January 10, 2020 / 2:13 PM / 12 days ago

CORRECTED-IFR US ECM Calendar

(Corrects final terms of Luckin Coffee’s ADS offering)

NEW YORK, Jan 10 (IFR) -

PRICED

Essential Properties Realty Trust (US, REIT) – $173.9m ABB. 6.9m shares (100% prim) at $25.20 versus $24.45-$25.20 marketing and $25.47 last sale. BARC, BOFA, CITI. Upsized from 6.25m shares.

Kimbell Royalty Partners (US, royalty trust) – $77.5m ABB. 5m units (100% prim) at $15.50 fixed reoffer versus $17.37 last sale. CS, RJ, GS, RBC, UBS.

Luckin Coffee (China, food and retail) – $579.6m FO. 13.8m ADSs (65% prim, 35% sec) at $42.00 versus $44.37 last sale and $35.11 at launch. CS, MS, CICC, HAIT. Upsized from 12m ADS.

Luckin Coffee (China, food and retail) – $400m 5y cvt talked at 0.75%, up 30% versus talk of 0.5%-1% and 27.5%-32.5%. CS, MS, CICC, HAIT.

Matinas BioPharma (US, biotech) – $50m FO. 32.3m shares (100% prim) at $1.55 versus $1.50-$1.60 marketing and $1.91 last sale. PS, STRH.

Mirati Therapeutics (US, biotech) – $302.3m FO. 3.1m shares (100% prim) at $97.50 versus $98.44 last sale and $104.74 launch. GS, SVBL, COWN. Upsized from $250m.

MongoDB (US, SaaS) – $1bn CB priced at 0.25%, up 42.5% versus talk of 0%-0.5% and 37.5%-42.5%. MS, GS, BARC. Repurchased $210m principal ($300m outstanding) of 0.75% CB due 2024. Upsized from $750m.

Palomar  (US, P&C insurance) – $245m FO. 5m shares (15% prim, 85% sec) at $49.00 versus $50.53 last sale and $50.04 launch. BARC, JPM, KBW.

CALENDAR

January 16: I-MAB (Cayman Islands/China, biotech) – $111.1m IPO. 7.4m ADSs (100% prim) at $12-$15. JEFF, CICC. Insider IOIs for up to $48m, including $15m from C-Bridge Investment Thirteen. Separate concurrent $37m placement to Everest Medicines.

January 16: Lizhi (China, social media) – $53.3m IPO. 4.2m ADSs (100% prim) at $11-$13. CITI. Weibo, Xiaomi, and other investors have indicated for $36m.

January 16: Phoenix Tree (China, real estate/apartment rentals) – $175m IPO. 10.6m ADSs (100% prim) at $14-$16. NYSE “DNK”. CITI, CS, JPM. Existing investor indicated for $55m, and strategic investor for $60m.

January 16: Velocity Financial (US, real estate finance) – $116m IPO. 7.25m shares (100% prim) at $14-$16. WF, CITI, JMP.

Early February: Petrobras (Brazil, oil & gas) – $5.9bn FO. 734m shares (100% sec) versus R$31.99 at file ($15.99 per ADS). CS, BAML, BRAD, BDB, CITI, GS, MS, XP. Hearing launching Jan 22. Each ADS represents two common shares. Selling shareholder is Brazilian government-owned development bank BNDES.

Reporting by Robert Sherwood

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