There are 14 upcoming IPOs this week, which marks the busiest five-day stretch for IPOs since July 28, 2014. They're expected to raise a combined $1.9 billion.
The most anticipated offering this week is Bojangles' Inc. (Nasdaq: BOJA). It will be the second restaurant IPO this year behind Shake Shack Inc. (NYSE: SHAK). SHAK stock roared out of the gate on its Jan. 29 debut and has gained 237% since then.
The Bojangles' IPO could continue the hot streak of first-day pops for restaurant deals. Shake Shack soared 118.6% in its first trading session. Burger chain The Habit Restaurants Inc. (Nasdaq: HABT) doubled its share price on its first day last fall. Shares of El Pollo Loco Holdings Inc. (Nasdaq: LOCO) leaped 60.2% on its opening day in October.
Here's a look at the Bojangles' IPO and the rest of the upcoming IPOs this week...
The 14 Upcoming IPOs This Week
Bojangles' Inc. (Nasdaq: BOJA) is a restaurant chain known for its Southern-style chicken and biscuits. The company has 622 stores across 10 states and Washington, D.C. Bojangles' deep-fried offerings don't offer much in the way of health claims. According to Renaissance Capital, a manager of IPO-focused ETFs, Bojangles' instead emphasizes its made-to-order meals and cult following. Investors are drawn to the company's growing sales, with $430 million last year alone. The chain plans to raise $100 million by selling 6.25 million shares at a $15 to $17 price range. It's valued at $629 million and will hit the market on Friday, May 8.
Tallgrass Energy GP LP (NYSE: TEGP) is a natural gas company that owns interests in Tallgrass Energy Partners LP (NYSE: TEP). Tallgrass provides gas transportation and storage services for customers in the Rocky Mountain and Midwest regions. It's on track to becoming the second-largest IPO this year behind fellow energy MLP Columbia Pipeline Partners LP (NYSE: CPPL). Tallgrass is set for a $900 million deal by offering 35.31 million shares at a price range of $24 to $27. The company commands a $4 billion valuation and will begin trading on Thursday, May 7.
Three LPs have raised more than $800 million in the last year. Shell Midstream Partners LP (NYSE: SHLX) raised $920 million last October and is up 79% since the IPO. Antero Midstream Partners (NYSE: AM) priced above its range at $25 and raised $1 billion on Nov. 5. Most MLPs offer midstream assets like pipelines and storage, meaning they lack direct exposure to low oil and gas prices.
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Adaptimmune Therapeutics Plc. (Nasdaq: ADAP) is developing cancer immunotherapies based on genetically engineered T-cell receptors. The biotech firm's lead drug is currently in a slate of phase I/II studies for a range of different cancers. The Adaptimmune IPO is the largest biotech deal this week and hopes to revive the sector after the Nasdaq Biotechnology Index lost 4.7% last week. The company hopes to raise $150 million by selling 9.38 million shares at a $15 to $17 price range. Adaptimmune commands a $1.2 billion valuation and will debut on Thursday, May 7.
International Market Centers Inc. (NYSE: IMC) is a real estate investment trust (REIT) and the largest owner of business-to-business showroom space in North America for the home furniture industry. The Las Vegas-based company also owns trade show centers for the home décor and gift industries. It owns 9.8 million rentable square feet of showroom space across 13 buildings in North Carolina and Las Vegas. The REIT will raise $150 million by offering 11.5 million shares at a price range of $12 to $14. IMC has a market valuation of $645 million and will hit the market on Friday, May 8.
Commercial Credit Inc. (NYSE: CCR) is set for a $116 million deal and will sell 7.25 million shares at a $15 to $17 price range. The loan company will begin trading on Thursday, May 7.
Collegium Pharmaceutical Inc. (Nasdaq: COLL) will raise $75 million by offering 5.8 million shares at a price range of $12 to $14. The oral healthcare firm will hit the market on Thursday, May 7.
aTyr Pharma Inc. (Nasdaq: LIFE) will raise $75 million by selling 5.36 million shares at a $13 to $15 price range. LIFE stock will start trading on Thursday, May 7.
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CoLucid Pharmaceuticals (Nasdaq: CLCD) is set for a $75 million deal by offering 5.36 million shares at a price range of $13 to $15. The late-stage biotech is expected to debut sometime this week.
Klox Technologies Inc. (Nasdaq: KLOX) will raise $67 million and sell 4.8 million shares at a $13 to $15 price range. The skincare company will hit the market on Thursday, May 7.
MultiVir Inc. (Nasdaq: MVIR) hopes to raise $60 million by selling 4.6 million shares at a price range of $12 to $14. The gene therapy firm will begin trading on Wednesday, May 6.
Gelesis Inc. (Nasdaq: GLSS) plans to raise $52 million by offering 4 million shares at a $12 to $14 price range. The healthcare company will start trading on Wednesday, May 6.
Anterios Inc. (Nasdaq: ANTE) is set for a $51 million deal by selling 3.9 million shares at a price range of $12 to $14. ANTE stock will debut on Friday, May 8.
HTG Molecular Diagnostics Inc. (Nasdaq: HTGM) hopes to raise $50 million by offering 3.57 million shares at a $13 to $15 price range. The diagnostics firm will hit the market on Thursday, May 7.
OpGen Inc. (Nasdaq: OPGN) plans on raising $15 million by selling 2.5 million shares at a price range of $5.50 to $6.50. The deal is a holdover from last week and is expected to start trading sometime this week.
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...
What are your thoughts on the upcoming IPOs this week? Talk to us on Twitter at @AlexMcGuire92 and @moneymorning.