Seven IPOs are waiting to make their debuts this week. They expect to raise about $900 million. Two are on the “most wanted” list and another is a dark horse, according to the IPO professionals.
The “Most Wanted” List
Marketo (MKTO – proposed) and Tableau Software (DATA – proposed) are reportedly on everybody’s “most wanted” list. William Lyon Homes (WLH – proposed) is reportedly the dark horse on this week’s calendar.
Marketo plans to price about 6.1 million shares at $11 to $13 each on Thursday evening. The IPO is expected to start trading Friday morning on the NASDAQ Global Market under the proposed symbol “MKTO.” The joint-lead managers are Goldman Sachs and Credit Suisse. The co-managers are UBS Investment Bank, Canaccord Genuity, Raymond James and JMP Securities.
Based in San Mateo, California, Marketo is a provider of a cloud-based marketing software platform. The company’s platform enables its users to engage in modern relationship marketing and enables effective execution, management and analytical measurement of online, social and offline marketing activities and customer interactions. Marketo was formed in 2006. It has about 373 employees.
Marketo plans to sell about 5.8 million shares and selling shareholders plan to sell about 310,000 shares. The company expects to have about 35.8 million shares outstanding after the offering.
Tableau Software plans to price 7.2 million shares of Class A Common Stock at $23 to $26 each on Thursday evening. The IPO is expected to start trading on Friday morning on the New York Stock Exchange under the proposed symbol “DATA.” The joint-lead managers are Goldman Sachs and Morgan Stanley. The co-managers are Credit Suisse, J.P. Morgan, UBS Investment Bank, BMO Capital Markets and JMP Securities.
Based in Seattle, Tableau Software develops business intelligence software. The company’s products are designed to retrieve large volumes of data and quickly generate interactive dashboards, reports, and other data visualization tools. Tableau serves about 11,000 customers in over 100 countries. Among its clients are Deere, affiliates of Deloitte Touche, Tohmatsu Limited, E. I. du Pont de Nemours, the Federal Aviation Administration, Sears Holdings and affiliates of Verizon Communications. Tableau Software was formed in 2003. It has about 834 employees.
Tableau Software plans to sell 5 million shares of Class A Common Stock and selling shareholders plan to sell 2.2 million Class A Common Shares. The company expects to have about 57.5 million shares of Class A and Class B Common Stock outstanding after the offering.
The Dark Horse
William Lyon Homes, a Newport Beach, California-based regional homebuilder, plan to offer 8.7 million shares of Class A Common Stock at $22 to $24 each to begin trading on the New York Stock Exchange on Thursday morning under the proposed symbol “WLH.” The company was formed in 1956. It has about 259 employees.
Ambit Biosciences (AMBI – proposed) is a San Diego-based pharmaceutical company.
Tallgrass Energy Partners, LP (TEP – proposed) is an Overland, Kansas-based limited partnership that provides natural gas transportation and storage services.
Note: The company intends to pay quarterly cash distributions of $0.2875 per units ($1.15 per unit on an annualized basis) to yield 5.2 percent.
The Week That Was
Last week’s IPO calendar produced 11 offerings, according to the U.S. Securities and Exchange Commission’s filings. They raised over $2.3 billion for corporate America. Wall Street bankers collected about $140 million in underwriting fees and commissions. Investors got an average opening-day gain of 1.54 percent.
Of the 11 IPOs priced last week, six finished their opening-day trading in the winner’s circle, two were losers and three finished unchanged from their initial offering prices.
This brings us to next week. At press time, there were three deals on the IPO calendar for the week of May 20, 2013. They expect to raise almost $200 million. But there is plenty of time for additions.
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.