The summer IPO market is wrapping up. While we could see a few more launches, this coming week’s deals should be some of the last IPOs before the August break.
An Israeli medical device maker is among the most notable IPOs. Another is a micro-cap biotech.
Israel-based InMode (INMD) plans to raise $75 million at a market cap of $611 million. While sales have moderated in recent quarters, the company is still experiencing fast growth (+46% in the MRQ) with positive cash flow (29% margin). Strong trading from recent medical device IPOs (e.g. SWAV, SILK) could also be a tailwind.
In addition, early-stage cirrhosis biotech BioVie (BIVI) plans to uplist from the OTC to the Nasdaq in a $15 million offering.
| U.S. IPO CALENDAR | |||
|---|---|---|---|
| ISSUER BUSINESS | DEAL SIZE MARKET CAP | PRICE RANGE SHARES FILED | TOP BOOKRUNNERS |
| BioVie (BIVI) Los Angeles, CA | $15M $64M | $11.88 1,262,626 | ThinkEquity |
| Early stage biotech developing therapies for cirrhosis. | |||
| InMode (INMD) Yokneam, Israel | $75M $611M | $14 – $16 5,000,000 | Barclays UBS |
| Israeli maker of minimally-invasive medical aesthetic systems. | |||
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.