There are 11 upcoming IPOs this week expected to raise a combined $1.63 billion.
The largest and most anticipated deal this week is the Fitbit IPO. Fitbit will be the first consumer electronics IPO since GoPro Inc. (Nasdaq: GPRO), which soared 31% on its first day and is up 139% from the offer price.
According to Renaissance Capital, a manager of IPO-focused ETFs, the Fitbit IPO is one of three companies this week to have a market cap over $1 billion. There have only been 13 companies that large to go public this year.
Here's a look at the Fitbit IPO and the rest of this week's upcoming IPO calendar...
The Fitbit IPO and 10 More Upcoming IPOs
Fitbit Inc. (NYSE: FIT) is a consumer electronics company known for its wearable fitness devices of the same name. Fitbits are wireless-enabled activity trackers that measure health metrics like calories burned, quality of sleep, and number of steps walked.
Fitbit has dominated the multi-billion dollar wearable tech industry. In the first quarter, its devices constituted 85% of U.S. wearable fitness devices and revenue grew 209% to $337 million. The wearable tech market is projected to be worth $19 billion by 2018, suggesting there may be enough room for both Fitbit and the closely competing Apple Watch.
The Fitbit IPO will raise $448 million. The company will sell 29.85 million shares at a $14 to $16 price range. The tech firm is valued at $3.7 billion and will begin trading on Thursday, June 18.
Univar Inc. (NYSE: UNVR) is a leading chemicals distributor based in Illinois. It's the largest chemical distribution firm in North America and second largest in Europe. Univar underwent a leveraged buyout -- an acquisition of another company using bonds or loans -- by CVC Capital Partners in 2007 and Clayton Dubilier & Rice in 2010. The company posted $10.2 billion in sales between March 2014 and March 2015. Univar is set for a $420 million deal by offering 20 million shares at a price range of $20 to $22. It has a market valuation of $2.9 billion and will hit the market on Thursday, June 18.
Here are nine more upcoming IPOs this week on the June IPO calendar...
8point3 Energy Partners LP (Nasdaq: CAFD) is a yieldco that primarily owns solar energy projects and utilities in California. The San Jose, Calif.-based company was formed this year by solar cell manufacturers First Solar Inc. (Nasdaq: FSLR) and SunPower Corp. (Nasdaq: SPWR). It plans to offer an initial yield of 4.3%. The yieldco hopes to raise $400 million by selling 20 million shares at a $20 to $22 price range. CAFD sits on a $1.4 billion valuation and will debut on Friday, June 19.
MINDBODY Inc. (Nasdaq: MB) offers back-end management software for more than 40,000 fitness and wellness companies. Despite posting $77 million in sales from Q1 2014 to Q1 2015, MINDBODY should be unprofitable in the near term as it heavily invests in sales and marketing. Shopify Inc. (NYSE: SHOP) was the last software-as-a-service (SaaS) IPO and currently trades 81% above its offer price. MB plans on raising $100 million by offering 7.15 million shares at a price range of $13 to $15. It's valued at $568 million and will begin trading on Friday, June 19.
Celyad SA (Nasdaq: CYAD) plans to raise $99 million by selling 1.4 million shares at $70.98 per share. The Belgian biotech will hit the market sometime this week.
Fogo de Chão Inc. (Nasdaq: FOGO) is set for a $75 million deal and will offer 4.41 million shares at a $16 to $18 price range. The Brazilian steakhouse chain will start trading on Friday, June 19.
Cynapsus Therapeutics Inc. (Nasdaq: CYNA) will generate $64 million by offering 4.5 million shares at $14.18 a share. The Parkinson's-focused biotech firm will debut sometime this week.
Nivalis Therapeutics Inc. (Nasdaq: NVLS) hopes to raise $60 million by selling 4.29 million shares at a price range of $13 to $15. The cystic fibrosis treatment company will hit the market on Wednesday, June 17.
Principal Solar Inc. (Nasdaq: PSWW) will raise $25 million by offering 2.5 million shares for $9 to $11 each. The energy roll-up was delayed from last week and should begin trading on Tuesday, June 16.
Ritter Pharmaceuticals Inc. (Nasdaq: RTTR) is set for a $20 million deal by selling 1.82 million shares at a $10 to $12 price range. The oral therapy firm will go public on Friday, June 19.
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Yulong Eco-Materials Ltd. (Nasdaq: YECO) hopes to raise $15 million by offering 2.25 million shares at a price range of $6.25 to $7.25. The Chinese brick producer was delayed from March and will debut sometime this week.
I will be providing extensive coverage of the Fitbit IPO this week. Follow me on Twitter at @AlexMcGuire92 for all of the biggest Fitbit IPO news.
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