There are plenty of names on the IPO schedule this week, but there could be even more. As we near Thanksgiving there tends to be names that come out of the woodworks to launch before the holiday so expect to see extra, last minute additions.
The largest IPO of the week is out of Argentina. Loma Negra (LOMA ) is a leading producer of cement which claims to have 45% market share. They are looking for $751 million by offering 44.2 million shares at a range of $15 - 19. They hope to keep up with demand, and get their hands on some of the $155 billion government spending that is due over the next 10 years.
Evoqua Water Technologies (AQUA ) is up next with a $500 million offering. The Pittsburgh based company provides water treatment systems for drinking, industrial use, and recycled wastewater. Their offering 27.7 million shares at a range of $17 - 19. Debt is a concern here as the company currently has debt approaching $700 million.
Sentinel Energy Services (STNLU ) is a blank check company that is hoping to raise $300 million to work their magic in the energy space. Offering 30 million shares at $10 the company, led by former big wigs at Schlumberger (SLB ) will be looking for profitable ways to use this money specifically in the energy sector.
Altair Engineering (ALTR ) is a "high-end enterprise-class engineering" software company looking for $144 million. The Michigan based company will offer 12 million shares at a range of $11 - 13. The company has a strategy of gaining increased revenue from existing customers rather than spend to acquire more which has led them to a net profit at this point.
Allena Pharmaceuticals (NASDAQ" ALNA) is a smaller offering this week out of Massachusetts. The company develops enzymes for rare and severe metabolic and kidney disorders and will be looking for $80 million to continue these efforts in phase 3 trials. They will offer 5.3 million shares at a range of $14 - 16.
Funko (FNKO ) is a company that designs and sells pop culture products that it licenses from large media companies. The company has shown strong growth and hopes to continue this by raising $200 million. They will offer 13.3 million shares at a range of $14 - 16.
Spero Therapeutics (SPRO ) will be looking for $75 million this week by offering 5 million shares at a range of $14 - 16. The company develops treatments for drug resistant bacterial infections, but has struggled to show any real profit.
Aquantia (AQ ) is an ethernet provider out of California. They have sales of $94 million and are looking to improve on this by raising $75 million. They will offer 6.8 million shares at a range of $10 - 12.
Finally we have ACM Research (ACMR ) which sells cleaning equipment to semiconductor companies. They will be looking for $17 million by offering 2 million shares at a range of $7.50 - 9.50.