February 7, 2020 / 10:59 PM / 2 months ago

IFR US ECM Weekly Wrap-up

NEW YORK, Feb 7 (IFR) -

WEEKLY TOTAL $11.2bn – IPO $3.1bn – ABB/BLOCK $1.2bn – FOLLOW-ON $6.1bn – CB $825m Monday

Catalent (US, drug manufacturing) – $500m Block. 8.45m shares (100% prim) at $59.20 versus $59.20-$59.80 marketing a $61.65 last sale. JPM, UBS. Underwriters paid $58.58 a share.

Dream Industrial REIT (Canada, REIT) – C$200m Block. 14.66m units (100% prim) at C$13.65 versus C$14.12 last sale. TD.

InterPrivate Acquisition (US, SPAC) – $210m IPO. 21m units to be marketed at $10.00 apiece, structured as one share and half of a warrant. EBC. Upsized from 17.5m units.

Invesco Mortgage Capital (US, mortgage REIT) – $305.1m FO. 18m shares (100% prim) at $16.95 versus $16.95-$17.05 marketing and $17.48 last sale. CS, BARC, BOFA, JPM, MS, WF.

Mitre Realty (Brazil, real estate) – R$1.18bn ($277m) IPO. 61.4m shares (86% prim, 14% sec) at R$19.30 versus R$14.30-$19.30 marketing. ITAU, BTG, BRAD. Tuesday

Integra LifeSciences (US, surgical equipment) – $500m 5.5y cvt at 0.5%, up 30% versus talk of 0.375%-0.875% and 27.5%-32.5%. BOFA, MS, STRH, CITI, GS.

Locaweb Servicos de Internet (Brazil, web services) – R$1.18bn ($277m) IPO. 67.8m shares (52% prim, 48% sec) at R$17.25 versus R$14.25-$17.25 marketing. ITAU, GS, MS, XP. Upsized from 59.9m shares on partial exercise of 20% hot-shoe option.

Ziopharm Oncology (US, biotech) – $90.4m ABB. 27.8m shares (100% prim) at $3.25 versus $4.07 last sale. JEFF, COWN. Upsized from $75m. Wednesday

Beam Therapeutics (US, biotech) – $180m IPO. 10.6m shares (100% -prim) at $17.00 versus $15-$17 marketing. JPM, JEFF, BARC. Double-upsized from 6.25m and 9.25m shares.

Casper Sleep (US, online retail) – $100.2m IPO. 8.35m shares (100% prim) at $12.00 versus $12-$13. MS, GS, JEFF. Revised from $17-$19 on 2/5.

Clarivate Analytics (US, IP and scientific data analytics) – $486m FO. 24m shares (100% prim) at $20.25 versus $20.54 last sale and $20.56 at launch. CITI, GS, RBC, BOFA, BARC. Upsized from 20m shares.

Par Technology (US, point of sales systems) – $105m 5.5y CB at 2.875, up 32.5% versus talk of 2.625%-3.125%, up 30%-35%. JEFF. Upsized from $90m.

Petrobras (Brazil, oil & gas) – R$22bn/$5.2bn FO. 734.2m equivalent common shares at R$30.00/$14.165 (per ADS) versus R$29.59/$14.43 last sale and R$31.99/$15.99 at file. CS, BOFA, BRAD, BDB, CITI, GS, MS, XP. 20% hot-shoe option on 122.4m shares (100% sec) exercised.

PPD (US, CRO) – $1.62bn IPO. 60m shares (100% prim) at $27.00 versus $24-$27 marketing. BARC, JPM, MS, GS.

Schrödinger (US, medical software) – $202m IPO. 11.9m (100% prim) at $17.00 versus $14-$16 marketing. MS, BOFA, JEFF, BMO. Upsized from 10m shares.

TriState Capital (US, banking) – $60.4m Block. 2.68m shares (100% sec) at $22.55 versus $22.50-$23.00 marketing and $23.60 last sale. BARC. Thursday

ADMA Biologics (US, biotech) - $82.3m ABB. 23.5m shares (100% prim) at $3.50 versus $3.50-$3.75 marketing and $4.00 last sale. MS, JEFF. Upsized from $75m.

Afya (Brazil medical education) – $341.7m FO. 12.43m shares (24% prim, 76% sec) at $27.50 versus $28.01 last sale and$30.14 at launch. BOFA, UBS, GS, ITAU, BTG, CS, JPM, MS. Upsized from 11.52m shares.

NexPoint Real Estate Finance (US, commercial mortgage REIT) – $95m IPO. 5m shares (100% prim) at $19.00 versus $19-$21 marketing. RJ, KBW, RWB.

OneWater Marine (US, boat retailer) – $55.4m IPO. 4.62m shares (100% prim) at $12.00 versus $12-$14 marketing. RJ, BAIRD, SUNT.

Professional Holding (US, bank) – $57.4m IPO. 3.1m shares (100% prim) at $18.50 versus $19-$21 marketing. STPH, KBW.

Rapt Therapeutics (US, biotech) – $75m FO. 2.5m shares (100% prim) at $30.00 versus $32.00 last sale and $42.36 launch. BMO, WF, UBS, CANT. Upsized from 2m shares.

Smart Global Holdings (US, semiconductors) - $220m 6y cvt priced at fixed 2.25%, up 27.5%, in-line with fixed price talk. MS, BARC, DB. Upsized from $200m.

Reporting by Robert Sherwood

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