The IPO markets continue their slumber. Normally the media would pounce on this lack of excitement but with the market volatility the IPO market gets a pass. In fact, if any deals were to go public the firms handling the release would likely be met with ridicule by its peers, and the new issue would be met with intense scrutiny.
Scheduled for the first week of February, Editas Medicine (EDIT ) announced terms for its IPO today. According to their filing, Editas is developing gene editing therapies based on CRISPR technology. The Cambridge, MA-based company plans to raise $100 million by offering 5.9 million shares at a price range of $16 to $18. At $17, Editas Medicine would would go to market with a value of $625 million. The company is young and has little sales. It was founded in 2013 and has only $1 million in sales for the 12 months ended September 30, 2015.
OneMain Financial Holdings (OMF ), a subprime consumer lending arm of Citigroup with over 1,100 branches, withdrew its plans for an initial public offering on Friday. It originally filed in October 2014 with a jaw dropping deal size of $1.0 billion. So what happens now? Well, Springleaf Partners acquired OneMain Financial and took the company's name and now trades on the NYSE under the symbol OMF. The Baltimore, MD-based company was founded in 1912 and booked $2.3 billion in sales for the 12 months ended September 30, 2014.