The IPO Buzz: Sweet September Song

Thirteen companies announced plans to go public and two others posted expected pricing terms during August’s second half. These 15 companies expect to raise over $2 billion. September’s song could be sweet for the IPO calendar.

 

Regado Biosciences (RGDO) is a Basking Ridge, New Jersey-based biopharmaceutical company focusing on the discovery and development of antithrombotic drug systems for acute and sub-acute cardiovascular indications. Regado Biosciences got its IPO out the door at $4 per share. That was well below its original price range of $14 to $16. The lower pricing worked. The IPO started trading at $5 per share on Thursday morning, Aug. 22. That was UP 25 percent from its initial offering price.

 

In the meantime, the U.S. Securities and Exchange Commission’s filing window was open for business. And, as we are learning from the JOBS Act of 2012, once a company files its S-1 plans to go public, it can jump on the IPO calendar in a matter of a few weeks or less.

 

Let’s take a look at a few that were filed over the last couple of weeks.

 

AMC Entertainment Holdings (AMC – proposed) is a Leawood, Kansas-based chain of movie theaters. The company operates about 350 theatres with about 5,000 screens primarily in North America. Formed in 1920, AMC has about 11,000 employees. On Aug. 30, the company filed for an IPO to raise $400 million. (Note: This is AMC’s third attempt to go public.)

 

Potbelly (PBPB – proposed) is a Chicago-based restaurant franchisor offering a neighborhood sandwich concept of toasty warm sandwiches, signature salads and other fresh menu items. The company operates 286 shops in 18 states and the District of Columbia, and another 12 franchised shops in the Middle East. Formed in 1977, Potbelly has about 5,000 employees. On Aug. 29, the company filed for an IPO to raise $75 million.

 

RE/MAX Holdings (RMAX – proposed) is a Denver-based franchisor of real estate brokerage services. The company has more than 90,000 agents and over 6,300 offices in more than 90 countries. Formed in 1973, RE/MAX has about 439 employees. On Aug. 19, the company filed for an IPO to raise $100 million.

 

RingCentral (RNG – proposed) is a San Mateo, California-based provider of software-as-a-service, or SaaS, solutions for business communications. The company believes its cloud-based approach disrupts the large market for business communications solutions by providing flexible and cost-effective services that support distributed workforces, mobile employees and the proliferation of “bring-your-own” communications devices. Formed in 1999, RingCentral has about 400 employees. On Aug. 26, the company filed for an IPO to raise $100 million.

 

Rocket Fuel (FUEL – proposed) is a Redwood City, California-based technology company that has developed an Artificial Intelligence and Big Data-driven predictive modeling and automated decision-making platform. Formed in 2008, Rocket Fuel has about 465 employees. On Aug. 16, the company filed for an IPO to raise $100 million.

 

As we have seen many times in today’s IPO market, the calendar can fill up quickly. With 13 companies filing to go public over the last two weeks, the coming weeks could be busy.

 

Stay tuned.