canaccord Genuity, and JMP Securities are underwriters in the deal. The company plans to list on the Nasdaq as “BAND.”

 Quanterix, a Lexington, Mass.-based protein detection test maker, filed for a $57.5 million IPO. In 2016, the company posted revenue of $17.6 million and loss of $23.2 million. ARCH Venture Partners(21.8% pre-offering) and Bain Capital(12.7%) back the company. J.P. Morgan and Leerink Partners are joint bookrunners in the deal. The company plans to list on the Nasdaq as “QTRX.”

• PPDAI Group, a Shanghai, China-based peer-to-peer lending platform, raised $221 million in an offering of 17 million shares at $17, within its range. The company posted revenue of $175.1 million and loss of $8.7 million in 2016. Backers include Sequoia Capital China(25.5% pre-IPO) and Lightspeed China Partner(10.4%). Credit Suisse and Citi are underwriters in the deal. The company plans to list on the NYSE as “PPDF.”

DISCLAIMER:  This information is provided by AP, Bloomberg, Forbes, Fortune,  preqin, Reuters, TechCrunch, VentureBeat, Wall Street Journal (WSJ), and other 3rd party sources.  Please check with the company website as this a beta blog and will not be updated.

Happy Networking & Investing,

Investor Network by JD

Author: JD Morris

Learn more about JD Biography on LinkedIn: http://www.linkedin.com/in/jdmorris

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