There are six new IPOs this week on the June IPO calendar. They're expected to raise a combined $502 million.
Leading the upcoming IPOs this week is Wingstop Inc. (Nasdaq: WING)...
Wingstop is a fast-casual restaurant chain with 745 locations across 38 states. The Dallas-based company is best known for its fried chicken wings. It joins the group of hot restaurant IPOs in 2015, including Shake Shack Inc. (NYSE: SHAK) and Bojangles' Inc. (Nasdaq: BOJA). SHAK and BOJA are up 68.4% and 6.9% since their respective debuts.
Founded in 1994, Wingstop posted $70 million in sales between March 2014 and March 2015. Its store count grew 19% to 745 locations in 2014. The company plans to raise $75 million by selling 5.8 million shares at a $12 to $14 price range. It's valued at $385 million and will begin trading on Friday, June 12.
Here are five more new IPOs this week on the upcoming IPO calendar...
Axovant Sciences Ltd. (NYSE: AXON) is a clinical-stage biotech firm developing a therapy for the treatment of dementia. Its lead drug candidate, RVT-101, will begin a phase 3 study in mild-to-moderate Alzheimer's patients in Q4. The Alzheimer's therapy market is crowded, with close competitors Lundbeck and Pfizer Inc. (NYSE: PFE). Fund managers Visium and RA Capital plan to invest $150 million, or 60%, of the IPO. That's an important indicator of Axovant's market potential. The company is set for a $251 million deal by offering 17.9 million shares at a price range of $13 to $15. Axovant will hit the market on Thursday, June 11. At a $1.13 billion valuation, it will be the fifth biotech of 2015 with a valuation exceeding $1 billion.
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Invuity Inc. (Nasdaq: IVTY) markets and sells reusable surgical illumination devices. The devices are used to improve surgeons' visibility when performing open procedures. EndoChoice Holdings LLC (NYSE: GI), another medical device IPO, priced last Thursday at the low end of its $15 to $17 range and is up 22.1%. Invuity will raise $60 million by selling 4 million shares at a $14 to $16 price range. The company commands a $207 million valuation and will debut on Thursday, June 11.
[epom key="ddec3ef33420ef7c9964a4695c349764" redirect="" sourceid="" imported="false"]Biotie Therapies Corp. (Nasdaq: BITI) is a Finnish biotech company developing an adjunct treatment to levodopa, a dopamine therapy for Parkinson's disease. Biotie's current development products include tozadenant for Parkinson's, which is in phase 3 trials, and two additional compounds in phase 2 trials. Biotie currently trades on the Finnish Stock Exchange and is down 13% so far this year. It plans on raising $50 million by offering 3.37 million American Depository Shares (ADSs) - shares of a foreign-based company available for purchase on an American stock exchange - at $14.82. The company had previously filed to sell 3 million ADSs at the same price but increased its deal size on Monday. BITI stock will begin trading on Friday, June 12.
People's Utah Bancorp. (Nasdaq: PUB) plans to generate $35 million by selling 2.5 million shares at a price range of $13 to $15. The Utah-based commercial bank will hit the market on Friday, June 12.
Principal Solar Inc. (Nasdaq: PSWW) will raise $25 million by offering 2.5 million shares at a $9 to $11 price range. The solar-focused roll-up merger will debut on Friday, June 12.
Follow me on Twitter at @AlexMcGuire92 for updates on the new IPOs this week.
More on IPOs: Last year was the biggest the IPO market has been since the dot-com era of 2000. And the market shows no signs of slowing down. We've pinpointed the five biggest 2015 IPOs to watch. Take a look...
