Start the conversation
Seven companies are on our IPO calendar next week.
Traders and investors who track the IPO marketplace will be watching carefully to see if there is enough demand to meet the wave of capacity anticipated. Most suspect that the demand is more than strong enough and companies making their trading debut will be healthy performers.
Let's take a look at the upcoming IPOs investors should watch.
IPO Calendar March 19 – 22
In addition to Model N software, which was covered last week, six more companies are slated to hit the market next week.
On March 19, Tetraphase Pharmaceuticals (Nasdaq: TTPH) will offer 6.8 million shares priced between $10 and $12.
The biotech firm is working to develop drugs that fight infections that are resistant to existing drugs and technologies.
Its lead drug is a synthetic version of tetracycline that has completed Phase II trials and should enter Phase III testing and be completed by 2015.
The offering will be managed by Barclays and BMO capital markets.
On March 21, Enanta Pharmaceuticals (Nasdaq: ENTA) plans to raise $60 million by offering 4 million shares priced between $14 and $16.
The company is working on small molecule drugs to fight infectious disease with an initial emphasis on drug combination to combat the Hepatitis C virus. The company believes the best approach to attacking the virus is using a combination of drugs and is working with Abbott Laboratories (NYSE: ABT) and Novartis Pharmaceuticals (NYSE ADR: NVS) to develop an effective approach.
JPMorgan and Credit Suisse are the joint managers of the offering.
Also on March 21, real estate investment trust Aviv REIT Inc. (NYSE: AVIV) will price 13.2 million shares between $18 and $20 per share.
The company invests in long-term skilled nursing facilities, which it then leases to third-party operators. The properties are leased on a triple net basis and the lessees are responsible for the operations and maintenance of the facilities.
At year end 2012, the company owned 258 properties in 29 states leased to 38 different tenant operators. The average lease has more than eight years remaining and only 7% of the portfolio has leases expiring in the next five years.
Morgan Stanley, Goldman Sachs and Bank of America Merrill Lynch are the joint managers of the offering.
On March 22, we will see the largest deal of the week when West Corp. (Nasdaq: WSTC) prices 21.3 million shares between $22 and $25 a share.
The company offers call center and conference call technology and is the largest provider of conferencing services by revenue, according to the prospectus. It also markets products to government agencies for emergency communications services.
Management believes that as state and local governments update to next generation 9-1-1 services, West Corp. is well-positioned to gain a significant percentage of that marketplace.
The company was taken private in a leveraged buyout led by Thomas Lee, a major private equity firm, back in 2004 and this offering is its return to the market as a public company. The private equity firm will still own more than 50% of West Corp. following the offering.
Goldman Sachs and Morgan Stanley are joint managers of the deal.
The same day will see the debut of Marin Software (NYSE: MRIN), a cloud-based digital advertising firm. The company will offer 7 million shares with an expected range of $12 to $13.
The company's software platform allows companies to manage and evaluate their spending across advertising alternatives including search, social media and mobile display.
In the prospectus, Marin claims that its client base controls advertising budgets totaling $4.7 billion on its platform, and it currently has 531 active subscribers using Marin products. Revenue is generated from subscription fees based upon advertising volumes and have grown for 15 consecutive quarters.
Goldman Sachs and Deutsche Bank Securities are the joint managers.
The IPO calendar for 2013 should continue to fill up as many of the more anticipated deals such as Sea World (SEAS), Taylor Morrison Homes (TMHC) and Fairway Markets (FWM) are anticipated to be completed by month's end.
Check out who else is on our IPO Calendar 2013 here.