For the week there is officially only one IPO on the schedule but almost no one will pay attention to it thanks to some of the big, up and comers that are on their way. Spotify (NYSE: SPOT) stole the IPO investors attention last week as they announced an offering of sorts. The company filed for a $1 billion offering that would not be in a traditional format The current shareholders filed to be able to sell their shares on the open market and are looking to do this in the coming weeks. Analysts place the valuation of the company around $17 to $25 billion which is shocking considering the company's history of considerable losses. To pitch this offering to the public they will focus on sales which have been rapidly increasing.
Many other names did file last week but none were able to garner the type of attention that Spotify did. Going forward, Dropbox (NYSE: DBX) will likely be the main focus as that listing is eligible to launch as early as next week. For this week it may be quiet but as you can see, there will be some interesting names to focus on throughout the month of March.
BioXcel Therapeutics (NADSAQ: BTAI) is a biotech company that is using artificial intelligence to identify the next great wave of drugs needed in the cancer space. The company does not currently make drugs, rather identifies uses for existing drugs on the market. They claim that this should dramatically reduce the cost and time of drug production. They have currently identified an opportunity and need to raise $60 million to test and push to market. They will offer 5 million shares at a range of $11 - $13.
There are also four, pending offerings that could launch this week should conditions show more favorably. Many think the names that have been postponing are running out of time to get ahead of the media storm of Dropbox and Spotify.