The June IPO market continues to swell with offerings. The number of offerings, recent successful tech IPOs, and a strong market are a recipe for a hot IPO market. There are 11 names up for grabs this week. I hope you like healthcare IPOs, since most are in that space.
The largest offering of the week is a REIT, looking for $504 million. Essential Properties (EPRT ) specializes in single-tenant properties in the commercial space and will offer 32.5 million shares at a range of $14 - $17.
Smaller IPOs include I3 Verticals (IIIV ), a payment processing company for small businesses, which is seeking to raise $80 million for 6.6 million shares priced at $11 - $13 for now, and LF Capital Acquisition (LFACU ) which was formed to acquire companies in the banking or fintech industry. They are offering 13.5 million shares at $10 to get this done.
Now for the healthcare space. The largest of the healthcare offerings this week is London-based Autolus Therapeutics (AUTL ). The company, which develops cancer medications, is seeking $125 million. Look for 7.8 million shares to start at a range of $15 - $17.
Tired of migraines? electroCore (ECOR ) hopes to solve that with their handheld nerve stimulator. To bring this product to market, the company is looking for $65 million by offering 4.3 million shares at $14 - $16.
Xeris Pharmaceuticals (XERS ) is working on an injectable treatment for hypoglycemics. The company will need $75 million, so they will offer 5 million shares at a range of $14 - $16.
Magenta Therapeutics (MGTA ) would like to raise $100 million to make stem cell transplants more efficient and successful. They will offer 6.6 million shares at a range of $14 - $16. Novartis has already licensed their primary candidate, which shows that the big pharma companies are interested.
Kezar Life Sciences (KZR ), which makes medications for autoimmune diseases, will be looking for $70 million. They will offer 4.6 million shares at $14 - $16.
Avrobio (AVRO ) applies stem cell research to curing rare diseases. They are offering 4.4 million shares at $16 - $18 to continue their work.
Aptinyx (APTX ) is focused on oral medications for rare diseases of the brain. The company is looking for $80 million in exchange for 5.33 million shares at $14 - $16.
The last healthcare offering of the week is Eidos Therapeutics (EIDX ), which needs $100 million towards developing a treatment for neurodegenerative disease. They will offer 6.25 million shares at $15 - $17.
