There are seven new IPOs this week expected to hit the market. The seven upcoming IPOs will raise up to $809 million during this shortened holiday week.
Last week, 13 companies went public, more than any week since last October. According to Renaissance Capital, a manager of IPO-focused ETFs, this June will become the busiest month for IPOs in over a decade with more than 30 deals.
Leading this week's IPO calendar is LoanCore Realty Trust Inc. (NYSE: LCRT).
LoanCore is a commercial mortgage real estate investment trust (REIT) based in Connecticut. The REIT primarily invests in and manages commercial mortgage loans and real estate assets. It's backed by Jefferies Group LLC and the Government of Singapore Investment Corp. (GIC).
Founded in 2013, LoanCore posted $7 million in sales from March 2014 to March 2015. The company plans to use its IPO proceeds to add more commercial mortgages to its portfolio. It's set to raise $300 million by selling 15 million shares for $20 each. LCRT is valued at $505 million and will begin trading on Wednesday, July 1.
Here are six more new IPOs this week on the upcoming IPO calendar...
ConforMIS Inc. (Nasdaq: CFMS) is a Massachusetts-based company that sells fully customizable knee replacement implants. Manufactured with 3D printing, the implants areused for all stages of knee osteoarthritis. The firm posted $15 million in sales in Q1, which is a 36% increase from the year-ago period. Despite strong sales, ConforMIS has accumulated a $280 million deficit and remains unprofitable in the near term as it goes up against giant competitors like Stryker Corp. (NYSE: SYK) and Zimmer Biomet Holdings Inc. (NYSE: ZBH). CFMS will raise $135 million by offering 9 million shares at a $14 to $16 price range. The company has a $644 million valuation and will hit the market on Wednesday, July 1.
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CNX Coal Resources LP (NYSE: CNXC) is a master limited partnership (MLP) formed by CONSOL Energy Inc. (NYSE: CNX). The company was formed this year to operate CONSOL's Pennsylvania coal mines. Coal prices have dropped from $68 per ton in Q4 2014 to below $10 this year due to an increased supply of cleaner alternatives. Struggling prices have caused large coal MLP Foresight Energy LP (NYSE: FELP) to tumble 24% this year.
CNX was set to go public last week but pushed the IPO back and lowered the proposed deal size. It now plans on raising $120 million by selling 8 million shares for $15 each. The company previously filed to sell 10 million shares at a $19 to $21 price range. CNX is now valued at $355 million and will start trading sometime this week.
Teladoc Inc. (NYSE: TDOC) offers on-demand medical care through video and telephone consultations. It's the first public "telehealth" company and lets subscribers connect with a doctor via phone or Internet within 10 minutes any time of the day. Teladoc is the leading player in its rapidly expanding market, with sales increasing 75% to $17 million in the first quarter. However, the firm has yet to turn a profit and must win more contracts with insurance companies to become profitable. It will raise $112 million by offering 7 million shares at a $15 to $17 price range. TDOC commands a $573 million valuation and will debut on Wednesday, July 1.
Natera Inc. (Nasdaq: NTRA) is set for a $100 million deal by selling 6.25 million shares at a price range of $15 to $17. The DNA testing company will hit the market on Thursday, July 2.
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Pieris Pharmaceuticals Inc. (Nasdaq: PIRS) will raise $30 million by offering 9.62 million shares for $3.12 each. The kidney disease biotech will move from the pink sheets to the Nasdaq exchange sometime this week.
Unique Fabricating Inc. (NYSE: UFAB) will generate $17 million by selling 1.88 million shares at an $8 to $10 price range. The plastic and foam product producer will begin trading sometime this week.
Principal Solar Inc. (Nasdaq: PSWW) hopes to generate $12 million by selling 1.5 million shares at a $7 to $9 price range. The solar company's IPO has been pushed back several times. It expects to hit the market sometime this week.
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More on IPOs: This year's IPO market has been dramatically slow compared to 2014's huge performance. Now that we're halfway through 2015, we assessed the best and worst IPOs of the year - and what's scheduled on the calendar for Q3 and Q4. Take a look here...
