February 8, 2019 / 12:21 AM / 5 months ago

IFR Americas ECM Pipeline

NEW YORK, Feb 7 (IFR) - PRICED Gossamer Bio (US, biotech) – $276m IPO. 17.3m shares (100% prim) at $16.00 versus $16.00 fixed-price marketing. BAML, SVBL, BARC, EVER. Existing holders indicated for up to$100m. Upsized 20% from 14.4m shares.

Harpoon Therapeutics (US, biotech) – $75m IPO. 5.4m shares (100% prim) at $14 versus marketing at $13-$15. CITI, SVBL. Existing shareholders have indicated for up to $40m.

Presidio (US, IT svcs) – $61m Block. 4m shares (100% sec) at $15.25 versus $15.25-$15.50 marketing and $15.85 last sale. JPM.

RMG Acquisition (US, SPAC) – $200m IPO. 20m units (100% prim) to be marketed at $10.00, with each unit consisting of one share and one-third warrant exercisable at $11.50. DB, STFL.

Tabula Rasa Healthcare (US, healthcare IT) – $285m 7y cvt at 1.75%, up 32.5% versus talk of 1.75%-2.25% and 27.5%-32.5%. CITI, BAML. Upsized from $250m.

CALENDAR

February 7 (PM): Pinduoduo (China, e-commerce) – $1.55bn FO. 51.8m ADS (71% prim, 29% sec) versus $29.93 at launch. GS, MS, BAML, CICC, CREN.

February 12: Virgin Trains USA (US, passenger rail) – $538.4 IPO. 28.3m shares (100% prim) at $17-$19. BARC, JPM, MS. Virgin to invest in private placement for up to 2% of company, Fortress to buy undisclosed number of shares in IPO.

February 13: TCR2 Therapeutics (US, biotech) – $80m IPO. 5m shares (100% prim) at $14-$16. JEFF, LEER, BMO. Nasdaq “TCRR”. Existing shareholders have indicated for up to $30m.

February 13: Avedro (US, medical devices) – $80m IPO. 5m shares (100% prim) at $14-$16. BAML, JPM. Nasdaq “AVDR”.

February 13: Cibus (Bermuda, ag biotech) – $106.7m IPO. 6.67m shares (100% prim) at $14-$16. MS, BAML, PJ.

February 14: Stealth BioTherapeutics (Cayman Islands, biotech) – $86.8m IPO. 6.2m shares (100% prim) at $12-$14. Nasdaq “MITO”. JEFF, EVER, BMO, NOM. Morningstar Venture Investments and associates have indicated interest in buying $60m of shares.

February 14: Watford Holdings (Bermuda, reinsurance) – Direct listing. JPM, BARC, MS. Nasdaq “WTRE”.

NEW FILINGS

2019: Postmates (US, delivery app) – Reportedly mandated to JPM, BAML. (The daily IFR US ECM Briefing covers US, Canadian and LatAM IPOs, as well as secondary and convertible offerings.Reporting By Robert Sherwood)

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