The traffic was brisk at the SEC’s filing window last week, when 14 companies updated their previous IPO filings. Ten of those 14 companies jumped onto this week’s IPO Calendar. (At this time a week ago, there was nothing scheduled for the week of July 14th.)
The heavy traffic last week included five companies that filed S-1s for new IPOs, according to U.S. Securities and Exchange Commission records. There was also some pricing action: Three blank check deals got done.
Ten Deals on Tap
This week’s IPO Calendar features 10 deals. Two IPOs hail from the tech sector – Phreesia and Medallia – and one of those, Medallia, is a unicorn. (A unicorn is a private company with a valuation of $1 billion or more.)
Most of the action is expected to take place Wednesday evening, July 17th, when six offerings are set for pricing to start trading on Thursday morning, July 18th.
Worth noting: Two of this week’s 10 deals are public offerings – not IPOs. One company’s stock is traded on Nasdaq Copenhagen and its American Depositary Shares (ADS) are traded on the U.S. over-the-counter market. The other company’s stock trades on the Lima Stock Exchange.
Let’s take a look at the week, organized by pricing and trading dates:
Tuesday evening pricing to trade Wednesday morning:
DouYu International Holdings (DOYU proposed), based in China, says it is “the largest game-centric live streaming platform in China and a pioneer in the eSports value chain.”
Wednesday evening pricing to trade Thursday morning:
AssetMark Financial Holdings (AMK proposed), based in Concord, California, describes itself as a provider of wealth management and technology solutions used by independent financial advisers and their clients.
Fulcrum Therapeutics (FULC proposed), based in Cambridge, Massachusetts, is a clinical-stage biopharmaceutical company focused on developing therapies for rare genetically defined diseases with high unmet medical need. The company says its proprietary product engine “systematically identifies and validates cellular drug targets that work by modulating gene expression, the root cause of genetically defined maladies.” Its first product candidate, losmapimod, “is a small molecule that we are developing for the treatment of FSHD, a rare, progressive and disabling muscle wasting disorder that leads to significant physical impairments and disability,” the prospectus says.
Genmab A/S (GMAB proposed), based in Copenhagen, Denmark, is a public offering – not an IPO. The company’s ordinary shares are listed on Nasdaq Copenhagen A/S under the symbol “GEN” and its American Depositary Shares are traded on the over-the-counter market in the United States under the symbol “GMXAY.”
Genmab is an international biotech company specializing in antibody therapeutics to treat cancer and other diseases.
Mirum Pharmaceuticals (MIRM proposed), based in Foster City, California, is a biopharmaceutical company focused on developing novel therapies for liver diseases. Its leading drug candidates include maralizibat, an oral drug in Phase 3 development to treat pediatric patients with an inherited bile secretion disorder.
Owl Rock Capital Corp. (ORCC proposed) is a New York-based closed-end investment management company that invests in debt that is typically not rated, but if these instruments were rated, they would likely be below investment grade – or “junk,” according to the prospectus. Owl Rock Capital says it invests in “senior secured or unsecured loans, subordinated loans or mezzanine loans and, to a lesser extent, equity-related securities including warrants, preferred stock and similar forms of senior equity, which may or may not be convertible into a portfolio company’s common equity.”
Phreesia (PHR proposed) is a New York-based health-care software company that was founded in 2005. Its Phreesia Platform is a SaaS-based suite of solutions to facilitate patient visits to doctors and other health-care providers and to process patients’ payments for health-care services. (SaaS stands for software as a service.)
Thursday evening pricing to trade Friday morning:
Afya Limited (AFYA proposed) says it is the leading medical education group in Brazil, based on number of medical school seats, as published by the country’s Ministry of Education (MEC) as of Dec. 31, 2018. The for-profit company “serves and empowers students to be lifelong medical learners from the moment they join us as medical students through their medical residency preparation, graduation program, and CME,” the prospectus says. (CME stands for continuing medical education.)
Intercorp Financial Services (IFS proposed), based in Lima, Peru, is a public offering – not an IPO. The company’s stock is listed on the Lima Stock Exchange (Bolsa de Valores de Lima) under the symbol “IFS.”
IFS is a leading provider of banking, insurance and wealth management services for retail customers and commercial clients in Peru. The company says it has “invested in building a leading and scalable digital platform (mobile and online), which is rapidly being adopted by existing and new customers.”
Medallia (MDLA proposed), a tech unicorn based in San Francisco, says it created a new category of enterprise software – experience management – and notes that it is the market leader. Its award-winning SaaS platform, the Medallia Experience Cloud, is used by big companies to gather customer feedback, analyze it and act on it, according to the Silicon Valley Business Journal. Medallia’s largest shareholder is Sequoia Capital, the prospectus says.
(For more information about these companies, please check the corporate profiles on IPOScoop.com’s website.)
Week of July 21st
Only two IPOs are scheduled so far for the fourth and final full week of July. But anything can happen when the SEC’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 opinions.