Pinterest and Zoom are the marquee names on this week’s IPO Calendar. But the magic of the IPO world opened to Wall Street last week when Uber Technologies (UBER proposed) filed its long-awaited S-1 to go public. The traffic got heavier.
Over the past week, a total of 14 companies filed for IPOs to raise over $2.28 billion. Uber was, of course, part of that crowd.
Another eight companies, including Pinterest, filed amendments to their prospectuses (S-1As) last week – and those eight companies are looking to raise over $2.64 billion.
Pinterest popped onto the IPO Calendar this week after filing its S-1A last week for its $1.2 billion offering. The upshot: The IPO Calendar for the week of April 15th swelled to eight IPOs. At this time last week, the “week of April 15th” IPO Calendar had just one deal.
Bankers expect to raise over $2.47 billion from the eight IPOs on this week’s calendar.
Adding more sparkle to the magic, only three IPOs were priced last week and each exploded in the aftermarket. By the close on Friday, those three IPOs had scored an average gain of 63.7 percent.
Let’s take a look at those three IPOs from the week of April 8th: Jumia (JMIA) priced its IPO on Thursday at $14.50 and it closed Friday, April 12, 2019, at $25.46, UP 75.7 percent from its IPO price. PagerDuty (PD) priced its IPO on Wednesday at $24 and it closed Friday at $39.50, UP 64.6 percent from its IPO price. Tufin Software Technologies Ltd. (TUFN) priced its IPO on Wednesday at $14 and it closed Friday at $21, UP 50 percent from its IPO price.
On April 11, 2019, Uber filed for an IPO to raise $1 billion, but no pricing terms were announced. This is normal. The filing amount determines the size of the filing fee that the company pays to the U.S. Securities and Exchange Commission. A billion-dollar offering costs the filing company – in this instance, Uber – an SEC filing fee of $121,200. In contrast, a company filing for an IPO of only $86.25 million would pay the SEC a filing fee of only $10,453.50.
Eight Deals in a Four-Day Week
Pinterest and ZOOM are the names in focus on this week’s IPO calendar, according to the IPO professionals. There are eight deals set for pricing in a four-day work week. Wall Street will be closed for Good Friday. Passover will begin at sundown on Friday.
Most are scheduled to be priced Wednesday evening, April 17th, to trade Thursday morning, April 18th. Let’s take a look at the IPO Calendar, organized by pricing and trading dates.
Tuesday evening for Wednesday morning
Brainsway Ltd. (BWAY proposed), based in Jerusalem, is a commercial-stage medical device company focused on the development and sale of non-invasive neuromodulation products to treat major depression and OCD (obsessive-compulsive disorder).
Technically, Brainsway is a public offering. It is not an IPO. Brainsway’s stock already trades on the Tel Aviv Stock Exchange.
Palomar Holdings (PLMR – proposed), based in La Jolla, California, is focused on the provision of specialty property insurance. The company focuses on certain markets that it believes are underserved by other insurance companies, such as the markets for earthquake, wind and flood insurance.
Wednesday evening for Thursday morning
Brigham Minerals (MNRL proposed), based in Austin, Texas, is focusing on acquiring mineral and royalty interests across four of the most active and highly economic liquids-rich resource basins in the continental United States, including the Permian Basin in Texas and New Mexico, the SCOOP and STACK plays in the Anadarko Basin of Oklahoma, the DJ Basin in Colorado and Wyoming, and the Williston Basin in North Dakota.
Greenlane Holdings (GNLN proposed), based in Boca Raton, Florida, distributes vaporization products through its retail store chain as well as through independent smoke shops and regional retail chain stores.
HOOKIPA Pharma (HOOK proposed), based in New York City, is a clinical-stage biopharmaceutical company developing a new class of immunotherapeutics targeting infectious diseases and cancers based on its proprietary arenavirus platform that is designed to reprogram the body’s immune system.
Pinterest (PINS proposed), based in San Francisco, is known for its digital “pin board” or online vision board beloved by brides, fashionistas, style-conscious mothers, savvy cooks and home décor or home renovation fans. Pinterest users post images of things they love by “pinning” them to their online boards and sharing those images with other users. They also share GIFs and videos, albeit on a smaller scale. Pinterest is a social network. Most of its users are women.
Turning Point Therapeutics (TPTX proposed), based in San Diego, is a clinical-stage biopharmaceutical company designing and developing novel small molecule, targeted oncology therapies.
Zoom Video Communications (ZM proposed) based in San Jose, California, provides remote conferencing services using cloud computing. Zoom offers communications software that combines video conferencing, online meetings, chat and mobile collaboration.
(For more information on these companies and other IPOs, please check the company profiles on IPOScoop.com’s website.)
Next Week: Nothing Yet
For the week of April 22, 2019, the IPO Calendar is clean and green. Nevertheless, 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.