February 11, 2019 / 2:19 PM / 12 days ago

IFR Americas ECM Pipeline

NEW YORK, Feb 11 (IFR) -

CALENDAR

February 12: Virgin Trains USA (US, passenger rail) – $538.4 IPO. 28.3m shares (100% prim) at $17-$19. BARC, JPM, MS. Virgin to invest in private placement for up to 2% of company, Fortress to buy undisclosed number of shares in IPO.

February 13: TCR2 Therapeutics (US, biotech) – $80m IPO. 5m shares (100% prim) at $14-$16. JEFF, LEER, BMO. Nasdaq “TCRR”. Existing shareholders have indicated for up to $30m.

February 13: Avedro (US, medical devices) – $80m IPO. 5m shares (100% prim) at $14-$16. BAML, JPM. Nasdaq “AVDR”.

February 13: Cibus (US, ag biotech) – $106.7m IPO. 6.67m shares (100% prim) at $14-$16. MS, BAML, PJ.

February 14: Stealth BioTherapeutics (Cayman Islands, biotech) – $86.8m IPO. 6.2m shares (100% prim) at $12-$14. Nasdaq “MITO”. JEFF, EVER, BMO, NOM. Morningstar Venture Investments and associates have indicated interest in buying $60m of shares.

February 14: Watford Holdings (Bermuda, reinsurance) – Direct listing. JPM, BARC, MS. Nasdaq “WTRE”.

NEW FILINGS

Avantor (US, lab services)– $1bn-plus (filed as $100m) IPO. Terms TBD (100% prim). GS, JPM.

ShockWave Medical (US, medical devices) – $70m IPO. Terms TBD (100% prim). MS, BAML. Nasdaq “SWAV”. (The daily IFR US ECM Briefing covers US, Canadian and LatAM IPOs, as well as secondary and convertible offerings.Reporting By Robert Sherwood)

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