November 15, 2019 / 8:51 PM / in 21 days

IFR US ECM Weekly Wrap-up

NEW YORK, Nov 15 (IFR) -

WEEKLY TOTAL $10.56bn – IPO $85m – ABB/BLOCK $6.05bn – FOLLOW-ON $2.03bn – CB $2.40bn Monday

89bio (US, biotech) – $85m IPO. 5.3mm shares (100% prim) at $16.00 versus $15-$17 marketing. BOFA, SVBL, RBC. Upsized from 4.4m shares. Existing holders indicated for $40m. Tuesday

Ceridian HCM (US, HR software) – $534m Block. 10m shares (100% sec) at $53.40 versus $53.40-$53.60 marketing and $55.12 last sale. JPM.

Cushman & Wakefield (US, real estate) – $183.5m Block. 10m shares (100% sec) at $18.35 versus $18.35-$18.45 marketing and $18.93 last sale. MS. Priced in pre-open.

J2 Global (US, software) – $500m 7y CB priced at 1.75%, up 32.5% versus talk of 1.5%-2% and 30%-35%. BARC, JPM, RBC, CITI, PJ.

Magazine Luiza (Brazil, retail/ecommerce) – R$4.7bn ($1.14bn) FO. 110m shares (91% prim, 9% sec) at R$43.00 versus R$43.40 last sale and R$44.02 at launch. ITAU, BTG, BOFA, JPM, BBINV, BRAD, MS, SANT.

RingCentral (US, mobile services) – $295.8m Block. 1.75m shares (100% sec) at $169.00-$171.00 versus $172.71 last sale. GS, BOFA. Avaya is the seller. Wednesday

Alliant Energy (US, utility) – $195.6m Block. Fixed size (100% prim) at $52.63 fixed versus $52.63 last sale. BARC. Forward sale. Priced pre-open.

BioCryst Pharmaceuticals (US, biotech) – $55m FO. 37.9m shares (100% prim) at $1.45 versus $1.60 last sale and $1.79 launch. JPM.

CyberArk Software (Israel, software) – $500m 5y cvt priced at 0%, up 37.5% versus talk of 0% fixed and 32.5%-37.5%. MS, GS.

Halozyme Therapeutics (US, biotech) – $400m 5y cvt priced at 1.25%, up 35% versus talk of 1%-1.5% and 35%-40%. BOFA, EVER. Included commitment to purchase up to $200m of stock.

Kadmon Holdings (US, biotech) – $88.4m ABB. 26m shares (100% prim) at $3.40 versus $3.56 last sale. JEFF, CANT. Upsized from $75m.

Reata Pharmaceuticals (US, biotech) – $439.2m FO. 2.4m shares (100% prim) at $183.00 versus $187.48 last sale and $182.83 launch. CITI, JEFF, SVBL, STFL. Upsized from 2m shares.

Replimune Group (US, biotech) – $80m FO. 5.8m shares (100% prim) at $13.61 versus $13.61 last sale and $16.70 launch. JPM, SVBL, BMO. Restructured as 3.68m shares and 2.2m prefunded warrants from 5m shares at launch.

Sea (Singapore, ecommerce/digital entertainment) – $1bn 5y cvt priced at 1% up 42.5% versus talked of 0.75%-1.25% and 40%-45%. GS.

Verra Mobility (US, fleet software) – $213.5m Block. 15m shares (100% sec) at $14.25 versus $14.25-$14.50 marketing and $14.70 last sale. MS. Thursday

NextCure (US, biotech) – $150.7m FO. 4.1m shares (100% prim) at $36.75 versus $38.55 last sale and $37.41 at launch. MS, BOFA, PJ. Upsized from 3.2m shares.

Purple Innovation (US, mattresses) – $70m FO. 10m shares (100% sec) at $7.00 versus $7.51 last sale and$8.84 at launch. BOFA, OPP. Upsized from 8m shares.

ShockWave Medical (US, surgical device) – $90m FO. 2.5m shares (100% prim) versus $36.44 last sale and $36.75 at launch. MS, BOFA. Upsized from US$75m.

Reporting by Robert Sherwood

Nuestros Estándares:Los principios Thomson Reuters
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