initial public offerings (IPOs) trading on American exchanges

Friday, April 27, 2018

Goosehead Insurance (GSHD) began trading on the Nasdaq on 27 April 2018

Goosehead Insurance opens for trading at $12 after pricing IPO at $10
Headquarters: Westlake, TX
Founded: 2003

  • 1-month performance

DocuSign (DOCU) began trading on the Nasdaq on 27 April 2018

DocuSign provides electronic signature technology and digital transaction management services for facilitating electronic exchanges of contracts and signed documents.
  • Headquarters: San Francisco, CA
  • Founded in 2003. Its primary competitor is Adobe (ADBE).
  • DocuSign opens for trading at $38 after pricing IPO at $29
  • Offer size:  $724 million

Smartsheet (SMAR) began trading on the NYSE on 27 Apr 2018

Smartsheet is a software as a service (SaaS) application for collaboration and work management.
It competes with Microsoft Project. As of 2016, there were 10 million users in 85,000 organizations.
  • Headquarters: Bellevue, WA
  • Founded: 2005
  • Smartsheet opens for trading at $18.40 after pricing IPO at $15

  • 1-month performance

Sunday, April 22, 2018

BJ's Wholesale Club prepares for an IPO

Firms that own BJ's Wholesale Club are readying an initial public offering in the coming months, The Wall Street Journal reports.
The company's filed confidential registration and could start trading as soon as May, according to the report.

It's owned by private-equity firms Leonard Green & Partners and CVC Capital Partners, which are looking to raise at least $400M, valuing the business at $2B-$3B.

They started talking about a sale or IPO of BJ's last year, only to find other PE firms as interested buyers.

Saturday, April 21, 2018

MorphoSys AG (MOR) began trading on the Nasdaq on 19 April 2018

MorphoSys AG is a German biotechnology company. It is involved in the development and research of antibodies. TecDAX has listed MorphoSys since 2004.
  • Headquarters: Planegg, Germany
  • Number of employees: 460 (end 2010)
  • Founded: 1992, Martinsried, Germany
MorphoSys raised upwards of $207.8 million. The company says it’s gathering resources to sink $225 million into the development of its investigational anti-CD19 antibody MOR208 -- a drug it’s developing for diffuse large B cell lymphoma (DLBCL).  After its last batch of upbeat data from a Phase II study, MorphoSys, which already received breakthrough status for the drug, said it went straight to regulators hoping for early approval.

Friday, April 20, 2018

SecureWorks Corp. (SCWX) : 2-year performance

SecureWorks Corp., through its subsidiaries, provides intelligence-driven information security solutions focused on protecting organizations from cyber-attacks.
  • Founded in 1999
  • Headquarters: Atlanta, Georgia.
  • SecureWorks Corp. is a subsidiary of Dell Inc.
  • Sector: Technology;  Industry: Software - Application
  • Full Time Employees: 2,555

Long trade : AAOI +6% (4/18)

  • Apr. 19:  #97;  vol. 1.7M


Pivotal Software (PVTL) began trading on the NYSE on 20 April 2018

Pivotal Software, Inc. is a software and services company that accelerates and streamlines software development and modernizes legacy applications.
The enterprise cloud computing company has been majority-owned by Dell, which came about after its merger with EMC in 2016. It was spun off from Dell, EMC and VMware in April 2013. After that, it raised $1.7 billion in funding from Microsoft, Ford and General Electric.
  • Headquarters: San Francisco, California
  • Parent organization: Dell Technologies
  • Number of employees: 2,518 (2017)
  • Losses for fiscal 2018 stood at $163.5 million, improved from negative $232.5 million seen in 2017 and $282.5 million in 2016.
  • Priced IPO at $15; raised $555 million

In the S-1 filing, Pivotal acknowledged that it faces competition from “legacy application infrastructure and middleware form vendors” like IBM and Oracle. The company says it additionally competes with “open-source based offerings supported by vendors” like RedHat. Pivotal also faces challenges from SAP Cloud Platform, Amazon Web Services and Microsoft Azure.

Friday, April 13, 2018

Spero Therapeutics (SPRO) began trading on the Nasdaq on Thur 2 Nov 17

Spero Therapeutics, Inc., a clinical-stage biopharmaceutical company, focuses on identifying, developing, and commercializing treatments for multi-drug resistant (MDR) bacterial infections and rare diseases in the United States. 
  • Sector(s): Healthcare
  • Industry: Biotechnology
  • Full Time Employees: 41
  • Founded in 2013 
  • Headquartered in Cambridge, Massachusetts.

Spero Therapeutics (NASDAQ:SPRO) priced its initial public offering to the low end of its range, at $14.
It had marketed at $14-$16/share. 
It offered 5.5M common shares at that price, for a raise of $77M.
Shares opened at $13.25, ~5% lower than the offer price of $14.

Zuora (ZUO) began trading on the NYSE on 12 April 2018

  • cloud software company

Tien Tzuo, founder of Zuora

Long trade : APPF +10% (4/18)

a.  April 4:  vol. 111k;  $40
b. April 5:  vol. 120k; $41

Trevena (TRVN) : 4-year performance

Liberty Oilfield Services (LBRT) : 3-month performance