The IPO Buzz: When Bankers Rev Their Engines

All of the action took place at the U.S. Securities and Exchange Commission’s IPO filing window last week. The break for Memorial Day meant the U.S. stock markets were closed Monday. But by Tuesday morning, bankers were revving their engines. They made the most of the four-day week by keeping the SEC’s window busy.

The scorecard for the week: Nine companies filed for IPOs, four more updated their earlier IPO filings, and one “blank check” deal made it out the door to open the month of June.

KBL Merger Corp. IV (KBLMU) priced its IPO of 10 million units at $10 each on Thursday evening, June 1. The deal opened much as expected at $10 and closed at $10 on Friday. KBL Merger intends to invest in opportunities associated with the health-care and related wellness industries.

Better Meals in a Box

Lightning flashed with the $100 million Blue Apron Holdings (APRN – proposed) IPO filing.

Blue Apron was founded on a simple desire. Its founders wanted to cook meals at home with their families, but grocery shopping and menu planning were burdensome, time consuming and expensive. They had an answer. It was home delivery.

The company’s first delivery was a box with three recipes —seared hanger steak, barbecue Cornish game hen and lemongrass shrimp with soba noodles — and the pre-portioned ingredients needed to cook them. From Blue Apron’s founding in 2012 through March 31, 2017, the company has delivered over 159 million meals to households across the United States.

(For more information, please check out Blue Apron’s profile on the website.)

An Early June Foursome

Nevertheless, all that was last week. Let’s move on to this one. The IPO calendar lists a total of four deals. One is a specialty pharmaceutical company, another is a real estate investment trust (REIT), a third is a gunshot detector platform and the fourth is a small-cap offering. The four are looking to raise about $162 million. Here’s a snapshot of three of this week’s four IPOs:

Avenue Therapeutics (ATXI – proposed), based in New York City, is a specialty pharmaceutical company focused on the development and commercialization of an intravenous formulation of tramadol HCl to manage moderate to moderately severe postoperative pain.

Plymouth Industrial REIT (PLYM – proposed), based in Boston, is a real estate investment trust focusing on the acquisition, ownership and management of single-and multi-tenant Class B industrial properties, including distribution centers, warehouses and light industrial properties, primarily located in secondary and select primary markets across the United States.

ShotSpotter (SSTI – proposed), based in Newark, California, provides gunshot detection solutions that help law enforcement officials and security personnel identify, locate and deter gun violence. Its customers are located in the United States, Puerto Rico, the U.S. Virgin Islands and South Africa.

(For more information, please check the IPO profiles found on’s website.)

A Peek at Mid-June

This brings us to the week of June 12, 2017, and the calendar has just one small-cap offering. However, a lot could happen when the SEC’s filing window pops open again 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 opinion.