February 13, 2019 / 2:31 PM / 4 days ago

IFR Americas ECM Pipeline

NEW YORK, Feb 13 (IFR) -

PRICED

Genpact (US, BPO) – $324m Block. 10m shares (100% sec) at $32.40 versus $32.40-$32.62 marketing and $32.62 last sale. GS.

MacroGenics (US, biotech)– $110m ABB. 5.5m shares (100% prim) at $20.00 versus marketing at $19.75-$20.25 and $20.99 last sale. SVBL, EVER, CS, STIF. Upsized from $75m.

POSTPONED

Virgin Trains USA (US, passenger rail) – $538.4 IPO. 28.3m shares (100% prim) at $17-$19. BARC, JPM, MS.

CALENDAR

February 13: 8x8 (US, telecom equipment) - $200m 5y CB talked at 0.5%-1%, up 27.5%-32.5%. MS.

February 13: TCR2 Therapeutics (US, biotech) – $80m IPO. 5m shares (100% prim) at $14-$16. JEFF, LEER, BMO. 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.

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

February 13: Xeris Pharmaceuticals (US, biotech) – $73.5m FO. 5m shares (100% prim) versus $14.70 at launch. JEFF, RBC, MIZU.

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”.

February 21: Acamar Partners (US, SPAC) – $300m IPO. 30m units (100% prim) marketed at $10.00. Each unit comprised of one share and one-third of a warrant exercisable at $11.50. GS, DB.

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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