Six IPOs are on tap this week – with nothing on the IPO Calendar for the rest of February – as another U.S. government shutdown looms if a bipartisan border security deal can’t be reached by midnight on Friday. Border talks hit a snag on Sunday, increasing the possibility that a second shutdown could occur. (The first shutdown, which lasted 35 days, was the longest in U.S. history.)
So Wall Street is racing the clock to take six companies public before Friday. Of those six names, one IPO – BankFlorida – is a carryover from last week.
Two other deals are also on this week’s calendar – a biotech whose stock trades on the Tel Aviv Stock Exchange and a chain of Tennessee-based chiropractic clinics that plans a unit offering of common stock and warrants. Anchiano Therapeutics, the biotech, is a public offering and not an IPO. The other deal, by IMAC Holdings, is also a carryover from last week. (IPOScoop.com does not include unit offerings in its tally of initial public offerings.)
The sweet spot this week belongs to Avedro, a medical ophthalmic device company whose IPO has attracted a healthy amount of interest. Avedro is set to start trading on Valentine’s Day, which falls on Thursday, Feb. 14th.
Let’s take a look at the names on this week’s IPO Calendar – six IPOs plus one public offering – organized by pricing and trading dates.
Monday pricing for Tuesday trading
Anchiano Therapeutics Ltd (ANCN proposed), based in Jerusalem, is a Phase 3 biotech company developing therapies to treat early-stage bladder cancer. The company plans to offer 2.4 million American Depositary Shares (ADS) at $14.55 each. Anchiano’s stock already trades on the Tel Aviv Stock Exchange. This is a public offering, not an IPO.
BankFlorida (BFL proposed), based in Palm Beach Gardens, is a state-chartered community bank catering to small and medium-sized businesses as well as individuals. This IPO is a carryover from last week. The company plans to offer 4.2 million shares at $9.50 to $10.50 each.
Tuesday pricing for Wednesday trading
Virgin Trains USA (VTUS proposed), the high-speed passenger train service backed by billionaire Richard Branson, is planning to expand from its Miami-to-West Palm Beach line to other points in Florida, Las Vegas and elsewhere. The company entered into a licensing agreement with Branson’s Virgin Group late last year. Virgin Trains USA expects to offer 28.3 million shares at $17 to $19 each.
Wednesday pricing for Thursday trading
Avedro (AVDR proposed) is a medical ophthalmic technology company specializing in treating corneal disorders. The company says its “proprietary Avedro Corneal Remodeling Platform is designed to strengthen, stabilize and reshape the cornea” through minimally invasive and non-invasive outpatient procedures. Avedro plans to offer 5 million shares at $14 to $16 each.
Cibus (CBUS proposed), based in San Diego, is an agricultural biotech company using advanced technologies to develop desirable plant traits for the global crop seed industry. The company’s proprietary gene-editing technology can fine-tune a plant seed’s DNA without inserting genes from other species – resulting in seeds that are non-GMO (non-genetically modified). Cibus plans to offer 6.7 million shares at $14 to $16 each.
TCR2 Therapeutics (TCRR proposed), based in Cambridge, Massachusetts, is an immunology company developing the next generation of T cell therapies to treat cancer patients. Its pipeline of drugs includes treatments targeting ovarian cancer, pancreatic cancer and certain types of leukemia and lymphoma. TCR2 Therapeutics plans to offer 5 million shares at $14 to $16 each.
Thursday pricing for Friday trading
Stealth BioTherapeutics (MITO proposed), a Cayman Islands company with a U.S. unit based in Newton, Massachusetts, is focused on the development, discovery and commercialization of therapies to treat mitochondrial disorders. The mitochondria are the powerhouses of the cell, Stealth says in the prospectus. Stealth’s drug candidates are targeting rare diseases as well as age-related macular degeneration, the leading cause of blindness among older adults in the developed world. The company plans to offer 6.2 million American Depositary Shares (ADS) at $12 to $14 each.
(For more information on these companies, please check the company profiles on IPOScoop.com’s website.)
Week of Feb. 18th
The IPO slate is blank for next week – and the week after that. But anything can happen when the U.S. Securities and Exchange Commission’s filing window opens again for business on Monday morning.
Disclosure: Neither the author nor anyone else on the IPOScoop.com staff has a position in any stocks mentioned, nor do we trade or invest in IPOs. The author and IPOScoop.com staff do not issue advice, recommendations or opinion.