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 (NASDAQ: 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 (NASDAQ: 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 (NASDAQ: 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 (NASDAQ: 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 (NASDAQ: 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 (NASDAQ: 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 (NASDAQ: 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 (NASDAQ: KZR), which makes medications for autoimmune diseases, will be looking for $70 million. They will offer 4.6 million shares at $14 - $16.
Avrobio (NASDAQ: AVRO) applies stem cell research to curing rare diseases. They are offering 4.4 million shares at $16 - $18 to continue their work.
Aptinyx (NASDAQ: 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 (NASDAQ: EIDX), which needs $100 million towards developing a treatment for neurodegenerative disease. They will offer 6.25 million shares at $15 - $17.