The IPO calendar is loaded again this week with nine companies making their public debut in the United States.
According to research firm Renaissance Capital, 45 IPOs have already been priced this year in the United States, a 96% increase from this time last year.
Here are the IPOs to watch this week.
March 2014 IPO Calendar
Paylocity Holding Corp. (Nasdaq: PCTY) provides cloud-based payroll and human capital management services to medium-sized companies. Paylocity serves more than 6,850 clients in the United States. The company will make its public debut on Wednesday, March 19, and will be offering nearly 6.7 million shares at a range of $14 to $16. Paylocity is expected to have a market value of around $765 million. The company was founded in 1997 and reported $91 million in sales in the last 12 months.
Mediwound Ltd. (Nasdaq: MDWD) is a biopharmaceutical company that develops therapies for severe wounds, particularly burns. Mediwound will begin trading on the Nasdaq on Thursday, March 20. The company is looking to raise approximately $75 million in its IPO by offering 5 million shares at a range of $14 to $16. Credit Suisse Group (NYSE: CS), BMO Capital Market Corp., and Jefferies LLC are the lead underwriters on the deal.
Q2 Holdings Inc. (NYSE: QTWO) provides cloud-based virtual banking services to its client base comprised mostly of community banks. Q2 will be selling 7.8 million shares at a range of $11 to $13 per share, as it attempts to raise $93 million. At the midpoint of that range, QTWO will be valued at $433 million. QTWO will begin trading on the New York Stock Exchange on Thursday, March 20.
Akebia Therapeutics Inc. (Nasdaq: AKBA) will hit the market on Thursday, March 20. AKBA will trade on the Nasdaq, and the company is offering 4.9 million shares at a range of $14 to $17. Akebia is a biopharmaceutical company whose lead product is used in the treatment of anemia. The drug is currently in phase II trials. The company is expected to have a market value of approximately $302 million when it goes public this week.
Globoforce Group Plc (Nasdaq: THNX) provides its clients with cloud-based social recognition software. The company works with more than 100 companies and 1.9 million users globally. THNX will begin trading on the Nasdaq on Friday, March 21. It is one of five companies going public in the United States that day. The company will be offering more than 4.4 million shares at a range of $16 to $18. At the midpoint of that range, THNX would raise nearly $75 million and have a market value of more than $470 million.
A10 Networks Inc. (NYSE: ATEN) will makes its public debut on the New York Stock Exchange Friday, March 21. ATEN plans to offer 12.5 million shares at a range of $13 to $15, which will give it a valuation of approximately $925 million. The company provides networking technologies to data centers. In the past 12 months, A10 has reported $142 million in revenue. The company hopes to raise around $175 million Friday.
Versartis Inc. (Nasdaq: VSAR) is another biopharmaceutical company going public this week. VSAR develops long-acting human growth hormones for patients with hormone deficiencies. In its initial public offering, VSAR will be selling 4.6 million shares at a $16 to $19 range. If the company raises its projected $81 million, it will have a market value of $409 million. VSAR will make its public debut on the Nasdaq on Friday, March 21.
Amber Road Inc. (NYSE: AMBR) offers cloud-based services that automate the import and export processes for companies that ship goods internationally. The company is looking to raise $75 million in its IPO by offering 6.5 million shares at a $10.50 to $12.50 range. The company has reported $53 million in revenue in the past year. Friday, March 21 is the first day that AMBR stock will begin trading on the New York Stock Exchange.
Borderfree Inc. (Nasdaq: BRDR) will be the fifth company to make its initial public offering on Friday, March 21, when it begins trading on the Nasdaq. Borderfree provides a software platform that helps U.S. retailers conduct international e-commerce. The company will be offering 5 million shares at a range of $14 to $16 as it tries to raise $75 million. The company is expecting a valuation just under $500 million. BRDR reported $110 million in revenue in the last year.
Which IPOs on this week's calendar catch your eye? Do you plan to invest in any of them? Give us the details on Twitter @moneymorning using #IPOs.
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