So the new normal is a two-week IPO calendar.
In past years, the IPO calendar was a three-week affair: This week, next week and the week after. But that no longer exists.
The JOBS Act of 2012 forever changed the way companies go public. The short explanation: A company files a confidential filing and then the behind-the-scenes work starts that leads up to the official filing known as an S/1. Shortly after that comes an amendment – the S-1/A – with pricing terms and the deal goes on the calendar with a trading date.
China Shopping, Texas Drilling
Let’s take a look at this week’s IPO traffic and see how it came together.
Topping this week’s calendar are two deals that are reportedly on everybody’s “most wanted” list: JD.com and Parsley Energy.
JD.com (JD – proposed) filed for an IPO on April 9, 2014, (the S-1 filing). Late Friday afternoon of May 9, 2014, it filed its pricing terms (the S-1/A amendment) to offer 93.7 million shares at $16 to $18 each to raise $1.6 billion. It was announced that the deal would be priced Wednesday evening, May 21, and trade Thursday, May 22.
Based in Beijing, JD.com is the largest online direct sales company in China in terms of transaction volume in 2013, with a market share in China of 46.5 percent, according to iResearch. The company is a rival of Alibaba. JD.com has a strategic partnership with Tencent Holdings Limited, one of China’s largest Internet companies.
(For more information, please click here: JD.com)
Parsley Energy filed for an IPO on April 11. On Friday afternoon of May 2, the company filed its pricing terms to offer 43.9 million shares at $15 to $18 each to raise $724.4 million. It was announced that the deal would be priced Thursday evening, May 22, and trade Friday, May 23. (Note: An exception to today’s 10-day fast-track IPO calendar.)
Parsley Energy, based in Midland, Texas, is an independent oil and natural gas company focused on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. (For more information, please click here: Parsley Energy)
Health, Wealth, Chips and Energy
Rounding out the rest of this week’s calendar:
21st Century Oncology Holdings (ICC – proposed) filed for an IPO on Feb. 11. On May 8, it filed its pricing terms to offer 13.3 million shares at $14 to $16 each to raise $200 million. It was announced that the deal would be priced Tuesday evening, May 20, and trade Wednesday, May 21.
21st Century Oncology Holdings, based in Fort Myers, Florida, operates the largest integrated network of cancer treatment centers and affiliated physicians in the world. The company has about 674 community-based physicians in the fields of radiation oncology, medical oncology, breast, gynecological and general surgery, urology and primary care, providing medical services at approximately 298 locations. (For more information, please click here: 21st Century Oncology Holdings.)
Agile Therapeutics (AGRX – proposed) filed for an IPO on March 3. On Friday, May 9, it filed its pricing terms to offer 4.6 million shares at $12 to $14 each to raise $60 million. It was announced that the deal would be priced Wednesday evening, May 21, and trade Thursday, May 22.
Agile Therapeutics, based in Princeton, New Jersey, is a women’s health specialty pharmaceutical company focusing on the development and commercialization of new prescription contraceptive products. (For more information, please click here: Agile Therapeutics)
First Foundation (FFWM – proposed) filed for an IPO on April 18. On Friday, May 9, it filed its pricing terms to offer 2.2 million shares at $21 to $24 each to raise $50 million. It was announced that the deal would be priced Wednesday evening, May 21, and trade Thursday, May 22.
First Foundation, based in Irvine, California, is a financial services company that provides personalized financial services to high net-worth individuals and their families, family businesses and other affiliated organizations.(For more information, please click here: First Foundation)
Heritage Insurance Holdings (HRTG– proposed) filed for an IPO on April 21. On Tuesday, May 13, it filed its pricing terms to offer 6 million shares at $14 to $16 each to raise $90 million. It was announced that the deal would be priced Thursday evening, May 22, and trade Friday, May 23.
Heritage Insurance Holdings, based in Clearwater, Florida, is a property and casualty insurance company providing personal residential insurance for single-family homeowners and condominium owners in Florida. (For more information, please click here: Heritage Insurance Holdings)
SunEdison Semiconductor (SEMI– proposed) filed for an IPO on Sept. 9, 2013. On Monday, May 12, it filed its pricing terms to offer 7.2 million shares at $13 to $15 each to raise $100.8 million. It was announced that the deal would be priced Wednesday evening, May 21, and trade Thursday, May 22.
Based in Singapore, SunEdison Semiconductor is a provider of silicon wafers to the semiconductor industry. (For more information, please click here: SunEdison Semiconductor)
Superior Drilling Products (SDPI- proposed), based in Vernal, Utah, is a provider of new diamond drill bits and drill string components for the oil, natural gas and mining drilling industries. The IPO is a carryover from past weeks and its pricing date is listed as “the week of.” (For more information, please click here: Superior Drilling Products)
Looking into the following week, the calendar has nothing. But as we have seen in the past, names could pop onto the IPO launching pad by the day after Memorial Day, which will be observed on Monday, May 26.
Stay tuned.
Disclosure: Neither the author nor anyone else on the IPOScoop.com staff has a position in any stocks mentioned, nor do we trade or invest in IPOs. The author and IPOScoop.com staff do not issue advice, recommendations or opinions.