PIPELINE – IPO


IPOs are alive and well!  Here are few this month:

 

• Greensky, an Atlanta, Ga.-based sales platform, raised $874 million in an IPO of 38 million shares priced at $23, an upsized IPO at the tip end of its range (previously, the firmplanned to sell 34.1 million shares priced between $21 to $23). Pacific Investment Management Company and TPG back the firm. Goldman Sachs, J.P. Morgan, and Morgan Stanley are underwriters in the deal. The firm listed as “GSKY” Thursday on the Nasdaq. Read more.

• Focus Financial Partners, a New York-based wealth management firm, filed for an $100 million IPO. The firm posted revenue of $662.9 million in 2017. Goldman Sachs, BofA Merrill Lynch, and KKR are underwriters in the deal. The firm plans to list on the Nasdaq as “FOCS.” Read more.

• Magenta Therapeutics, a Cambridge, Mass.-based focused on bone marrow transplants, filed for a $100 million IPO. J.P. Morgan, Goldman Sachs, and Cowen are underwriters in the deal. The firm has yet to post a revenue. Third Rock Ventures (28.9%), Atlas Venture (17.5%), and Alphabet (12%) back the firm.

• Kezar Life Sciences, a South San Francisco-based small molecule therapeutics maker for autoimmune diseases and cancer, filed for an $80.5 million IPO. The firm has yet to post revenue. Morningside Venture Investments (15.5% pre-offering), Cormorant Asset Managers (9.9%), Onyx Therapeutics (8.4%), and Cowen Healthcare Investments  (7.6%) back the firm. Jefferies, Cowen, Wells Fargo, and William Blair are underwriters in the deal. The firm plans to list on the Nasdaq as “KZR.” Read more.

• Scholar Rock Holding, a Cambridge, Mass.-based biotech developing diseases in which protein growth plays a main factor, raised $75 million in an IPO of 5.36 million shares priced at midpoint of $14 a share. Fidelity (15%), Polaris Venture (14%), ARCH Venture (14%), and Artal International(10%) back the firm. Jefferies, Cowen, and BMO Capital Markets are underwriters in the deal. The firm listed on the Nasdaq as “SPRK” ThursdayRead more.

• Xeris Pharmaceuticals, a Chicago-based Glucagon pen maker, filed for a $75 million IPO. Palmetto Partners (14% pre-offering), Deerfield Management (12.3%), and Redmile Group (12.3%) back the firm. Jefferies, Leerink Partners, RBC Capital, and Mizuho Securities are underwriters in the deal. The company plans to list on the Nasdaq as “XERS.” Read more.

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Author: JD Morris

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

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