ServiceTitan (TTAN Proposed) is the name to know on Wall Street this week. ServiceTitan’s IPO is the largest deal on the IPO Calendar for the week of Dec. 9, 2024. Some think it may be the last big IPO of the year before Wall Street snaps the book shut on sizable deals for the year.
ServiceTitan, based in Glendale, California, is a cloud platform for “the trades” – plumbers, electricians, HVAC technicians and contractors, landscapers, and more. The company, founded in 2007, provides a cloud platform that handles everything from advertising and job scheduling to generating estimates and invoices, payment processing and more. It’s the brainchild of Ara Mahdessian and Vahe Kuzoyan, who are the sons of trades business owners, according to the prospectus.
ServiceTitan (TTAN Proposed) is offering 8.8 million shares at a price range of $52.00 to $57.00 to raise $479.6 million – assuming mid-point pricing at $54.50. That works out to a market cap of about $4.93 billion. (Please see the IPO Calendar for the pricing date.)
Goldman Sachs, Morgan Stanley, Wells Fargo Securities and Citigroup are the joint book-runners. (The investment banking team counts 10 more names.)
A Heart Valve Maker’s Deal and A Healthcare SPAC IPO
Other than that, the IPO Calendar for the week of Dec. 9, 2024, has two other large deals – Anteris Technologies Global (AVR Proposed), a $100.3 million offering that bills itself as the “U.S. initial public offering” of an Australian company developing its DurAVR transcatheter heart valve, and Jackson Acquisition II (JACS.U Proposed), a $200.0 million healthcare SPAC IPO.
Anteris Technologies Global, a NASDAQ listing, is led by joint book-runners TD Cowen, Barclays and Cantor with Lake Street Capital Markets as a lead manager. (Please see the IPO Calendar for the pricing date.)
Jackson Acquisition II – with sole book-runner Roth Capital Partners – is the big SPAC IPO set for pricing tonight – Monday, Dec. 9, 2024 – to trade Tuesday, Dec. 10, 2024 – on the New York Stock Exchange.
Four tiny IPOs – two with firm pricing dates and two designated as possibly pricing during “the week of Dec. 9, 2024” – round out this week’s IPO Calendar.
Stay tuned.
(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on the IPOScoop.com website.)
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.
To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.
Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.