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IPO Calendar 2014 update: This year, 212 companies have already held IPOs, and the healthcare industry has seen more companies go public than any sector.
Through Monday, 51 healthcare companies have made initial public offerings, accounting for 24% of the total U.S. IPO market.
Healthcare stocks are once again at the forefront of the IPO calendar this week as five of this week's seven IPOs are healthcare companies.
Here's a look at each company hitting the market this week, and the story behind each deal.
This Week's Seven Upcoming IPOs
Ambrx Inc. (Nasdaq: AMBX) is the largest IPO this week as it plans to raise $70 million by selling 5.4 million shares at a $12 to $14 range. AMBX is a biotech company that focuses on the treatment of tumors and other diseases. Last year, AMBX reported revenue of $20 million, and the company is expected to have a valuation of $246 million following its IPO. AMBX has not announced an exact date when its shares will begin trading publicly, but the IPO is expected this week.
Taggares Agriculture Corp. (Nasdaq: TAG) owns and operates apple orchards and vineyards in Washington, Oregon, and Idaho. TAG is looking to raise $46 million in its IPO by selling 7 million shares at a range of $6 to $7. In the last year, TAG had revenue of $8 million. Following the initial public offering, TAG is expected to have a valuation of $54 million. TAG shares will begin trading on the Nasdaq on Tuesday, July 1.
Investar Holding (Nasdaq: ISTR) is a commercial bank that operates 10 branches in Louisiana. ISTR plans to raise $46 million by offering 2.9 million shares at a range of $15 to $17 per share. In the last year, ISTR had revenue of $22 million, and the company is expected to have a market value of $110 million. ISTR stock will begin trading on the Nasdaq on Tuesday, July 1.
Those aren't the only new stocks hitting the market this week. Take a look at the remaining four...
Minerva Neurosciences Inc. (Nasdaq: NERV) is a clinical-stage biotech company that focuses on central nervous system diseases. Through its IPO, NERV is looking to raise $33 million by offering 5.5 million shares for $6 each. NERV is expected to have a valuation of approximately $187 million following the IPO. The company had initially planned to price shares between $10 and $12, but announced today (Monday) that it was reducing the size of its IPO by 45%. NERV will trade on the Nasdaq.
KineMed Inc. (Nasdaq: KNMD) develops biomarker tests that are used to measure the progression of diseases so that commercial drugs can be improved. KNMD will make its public debut on Tuesday, July 1, and the company is looking to raise $32 million. KineMed is expecting to price its shares between $6.50 and $7.50, and will be offering 4.5 million shares. Last year, KNMD had revenue of $7 million.
Microlin Bio (Nasdaq: MCLB) plans to raise $30 million by offering 6 million shares at a $10 to $12 range. MCLB has not announced an exact date for its IPO, but is expected to price its shares this week.
GlobeImmune Inc. (Nasdaq: GBIM) plans to raise $25 million by offering 1.6 million shares at a $15 to $17 range. GBIM will make its public debut on Wednesday, July 2.
Do you plan on investing in any of this week's seven IPOs? Join the conversation on Twitter @moneymorning using #IPOs.
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