There are 12 upcoming IPOs this week, and the biggest company to watch is Antero Midstream Partners LP (NYSE: AM).
Antero Midstream is a limited partnership that owns, operates, and develops midstream assets that service its parent company, Antero Resources Corp. (NYSE: AR).
AM joins a crowded list of master limited partnerships (MLPs) holding IPOs recently. Last week, Shell Midstream Partners LP (NYSE: SHLX) held a $920 million IPO. As of this morning, SHLX stock is up 50% from its IPO price.
Four weeks ago, Dominion Midstream Partners LP (NYSE: DM) held a $368 million IPO. Its shares are up 43% from the offer price.
AM stock is hitting the market at the perfect time. The MLP market is hot, and its revenue is soaring (more on that below). It's also the best bet for future profit potential among the companies hitting the IPO market this week.
Here's a closer look at the Antero Midstream deal and the rest of this week's 11 new IPOs...
This Week's 12 Upcoming IPOs
Antero Midstream Partners LP (NYSE: AM) works primarily on the Marcellus Shale and Utica Shale formations. Through the IPO, AM plans to raise $750 million by selling 37.5 million shares at a $19 to $21 range. According to IPO ETF manager Renaissance Capital, revenue was $29 million in the first six months of 2014. That was up from $5 million the previous year. AM should have a market cap of roughly $3 billion after the deal. Shares of AM will hit the New York Stock Exchange on Wednesday, Nov 5.
INC Research Holdings Inc. (Nasdaq: INCR) is a global contract research organization looking to raise $150 million this week. The company plans to sell 8.1 million shares at a $17 to $20 range. Following the deal, INCR is expected to have a market cap of $1.1 billion. Through the first three quarters of 2014, the company had $596 million in revenue. That was a 25% increase from the previous year. INCR stock will debut on Friday, Nov. 7.
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Sky Solar Holdings Ltd. (Nasdaq: SKYS) is a solar power company that operates primarily in Greece and Japan. SKYS wants to raise $138 million this week, and will offer 12.5 million shares between $10 and $12. Through the first six months of 2014, revenue was reported as $14 million. This may not be the best timing for the SKYS IPO, considering revenue is down 39% from last year. After the deal, the firm should have a valuation of $604 million. SKYS stock will begin trading on Friday, Nov. 7.
Freshpet Inc. (Nasdaq: FRPT) is a pet food company that sells its products in more than 12,500 stores across the United States. Through its IPO, FRPT plans to raise $135 million. The company is offering 10.4 million shares at a $12 to $14 range. Through the first two quarters of the year, FRPT had revenue of $40 million. That was a year-over-year increase of 38%. Once the stock hits the market on Friday, Nov. 7, FRPT should have a market cap of $414 million.
Triumph Bancorp Inc. (Nasdaq: TBK) is a regional banking company that operates in the Midwest and Texas. Through this week's IPO, TBK plans to raise $101 million. The company will offer 6.7 million shares at a $14 to $16 range. In the last year, TBK reported revenue of $82 million. TBK should have a market value of roughly $250 million. TBK stock will hit the Nasdaq on Friday, Nov. 7.
Nevro Corp. (NYSE: NVRO) is looking to raise $100 million by offering 6.2 million shares at a $15 to $17 range. NVRO shares will debut on the NYSE on Thursday, Nov. 6.
Coherus BioSciences Inc. (Nasdaq: CHRS) plans to raise $85 million by selling 6.3 million shares at a range of $12 to $15. CHRS shares will hit the market on Thursday, Nov. 6.
Radius Bancorp (Nasdaq: RADB) will raise roughly $64 million by selling 5 million shares at a range of $11.75 to $13.75. RADB stock will begin trading on Thursday, Nov. 6.
CVSL Inc. (NYSE: CVSL) will raise $60 million by selling 6.7 million shares at an $8 to $10 range. CVSL stock will debut on the NYSE on Wednesday, Nov. 5.
Upland Software Inc. (Nasdaq: UPLD) plans to raise $50 million by offering 3.8 million shares at a $12 to $14 range. UPLD stock will hit the market on Thursday, Nov. 6.
Jaguar Animal Health Inc. (Nasdaq: JAGX) wants to raise $40 million, and is offering 5 million shares at a $7 to $9 range. JAGX stock will debut on Wednesday, Nov. 5.
The Joint (Nasdaq: JYNT) plans to raise $30 million by selling 3 million shares at a $9 to $11 range. JYNT has not disclosed a date for its debut, but analysts at Renaissance Capital expect the IPO this week.
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