January 10, 2020 / 8:43 PM / 12 days ago

IFR US ECM Weekly Wrap-up

NEW YORK, Jan 10 (IFR) -

WEEKLY TOTAL $5.97bn – IPO $0.0 – ABB/BLOCK $2.16bn – FOLLOW-ON $1.84bn – CB $1.98bn

Monday

Alexandria Real Estate Equities (US, REIT) – $930m ABB. 6m shares (100% prim via forward sale) at $155.00 versus $154.25-$159.25 marketing and $161.03 last sale. GS, BOFA, CITI, JPM.

RenaissanceRe (Bermuda, reinsurance) – $325.2m Block. 1.7m shares (100% sec) at $187.00 versus $187-$189 marketing and $192.01 last sale. MS. Tokio Marine & Nichido Fire Insurance is selling shareholder. Tuesday

Intra-Cellular Therapies (US, biotech) – $306.2m FO. 10m shares (100% prim) at $29.50 versus $31.00 last sale and $30.62 launch. JPM, SVBL, EVER.

New York Mortgage Trust (US, mortgage REIT) – $182.7m Block. 30m shares (100% prim) at $6.09 fixed versus $6.24 last sale. MS, JPM, UBS.

PNM Resources (US, regulated utility) – $260.7m Block. 5.37m shares (100% prim via forward sale) at $48.50 versus $48.20-$48.95 marketing and $49.20 last sale. CITI, BOFA, WF, EVER. Upsized from 4.9m shares.

SeaSpine (US, medtech) – $85m ABB. 6.8m shares (100% prim) at $12.50 versus $12.00-$12.50 marketing and $13.04 last sale. PS, CANA. Upsized from $75m. Wednesday

Apellis Pharmaceuticals (US, biotech) – $351.5m. 9.5m shares (100% prim) at $37.00 versus $39.14 last sale and $38.73 at launch. CITI, JPM, EVER. Upsized from 7m shares.

JP Morgan/Alibaba (China, e-commerce) – $575m 3y exch at 0.125%, up 20%. JPM. Upsized from $500m.

Mirum Pharmaceuticals (US, biotech) – $48m FO. 2.4m shares (100% prim) at $20.00 versus $20.99 last sale and $23.03 launch. CITI, EVER, GUGG.

TriplePoint Venture Growth BDC (US, BDC) – $70.4m ABB. 5m shares (100% prim) at $14.08 versus $14.37 last sale. WF, MS, GS, JPM, KBW. Net proceeds of $13.65 a share. Thursday

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. (Reporting by Robert Sherwood)

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