There are three deals on the upcoming IPO calendar this week. According to Renaissance Capital, a manager of IPO-focused ETFs, they're expected to raise a combined $427 million.
The trio follows last week's strong performance, which included four billion-dollar IPOs. Etsy Inc. (Nasdaq: ETSY) roared out of the gate, gaining 88%. Etsy become the best first-day return for a tech IPO all year. Aduro BioTech Inc. (Nasdaq: ADRO) leaped 147% and is the third IPO of 2015 to more than double on the first day.
Leading the pack this week is National Storage Affiliates Trust (NYSE: NSA). It will be the fifth real estate investment trust (REIT) IPO so far this year, already matching last year's count.
Here's a look at all of the deals on this week's upcoming IPO calendar...
Three New Offerings on the Upcoming IPO Calendar
National Storage Affiliates Trust (NYSE: NSA) is a REIT that acquires, owns, and operates regional self-storage facilities. The company owns 225 properties in 13 states, totaling about 12.4 million rentable square feet. That makes it the sixth-largest owner of self-storage properties in the United States. NSA plans to raise $320 million by offering 20 million shares at a $15 to $17 price range. It commands a market valuation of $880 million and will debut on Thursday, April 23.
NSA competes with Jernigan Capital Inc. (NYSE: JCAP), another self-storage REIT that went public in March. Jernigan raised $100 million at a $105 million valuation. JCAP stock has gained 6.5% since its debut. Other REIT IPOs this year include InfraREIT Inc. (NYSE: HIFR) and Easterly Government Properties Inc. (NYSE: DEA). Those stocks have gained 39.1% and 7.3% respectively since their IPOs.
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Apigee Corp. (Nasdaq: APIC) provides a cloud-based platform for businesses to design and scale application program interfaces (APIs). An API is a set of tools for building software apps and specifies how the apps interact with one another. The California-based company boasts big-name customers like Dell and Adobe Systems Inc. (Nasdaq: ADBE). It's set for an $87 million deal. ADBE will sell 5.1 million shares at a price range of $16 to $18. It's valued at $550 million and will begin trading on Friday, April 24.
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Viking Therapeutics Inc. (Nasdaq: VKTX) is a San Diego-based biotech firm developing drugs for hip injuries and metabolic disorders. Viking's lead treatment is an oral medication for patients recovering from non-elective hip fracture surgery. The company originally filed for its IPO last September and was set to raise $55 million by offering 5 million shares at a $10 to $12 price range. It has since slashed its deal by 64%. Viking now hopes to raise $20 million by selling 2.5 million shares at a $7 to $9 price range. The firm is valued at $69 million and will hit the market on Friday, April 24.
More on IPOs: The IPO roadshow - or "dog and pony show" - is the most important step that a company takes to market its new stock. In fact, 82% of institutional investors cite the roadshow as a key component of their buying decision. Here's the one thing that ensures a successful IPO roadshow...
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