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...
New IPOs This Week
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.
Money Morning Members: Continue reading for four more new IPOs this week. For those new to Money Morning, sign up to keep reading - it's completely free...
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...