initial public offerings (IPOs) trading on American exchanges

Wednesday, January 29, 2020

Galmed (GLMD) : 6-year performance

Borr Drilling Limited (BORR) began trading on the NYSE on Wed 31 Jul 19

Norwegian drilling contractor Borr Drilling Limited offered 5 million shares in an IPO, with the pricing fixed at $9.30 per share.

The common shares continue to be listed under the ticker "BDRILL" on the Oslo Børs.
CEO Svend Anton Maier

Lockup Period (days) 180
Lockup Expiration 01/27/2020
Quiet Period Expiration 09/09/2019

The Company
Borr is an international offshore shallow-water drilling contractor providing offshore drilling services to the oil and gas industry. It primarily owns, contracts and operates jack-up rigs for operations in shallow-water areas of depth up to about 400 feet.

The company owns 27 rigs, including 26 jack-up rigs and one semi-submersible rig. With the additional eight jack-up rigs the company is expected to take delivery by the end of 2020, it will have a fleet of 30 jack-up rigs.

Borr currently operates in significant oil producing geographies throughout the world, including the North Sea, the Middle East, Mexico, West Africa and Southeast Asia.

Monday, January 27, 2020

IPOs this week : Jan 27 - 31, 20 (wk 5)

IPOs expected to price
  • Annovis Bio (ANVS) is expected to price its IPO on January 28, 
  • Black Diamond Therapeutics (BDTX) and Avadim Health (AHI) on January 29. 
  • The biggest pricing of the week will be the $1.5B Reynolds Consumer Products (REYN) IPO on January 30. The household products seller generated net income of $135M off revenue of $2.2B for the first nine months of 2019. 
  • 1Life Healthcare (ONEM) and Arcutis Biotherapeutics (ARQT) are also due to price their IPOs on January 30. 
IPO lockup expirations
  • Borr Drilling (NYSE:BORR) on January 27, as well as 
  • Dynatrace (NYSE:DT), Kura Sushi USA (NASDAQ:KRUS), Sundial Growers (NASDAQ:SNDL) on January 28 and 
  • BioCardia (OTCQB:BCDA) on January 29.

Friday, January 24, 2020

Synchrony Financial (SYF) reported earnings on Fri 24 Jan 20 (b/o)

** charts after earnings **


Synchrony Financial beats by $0.03
Reports Q4 (Dec) earnings of $1.10 per share, excluding non-recurring items, $0.03 better than the S&P Capital IQ Consensus of $1.07.

Synchrony Financial provides FY20 outlook in slide presentation

  • Co sees FY20 loan receivables growth of +5-7%.
  • Co sees FY20 net internet margin of 15.25-15.50%.

Monday, January 20, 2020

IPOs this week : Jan 20 - 24, 20

There are no IPO pricings scheduled during the four-day business week, but it's an active few days for IPO lockup expirations.

IPO lockup expirations
  • Livongo Health (NASDAQ:LVGO) Health Catalyst (NASDAQ:HCAT), Sunnova Energy (NYSE:NOVA), ProSight Global (NYSE:PROS), Castle Biosciences (NASDAQ:CSTL) all see their share lockups expire on January 21, 
  • while three companies with sharp post-IPO share price drops - Wanda Sports Group (NASDAQ:WSG), Vista Oil & Gas (NYSE:VIST), Blue Hat Interactive (NASDAQ:BHAT) - hit the lockup end date on January 22.

Monday, January 13, 2020

Albertsons again mulls an IPO

The nation's second-largest supermarket chain is again deciding whether it should go public.

Albertsons, which owns the Jewel-Osco and Safeway chains, is expected to announce in a few weeks whether it will proceed with an initial public offering, which could be valued at around $19 billion. The grocery giant has been updating IPO documents confidentially filed with the Securities Exchange & Commission, sources told the Wall Street Journal.

IPOs this week : Jan 13 - 17, 20

IPOs expected to price
The IPO market slowly starts to heat up again with Phoenix Tree (DNK), Velocity Financial (VEL), I-Mab (IMAB) and Lizhi (LIZI) all expected to price. The four IPOs are on the smaller size, with only real estate finance player Velocity Financial expected to bring in more than $130M.

IPO quiet period expirations
There are also quiet period expirations on Monopar Therapeutics (NASDAQ:MNPR) and Indonesia Energy (INDO) to track.

IPO lockup expirations
IPO share lockup periods expire for

  • DouYu International (NASDAQ:DOYU), Assetmark Financial (NYSE:AMK), Phreesia (NYSE:PHR), Mirum Pharmaceuticals (NASDAQ:MIRM) and Fulcrum Therapeutics (NASDAQ:FULC) on January 14 as well as 
  • Intercorp Financial (NYSE:IFS), Medallia (NYSE:MDLA), Afya (NASDAQ:AFYA) and Innate Pharma (NASDAQ:IPHA) on January 16.

Wednesday, January 8, 2020

BioNTech (BNTX) : 3-month performance

LMP Automotive (LMPX) began trading on the Nasdaq on Thur 5 Dec 2019

LMP is an e-commerce platform for buying, selling and financing late model pre-owned automobiles. Through the Company’s platform, consumers can research and identify a vehicle, obtain financing and warranty coverage, purchase a vehicle and schedule delivery or pick-up all from their desktop or mobile devices.

  • Share Price $5.00
  • Employees 11 (as of 05/18/2019)
  • Shares Offered 2300000
  • Offer amount $11,500,000
  • Shares Outstanding 8,301,639
  • Lockup Period (days) 180
  • Lockup Expiration 06/02/2020
  • Quiet Period Expiration 01/14/2020
  • Website

Samer Tawfik - CEO, Founder & Executive Director

Tuesday, January 7, 2020

-=Apellis Pharma (APLS) : head-to-head trial vs. Alexion (ALXN)

  • A strong showing in a Phase 3 head-to-head trial in patients with rare blood disease has sent shares of the small biotech Apellis Pharmaceuticals soaring.

Shares of Apellis Pharmaceuticals (APLS) rocketed Tuesday after the biotech company's experimental drug outperformed Alexion Pharmaceuticals' (ALXN) blockbuster, Soliris, in a head-to-head test.

The biotech company tested its drug, dubbed pegcetacoplan, in patients with a blood disorder called paroxysmal nocturnal hemoglobinuria, or PNH. A rare disorder, PNH destroys red blood cells and blood clots, and impairs bone marrow function.

At week 16 of the study, patients who received pegcetacoplan showed a stronger increase in hemoglobin vs. those who took Soliris, Apellis said in a news release. Hemoglobin is a protein responsible for transporting oxygen in the blood.

"Pegcetacoplan is the first and only investigational therapy to demonstrate superiority compared to (Soliris) on hemoglobin levels," Apellis Chief Medical Officer Federico Grossi said in a written statement. "We are also excited to see 85% of patients treated with pegcetacoplan were transfusion free."

Monday, January 6, 2020

IPOs this week : Jan 6 - 10, 20

No new U.S. pricings are expected during the first full week of the new year.

IPO quiet period expirations
The analyst quiet period expires on
  • XP (NASDAQ:XP) on January 6 and 
  • Sprout Social (NASDAQ:SPT), EHang (NASDAQ:EH) and OneConnect (NYSE:OCFT) on January 7. 
Across the Pacific, liquid crystal material producer Beijing Bayi Space LCD Technology will be listed on the Shanghai Stock Exchange's sci-tech innovation board and Chinese restaurant chain operator Jiumaojiu International will be listed in Hong Kong.

Habit Restaurants (HABT) to be acquired by Yum Brands (YUM) for $14 per share or $375M

Following the deal, The Habit Burger Grill will become a subsidiary of Yum! Brands joining the likes of KFC, Pizza Hut and Taco Bell.

However, the fast-casual restaurant will continue to be operated as an independent brand and managed by its current president and CEO Russell Bendel and CFO Ira Fils.

Founded in California in 1969, The Habit Burger Grill offers a variety of made-to-order chargrilled burgers and sandwiches, as well as salads, sides and shakes. It operates nearly 300 company-owned and franchised restaurants across the US and China.

Based in Kentucky, Yum! Brands is the parent company of over 50,000 restaurants, primarily operating the company’s brands – KFC, Pizza Hut, and Taco Bell,  in more than 150 countries.

Friday, January 3, 2020

Lamb Weston (LW) reported earnings on Fri 3 Jan 20 (b/o)

** charts after earnings **


Lamb Weston beats by $0.09, beats on revs; guides FY20 revs in-line

  • Reports Q2 (Nov) earnings of $0.95 per share, excluding non-recurring items, $0.09 better than the S&P Capital IQ Consensus of $0.86; revenues rose 11.8% year/year to $1.02 bln vs the $0.96 bln S&P Capital IQ Consensus.
  • Co issues guidance for FY20, sees FY20 revs of high end of up mid single digits (cons +7% yr/yr) vs. $4.02 bln S&P Capital IQ Consensus; sees adjusted EBITDA of $965-985 mln