This week, another eight companies will come to the public markets in search of almost $3 billion in funding. The largest offering is a 120 year old, EAF steel products manufacturer that specializes in graphite electrodes used in the production of EAF steel. GrafTech International (EAF ) is hoping to raise $850 million by offering 37.7 million shares at a range of $21 - $24.
Looking for $610 million is a Dallas based satellite TV service that provides a subscription model all across Latin America. Vrio (VRIO ) has operations in eight countries with over 13.5 million total subscribers. The former AT&T company that was spun off is on the books to offer 30 million shares at a range of $19 - $22
One of the names that will likely get the most media attention this week is Pivotal Software (PVTL ) which is also a spin off. The company provides a software development, cloud based platform to over 300 enterprise customers. They are hoping to raise $555 million and will do this by offering 37 million shares at a range of $14 - $16.
In the biotech space there are a few names on this list this week. The only US based offering is Surface Oncology (SURF ) which is developing therapies for cancer patients that will focus on boosting their immune systems. They are looking for $84 million and will offer 6 million shares at a range of $13 - $15. The other two names are international. The largest is MorphoSys (MOR ) which is developing a drug for lymphoma. They will offer 8 million shares at $24.12 in hopes of raising $200 million. The smallest offering in this space is Mereo BioPharma (MREO ) which is a drug company that acquires other drugs and looks to further develop them. Their focus is in the rare disease category. Expect to see 4 million shares offered at $17.62.
The last two names of the week are in the banking space. First Caribbean Bank (FCI ) has branches on the Bahamas, Cayman Islands, and Barbados and is looking for $226 million. 9.6 million shares are expected to price in a range of $22 - $25. The other bank is out of Michigan. Level One Bancorp (LEVL ) is a small, commercial bank looking to raise $28 million. Only 1 million shares will be offered at a range of $27 - $29.
