There are 10 IPOs scheduled this week, with bankers expecting to raise nearly $1.5 billion. The heaviest traffic is forecast for Thursday, when five of the 10 are set to start trading.
Data and Heat
This week’s healthcare data IPOs are part of the data analytics software trend, a category generating plenty of heat in the IPO summer of 2019. Just look at the magic in Friday’s market, when the IPO of Medallia (MDLA) exploded with an opening-day gain of 76.4 percent. Medallia’s stock closed Friday on the New York Stock Exchange at $37.05, up 76.4 percent from its $21 IPO price.
The IPO’s pricing reflected the demand: Medallia priced 15.5 million shares at $21 on Thursday night. That was a sharp increase from its terms of 14.5 million shares at $16 to $18.
Medallia, based in San Francisco, says it created a new category of enterprise software – experience management. Its award-winning SaaS platform, the Medallia Experience Cloud, is used by global media companies, hospitality companies, banks and other global businesses to gather experience data from customers and employees, analyze the data and use the results to resolve issues and improve service.
Healthcare in the Spotlight
The healthcare sector dominates this week’s IPO Calendar, when most of the action will take place Wednesday night and Thursday morning.
Let’s take a look at this week’s deals, organized by pricing and trading dates.
Wednesday evening pricing for Thursday morning trading:
Castle Biosciences (CSTL proposed), based in Friendswood, Texas, offers genomic tools to assist in the diagnosis and treatment of skin cancer and uveal cancer (cancer in the iris of the eye). Note: Insiders are in for $15 million or nearly 30 percent of the $50 million IPO.
Health Catalyst, based in Salt Lake City, provides data analytics technology and services, mostly through subscriptions, to hospitals and other healthcare organizations. Its solution comprises a cloud-based data platform, analytics software and professional services expertise.
Livongo Health, based in Mountain View, California, provides a chronic illness management system for patients living with diabetes or other chronic illnesses, healthcare providers and payers. Insiders are in for $20 million or 8.7 percent of the $230 million IPO.
ProSight Global (PROS proposed), based in Morristown, New Jersey, is a specialty property and casualty insurer. Note: The company is offering about 3.5 million shares and selling shareholders are offering about 5.3 million shares.
Sunnova Energy International (NOVA proposed), based in Houston, installs and maintains solar energy systems. The company serves over 63,000 customers in more than 20 states and U.S. territories.
Thursday evening pricing for Friday morning trading:
Vista Oil & Gas, S.A.B. de C.V. (VIST proposed), based in Mexico City, is an independent Latin American oil and gas company. Note: This is a public offering, not an IPO. Its stock is traded on the Mexico Stock Exchange. Vista owns high quality producing assets with high margins and low operating costs in Argentina and Mexico.
Wanda Sports Group (WSG proposed), based in Beijing, is a global sports events, media and marketing platform.
WiMi Hologram Cloud (WIMI proposed), based in Beijing, offers augmented reality-based holographic advertising services and AR-based holographic entertainment products to cater to its customers’ needs.
Week of July 22nd Pricing
Blue Hat Interactive Entertainment Technology (BHAT proposed), based in Xiamen, China, develops and commercializes AR and interactive games, toys and educational products, including products that combine physical toys and mobile videogame features.
Fellazo (FLLCU proposed), based in Yong Kang City, Zhejiang Province, China, is a blank check company formed to acquire an operating company in the health food and supplement sector, although its efforts in identifying a prospective target business will not be limited to a particular industry.
(For more information about these companies, please check the corporate profiles on IPOScoop.com’s website.)
Week of July 29th
There are no IPOs scheduled so far for the final week of July, 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 opinions.