There are eight upcoming IPOs this week expected to raise a combined $676 million.
This week's IPO calendar picks up after a post-holiday pause in the market. According to Renaissance Capital, a manager of IPO-focused ETFs, none of this week's deals expect to raise over $125 million. That includes three biotechs, two consumer IPOs, one high-growth tech deal, a telecom provider, and a Chinese financial company.
Leading this week's new IPOs is Ollie's Bargain Outlet Holdings Inc. (Nasdaq: OLLI).
Ollie's Bargain Outlet is a chain of closeout retail stores based in Pennsylvania. The company's 187 U.S. locations sell merchandise obtained from various retailers through either closeouts or bankruptcy sales. They offer brand-name merchandise at up to 70% off other retail store prices.
Founded in 1982, Ollie's posted $666 million in sales from April 2014 to April 2015. The chain has strong same-store sales growth and hopes to open up to 30 new locations this year. However, Ollie's has also taken on debt to pay insiders over $150 million over the last two years. It plans to raise $125 million by offering 8.93 million shares at a $13 to $15 price range. OLLI is valued at $845 million and will debut on Thursday, July 16.
Here are seven more upcoming IPOs this week on the IPO calendar...
Seven More Upcoming IPOs This Week
ProNAi Therapeutics Inc. (Nasdaq: DNAI) is a Canadian biotech developing cancer treatments based on DNA interference. ProNAi's lead candidate PNT2258 has shown promising results in phase 1 and 2 trials so far and will soon enter a clinical development program. Dicerna Pharmaceuticals Inc. (Nasdaq: DRNA), the last DNA-focused biotech to go public, popped 207% on its first day but is currently down 15% from its offer price. ProNAi Therapeutics is set for a $101 million deal by selling 6.7 million shares at a price range of $14 to $16. It commands a $451 million valuation and will hit the market on Thursday, July 16.
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Rapid7 Inc. (Nasdaq: RPD) is a cybersecurity company offering enterprise network security software. Rapid7 provides analytics solutions that collect and analyze security data to reduce threat exposure and detect compromise right as it happens. The IPO comes when the sector is white-hot, with the benchmark ISE Cyber Security Index up 19.8% in 2015. Despite a 40% increase in sales during the first quarter, Rapid7 posted huge losses compared to recent cybersecurity IPO CyberArk Software Ltd. (Nasdaq: CYBR). The company plans to generate $90 million by offering 6.45 million shares at a $13 to $15 price range. RPD is valued at $569 million and will begin trading on Friday, July 17.
MasterCraft Holdings Inc. (Nasdaq: MCFT) manufactures inboard wakeboarding, waterskiing, wake surfing, and performance ski boats. MasterCraft was restructured by private equity firm Wayzata Investment Partners after nearing bankruptcy during the recession in 2009. Sales have skyrocketed since then, posting $211 million from March 2014 to March 2015 alone. The company hopes to raise $85 million by selling 6.07 million shares at a price range of $13 to $15. MCFT commands a $266 million valuation and will go public on Friday, July 17.
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Ooma Inc. (NYSE: OOMA) is set for an $85 million deal by offering 5 million shares at a $16 to $18 price range. The Internet-based phone service will hit the market on Friday, July 17.
Chiasma Inc. (Nasdaq: CHMA) will generate $75 million by selling 5.36 million shares at a price range of $13 to $15. The biotech focuses on treatments for rare diseases and will start trading on Friday, July 17.
Jupai Holdings Ltd. (NYSE: JP) will raise $65 million by offering 5.87 million shares at a $10 to $12 price range. The Chinese financial management firm will go public on Thursday, July 16.
BioCardia Inc. (Nasdaq: BCDA) is set to generate $50 million by selling 3.85 million shares at a price range of $12 to $14. The heart-focused biotech will debut 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...