initial public offerings (IPOs) trading on American exchanges

Wednesday, August 28, 2013

WCI Communities (WCIC) began trading on the NYSE on 25 July 2013

LGI Homes (LGIH) files for a $125 million IPO

LGI Homes Inc. filed plans for an initial public offering of up to $125 million as the company looks to be the latest homebuilder to capitalize on the housing recovery.

LGI said it expects to use $36.9 million of the proceeds to acquire all of the joint venture interests of GTIS Partners LP that it doesn't own. The rest of the proceeds would go toward working capital and general corporate purposes, the company said in a filing with the U.S. Securities and Exchange Commission.

LGI specializes in so-called "entry level" homes, with core markets in Texas, Florida, Arizona and Georgia.

For the six months ended June 30, the company reported that its net income had more than doubled to $7.6 million, with revenue more than doubling to $58 million.

Five homebuilders have held IPOs this year through July. The latest homebuilder to hold one was Florida's WCI Communities Inc. (WCIC), which debuted in late July.

LGI said it intends to apply for listing on the Nasdaq Global Select Market under the symbol LGIH.

Thursday, August 22, 2013

Sprouts Farmers Market (SFM) reports Q2 2013 results

  • The IPO was just 3 weeks ago 
** chart before earnings **

After Hours: 40.05 +1.46 (3.78%)

Sprouts Farmers Market (SFM) reports Q2 adjusted EPS of $0.14, no estimates; Revenue increased 45% y/y to $622.4 mln (SFM) 38.59 +1.37 : Second quarter net sales growth was driven by the Sunflower Transaction, an increase in comparable store sales growth and new store openings. Net sales increased 22% compared to pro forma sales for the same period of 2012, driven by pro forma comparable store sales growth of 10.8% and strong performance in new stores opened. The pro forma comparable store sales growth increase resulted from a balanced rise in traffic and basket size and continued strong performance across departments.

Gross Margin: Gross profit increased 43% to $187.0 million resulting in a gross profit margin of 30.1% of sales, or a decrease of 30 basis points, from the same period in 2012.

New Stores: During second quarter 2013, the Company opened six new stores, four in California and one each in Oklahoma and Texas. An additional five stores have been opened in the third quarter to date bringing 2013 new store openings to 17, for a total of 165 stores in eight states as of Aug. 22, 2013. The Company expects to open two more stores in 2013, bringing total new stores in 2013 to 19.

Guidance: For FY13, company expects 19-21% growth compared to pro forma net sales in FY12; Pro forma comparable store sales growth of 8.5 to 9.0%; Net Income of $44.0 million to $47.0 million; Adjusted diluted earnings per share of $0.41 to $0.43; and Capital expenditures of $70.0 million to $75.0 million, net of landlord reimbursements.

Monday, August 19, 2013

Heat Biologics (HTBX) began trading on the NASDAQ on 24 July 2013


Heat Biologics is a development-stage biopharmaceutical company engaged in the development of allogeneic, off-the-shelf cellular therapeutic vaccines to combat a range of cancers and infectious diseases. Its ImmunePan Antigen Cytotoxic Therapy (ImPACT) is being designed to deliver live, genetically-modified, irradiated human cells which are reprogrammed to pump out a range of cancer-associated antigens together with a immune adjuvant called gp96 to educate and activate a cancer patient’s immune system to recognize and kill cancerous cells. Its primary product candidates are HS-110 and HS-410. It is also developing ImPACT therapeutic vaccines for breast cancer and ovarian cancer.


Suite 420, 100 Europa Drive
United States

Website links

Key stats and ratios

Q1 (Mar '13)2012
Net profit margin--3483.60%
Operating margin-0.00%
EBITD margin-83.28%
Return on average assets-2.71%-65.73%
Return on average equity-1409.31%-

Re/Max (RMAX) Holdings files for IPO

Hoping to benefit from a improvement in the U.S. housing market, Re/Max Holdings Inc. has filed with U.S. regulators to raise up to $100 million through an initial public offering of Class A common stock.

Denver, Colorado-based Re/Max operates through a network of agents and franchises and had about 92,000 agents in 95 countries as of July 31, according to the IPO filing. The company recorded revenue of $78.3 million for the six months ended June 30.

Existing home sale transactions are expected to rise an aggregate of 8.3 percent in 2013, according to data from the National Association of Realtors cited in the filing.

Morgan Stanley, BofA Merrill Lynch and JP Morgan are the underwriters to Re/Max's offering.

The company was founded in 1973 by Dave Linger and Gail Liniger, who currently serve on the board as chairman and vice chairman.

Re/Max said it would use some of the proceeds from the offering to acquire regional franchise rights in Southwest and Central Atlantic United States.

Re/Max intends to list its Class A shares on the New York Stock Exchange under the symbol “RMAX”. The filing did not say how many shares the company plans to sell or their expected price.

Saturday, August 17, 2013

Ad technology company Rocket Fuel (FUEL) files for IPO

(Reuters) - Advertising technology company Rocket Fuel Inc filed with U.S. regulators to raise up to $100 million in an initial public offering of its common stock.

Credit Suisse and Citigroup are acting as lead underwriters for the offering, Rocket Fuel said in a regulatory filing with the U.S. Securities and Exchange Commission on Friday.

The Redwood City, California-based company uses artificial intelligence and big data to help customers place their ads on websites and mobile networks. It had 784 active customers, as of June 30.

Reuters had reported in February that Rocket Fuel had hired Credit Suisse and Citigroup to lead its IPO later in the year.

Display, mobile, social and video channels for digital advertising are expected to grow to $73 billion in 2016 from $42 billion in 2012, globally, according a Magna Global report cited in the filing.

The company reported a loss of $11.9 million on revenue of $92.6 million for the half year ended June, 2013.

Rocket Fuel has raised over $76 million in funding from investors including Mohr Davidow Ventures, Northgate Capital and Summit Partners.

The company said it intends to list its stock under the symbol "FUEL," but did not reveal the exchange it plans to list on.

The filing did not reveal how many shares the company planned to sell or their expected price.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

Thursday, August 15, 2013

Third Point Reinsurance (TPRE) began trading on the NYSE on 15 August 2013

Executives and guests of Bermuda-based Third Point Reinsurance Ltd., a specialty property and casualty reinsurer, celebrates the company’s IPO at NYSE. Third Point Reinsurance Ltd.

Third Point Reinsurance CEO and Chairman John Berger rings the opening bell at the New York Stock Exchange to celebrate the company's IPO on August 15, 2013 in New York City

Wednesday, August 14, 2013

Envision Healthcare (EVHC) began trading on the NYSE on 14 August 2013

Clayton Dubilier & Rice-backed Envision Healthcare Holdings (EVHC) priced its upsized initial public offering at $23 per share, at the top of the expected $20 to $23 range, raising $966 million on Tuesday.

The Greenwood Village Colo.-based provider of outsourced medical and ambulance services sold 42 million shares; it had originally planned to offer 35 million shares. Private equity backer CD&R did not sell any shares in the IPO. At the IPO price, its stake of 128.9 million shares is valued at $2.96 billion.

That, added to the $428 million dividend Envision paid CD&R in October, brings the private equity firm's realized and unrealized gain to about 3.8 times the $887.1 million in equity it paid for the company in 2011, based on financial information in the company's filings.

CD&R acquired the company, then known as Emergency Medical Services Corp., in February 2011 in a deal valued at $3.2 billion. The acquisition was done via its Clayton, Dubilier & Rice Fund VIII, which closed in 2009 with $5 billion.

Envision's shares opened at $25.25 on its first day of trading; they traded up to a high of $25.69 by the afternoon.

The company said it will use proceeds of the IPO to redeem the outstanding $450 million principal amount of its PIK notes at about 102.75% of the principal amount plus accrued and unpaid interest, which it estimated to be around $17.2 million.

Envision posted adjusted EBITDA of $105.9 million on revenue of $899.3 million in the second quarter of 2013, up from adjusted EBITDA of $96.3 million on revenue of $801.1 million in the same quarter of the previous year.

Envision Healthcare listed on the New York Stock Exchange under the ticker symbol "EVHC." Goldman Sachs &, Barclays, Bank of America Merrill Lynch and Citigroup acted as the lead bookrunners on the deal.

Saturday, August 10, 2013

Biotechs - some of the best IPOs of 2013

Cvent (CVT) began trading on the NYSE on 9 Aug 2013

McLean,VA-based Cvent raises $117.6M in IPO
Cvent, the maker of event management software, raised $117.6 million in an initial public offering on Friday, money that the company plans to use to expand its business globally and develop mobile products.

The company listed its shares on the market at $21 a piece, $2 above its previously estimated range of $17 to $19 per share. The stock closed 56.8 percent higher at $32.92 per share.

Cvent chief executive Reggie Aggarwal rings the opening bell at the New York Stock Exchange to celebrate the company's IPO on August 9, 2013.

Cvent now trades on the New York Stock Exchange under the ticker symbol “CVT.”

The public offering comes at a time when the stock market has been more hospitable to such transactions. The first six months of the year saw 96 companies go public, up 23 percent from 78 companies in the first half of last year, according to a July report from PricewaterhouseCoopers.

Investors have bemoaned that the opportunities to go public at a favorable valuation have been scarce and less predictable since the economic downturn. But Cvent co-founder Chuck Ghoorah said executives take a “10-year view” of the business rather than focusing on current market conditions.

“We’ve been at this 14 years, and we’re not about timing the market,” Ghoorah said. “We felt that this was the right time to do it because of the maturity and scale of the business.”

Cvent was the second Washington area company to go public last week. Blacksburg-based Intrexon, a life sciences company that also has offices in Germantown, collected $160 million in an initial public offering Thursday. That company also trades on the New York Stock Exchange under the ticker symbol “XON.”

Cvent’s IPO marks yet another milestone of success for the 14-year-old company as it has sought to rebuild after the dot-com bust in the early 2000s forced Cvent to lay off a large swath of its staff and nearly close its doors entirely.

Chief executive Reggie Aggarwal said Friday the money will help Cvent continue its expansion into international markets, particularly Europe and Asia. The firm opened an office in London earlier this year and already maintains operations in India.

Cvent also counts roughly 180,000 users in 100 countries, Aggarwal said, giving the company’s an expansive reach. But with thousands of events being planned in any given city at any given time, there’s still ample room for growth, he said.

“We see that each country has its own set of needs, and that’s one of the reasons you have to localize the software to the country you’re in,” Aggarwal said.

The firm also plans to continue its investment in mobile. Cvent acquired two companies last year, Portland-based CrowdCompass and Austin-based CrowdTorch, that create mobile applications for professional and personal events, respectively.

“There’s been a big transformation in the meetings and events space, and we want to make sure we have the right capital to take advantage of the opportunities,” Aggarwal said.

That transformation, executives said, is being driven largely by consumers who want to use the smartphones in their pockets while attending industry conferences, concerts or other gatherings.

“You’re tired of carrying around the spiral-bound binder that as soon as you get it and your schedule changes, the thing is out of date,” said Ghoorah, who is also executive vice president of sales and marketing. “They’re demanding no more of this paper stuff.”

Having the capital to chase new business opportunities stands in stark contrast to an earlier chapter in Cvent’s history. Ten years ago, the firm had exhausted the $17 million it raised from investors in its infancy, only to find little appetite for further investments when the Internet bubble burst.

Aggarwal and a team of executives, many of whom remain with Cvent, spent the next decade diligently adding customers and expanding the company’s software offerings without reaching back into investors’ pockets.

The company finally raised money again in July 2011, collecting $136 million in a round led by New Enterprise Associates and Insight Venture Partners. Now, the company is taking in $117.6 million more after its stock offering.

“This is a great day to be excited, to smell the roses, but on Monday, we’re going to get back to building meeting technology tools and serving our customers,” Aggarwal said.


Price per share at the start of trading.


Total amount, in millions, raised in the public offering.

Thursday, August 8, 2013

Intrexon (XON) began trading on the NYSE on 8 Aug 2013

Synthetic biology company Intrexon celebrate their IPO at the New York Stock Exchange on August 8, 2013 in New York City.


Intrexon Corporation is engaged in the business of synthetic biology. Using the Company’s suite of complementary technologies, it design, build and regulate gene programs, or sequences of deoxyribonucleic acid (DNA) that control cellular function, and cellular systems, or activities that take place within a cell and the interaction of those systems in the greater cellular environment, to enable the development of new and improved products and manufacturing processes across a variety of end markets, including healthcare, food, energy and environmental sciences. Its technologies include the UltraVector gene design and fabrication platform; Cell Systems Informatics; LEAP-cell identification and selection, and mAbLogix-antibody discovery. The Company’s LEAP technology facilitates the automated identification of an individual cell with the highest levels of expression, quality and potency from a population of over 100,000 cells.


20374 Seneca Meadows Parkway


Key stats and ratios

Q3 (Sep '13)2012
Net profit margin244.43%-586.00%
Operating margin-196.27%-539.73%
EBITD margin--482.39%
Return on average assets15.87%-61.24%
Return on average equity6758.35%-

Fox Factory Holding (FOXF) began trading on the NASDAQ on 8 August 2013

Shares of Fox Factory Holding (FOXF)  jumped on the day of their initial public offering Thursday. Shares of Fox Factory surged 23% to $18.50 in recent trading. The maker of high-performance vehicle suspension products priced just under 8.6 million shares at $15 a piece late Wednesday. Fox Factory is offering 2.9 million shares and shareholders including Compass Group Diversified Holdings LLC CODI -0.55% are offering 5.7 million. Underwriters have a 30-day option to buy an additional 1.3 million shares.

Wednesday, August 7, 2013

YuMe (YUME) began trading on the NYSE on 7 Aug 2013

Founders and Executives of Redwood City, Calif.-based YuMe, a leading independent provider of digital video advertising, celebrate the company’s initial public offering. YuMe will begin trading today on the NYSE under the ticker symbol “YUME”.



YuMe, Inc. is engaged in providing digital video brand advertising solutions. Its technologies serve the specific needs of brand advertisers and enable them to find and target large, brand-receptive audiences across a range of Internet-connected devices and digital media properties. Its software is used by global digital media properties to monetize professionally-produced content and applications. It facilitates digital video advertising by dynamically matching relevant audiences available through its digital media property partners with appropriate advertising campaigns from its advertising customers. The Company generates revenuesby delivering digital video advertisements on Internet-connected devices.


1204 Middlefield Road, Silicon Valley
REDWOOD CITY, CA 94063-2059
United States

Website links

Key stats and ratios

Q1 (Mar '13)2012
Net profit margin-11.82%5.37%
Operating margin-11.63%6.12%
EBITD margin-8.50%
Return on average assets-14.75%8.39%
Return on average equity--

Thursday, August 1, 2013

Sprouts Farmers Market (SFM) began trading on the NASDAQ on 1 August 2013

Shares of natural and organic food grocer Sprouts Farmers Market (SFM) on Thursday doubled to $36.52 on their first trading day. The company's initial public offering price of $18 a share raised about $333 million in proceeds and was also above the $14-$16 price that it had expected. Sprouts' larger rival Whole Foods Market (WFM) was flat after it reported a 21% profit jump but disappointing sales. Whole Foods Co-CEO John Mackey said the company continues to gain market share despite growing competition.

This company is sprouting up all over the place. A fast-growing natural foods retailer, Sprouts Farmers Market operates more than 155 stores in Arizona, California, Colorado, Nevada, New Mexico, Oklahoma, Texas, and Utah. The stores (ranging from 23,000 to 37,000 sq. ft.) sell organic and local produce, baked goods, all-natural meats and seafood, imported cheeses, bulk foods, and vitamins and supplements. Stores also boast more than 300 bins of bulk rice, spices, nuts, and grains. In 2012 Sprouts completed a merger with Sunflower Farmers Market, giving Sprouts the #2 spot in the natural organic retail market, behind Whole Foods Market. Apollo Management (APO) holds majority ownership of the combined businesses.


11811 N. Tatum Blvd., Ste. 2400
Phoenix, AZ 85028

Website links