The IPO Buzz: Bring On the Merry Month of May

The merry month of May arrives this week with a calendar of 11 IPOs expecting to raise $4.4 billion. Nine are on tap for this week, aiming to raise $780 million, and two are set for the following week, planning to raise $3.6 billion. The IPO calendar for May 2018 is on track to blow past the average May, based on data going back to 2001. Let’s take a look at past numbers.

For the month of May in 2001 through 2017, bankers priced a total of 277 IPOs, according to the U.S. Securities and Exchange Commission’s filings. May’s 17-year median average amounts to 15 IPOs per month. The busiest May had 35 IPOs in 2017; the slowest May had two in 2003. May 2018 already has 11 IPOs in the wings – and the workday sun has yet to rise on Wall Street.

Below is this week’s traffic pricing by the day.

Tuesday evening for Wednesday’s trading:

PermRock Royalty Trust (PRT proposed), based in Fort Worth, Texas, is a Delaware statutory trust created in November 2017 to acquire, develop and operate oil and natural gas properties in the Permian Basin. The company intends to make an annual cash distribution of $2.40 per unit.

(For more information about the above company and others on the IPO calendar, please check the profiles found on’s website.)

Wednesday evening for Thursday’s trading:

ASLAN Pharmaceuticals (ASLN proposed), based in Singapore, is a clinical-stage oncology-focused biopharmaceutical company focused on developing novel therapeutics for global markets. Note: The company’s stock has traded on the Taipei Exchange since June 2017.

Inspire Medical Systems (INSP proposed), based in Maple Grove, Minnesota, is a medical device company that sells an implant device for patients with obstructive sleep apnea.

Unity Biotechnology (UBX proposed), based in Brisbane, California, is a pre-clinical biotechnology firm developing therapies to reduce the effects of aging. Over the last six years, Unity has been identifying multiple mechanisms that it believes to be the root causes of age-associated disease.

Thursday evening for Friday’s trading:

BayCom (BCML), based in Walnut Creek, California, is a bank holding company. United Business Bank, its wholly owned banking subsidiary, provides a range of financial services primarily to local small and mid-sized businesses, service professionals and individuals. Note: Baycom’s stock has been traded on the OTCQB since 2016 under the symbol BCML.

Carbon Black (CBLK proposed), based in Waltham, Massachusetts, is a provider of next-generation endpoint security solutions. The company’s predictive security cloud platform continuously captures, records and analyzes rich, unfiltered endpoint data. Its solutions enable customers to predict, prevent, detect, respond to and remediate cyberattacks before they cause a damaging incident or data breach.

Construction Partners (ROAD proposed), based in Dothan, Alabama, is a road construction and paving company in the Southeastern United States.

Spirit of Texas Bancshares (STXB proposed), based in Conroe, Texas, is a bank holding company in the Houston metropolitan area. The company offers commercial and retail banking services through the Spirit of Texas Bank, its wholly owned bank subsidiary, through 15 full-service branches located mostly in the Houston and Dallas/Fort Worth metropolitan areas.

May’s Second Week

For the week of May 7, 2018, the IPO calendar has two deals. One is attracting a lot of attention: AXA Equitable Holdings (EQH proposed) is looking to raise about $3.5 billion.

Nevertheless, anything can happen when the SEC’s filing window opens again for business on Monday morning.

Stay tuned.

Disclosure: Neither the author nor anyone else on the staff has a position in any stocks mentioned, nor do we trade or invest in IPOs. The author and staff do not issue advice, recommendations or opinions.