Cambridge, Massachusetts-based Magenta Therapeutics, a biotechnology company focused on developing new medicines “to bring the curative power of bone marrow transplant to more patients,” has raised about $100 million for its IPO after pricing its over 6.6 million shares at $15 per share. The stock began trading June 21, 2018 on the NASDAQ under the ticker symbol "MGTA." J.P. Morgan, Goldman Sachs and Cowen are the lead underwriters. Magenta's pre-IPO backers include Casdin Capital, EcoR1 Capital, Eventide Asset Management, Watermill Asset Management, Be the Match BioTherapies and Access Industries.
South San Francisco-based Kezar Life Sciences, a biopharmaceutical company developing novel small molecule therapeutics, has raised about $75 million for its IPO after pricing its 5 million shares at $15 per share. The stock began trading June 21, 2018 on the NASDAQ under the ticker symbol "KZR." Jefferies and Cowen are the lead underwriters. Kezar's pre-IPO backers include Cormorant Asset Management, Morningside Venture, Cowen Healthcare Investments, Pappas Ventures, Qiming Venture Partners, Bay City Capital, EcoR1 Capital, Omega Funds and Aju IB Investment.
Cushman & Wakefield, the real estate firm backed by TPG, has filed plans to go public, according to a June 20 SEC filing. Morgan Stanley, JP Morgan, Goldman Sachs and UBS Investment Bank are joint bookrunners on the deal, the filing said. Other Cushman investors include PAG Asia Capital and Ontario Teachers’ Pension Plan. Cushman didn’t list how many shares it would sell or their price range; that will come in future filings.
Canadian medical cannabis producer Tilray has filed for an IPO. The company is planning on trading its stock on the NASDAQ under the ticker symbol "TLRY." The number of shares that will be sold as well as the stock's pricing terms have yet to be set. Cowen and BMO Capital Markets will serve as lead underwriters. Tilray does not plan on trading the stock on any Canadian stock exchange. Tilray is a portfolio company of Privateer Holdings.
Monaco-based GoodBulk, an owner and operator of dry bulk vessels, has priced 8.5 million shares of its IPO between $15 and $17.50 per share. The stock will trade on the NASDAQ under the ticker symbol "GBLK." Morgan Stanley and Credit Suisse are the lead underwriters. GoodBulk's backers include CarVal Investors and Lantern Asset Management.
West Chester, Pennsylvania-based Verrica Pharmaceuticals, a developer of products that treat skin diseases, has raised $75 million for its IPO after pricing its 5 million share at $15 per share. The stock began trading June 15, 2018 on the NASDAQ under the ticker symbol "VRCA." BofA Merrill Lynch, Jefferies and Cowen are the lead underwriters. Verrica's pre-IPO backers include PBM Capital Group and OrbiMed.
Beauty-products brand Marc Anthony, backed by U.S. private equity firm TA Associates, has priced its recently filed initial public offering in Canada. The Toronto company expects to raise about $126 million of treasury proceeds by selling shares at $14 to $16 per unit. It also expects to secure about $116 million to $132 million in secondary proceeds. The greenshoe option, if fully exercised, will increase secondary proceeds, bringing the IPO's bring total to about $278 million. Marc Anthony is one of five Canadian PE-backed companies to announce or complete an IPO since January.
London-based Autolus, a biopharmaceutical company focused on developing and commercializing T-cell therapies, is expecting to price its IPO of 7.8 million shares at between $15 and $17 per share. The stock will trade on the NASDAQ under the ticker symbol "AUTL." Goldman Sachs and Jefferies LLC are serving as lead underwriters. Autolus’ backers include Arix Bioscience plc, Cormorant Asset Management, Nextech Invest, Syncona and Woodford Investment Management.
Pinnacle Renewable Holdings Inc (TSX: PL), a Richmond, British Columbia-based industrial wood pellet maker and distributor, has launched a secondary offering of common shares. The sellers, which include ONCAP, the mid-market investment arm of Canadian private equity firm Onex Corp, are expected to realize proceeds of about $50 million or $57.5 million if the greenshoe option is exercised in full. As a result, ONCAP, which made a majority investment in Pinnacle in 2011, will reduce its stake to about 33.1 percent, assuming no exercise of the greenshoe option. Pinnacle went public in February, raising $172 million.
IPL Plastics Inc (IPLP), a Montréal-based packaging solutions provider, has priced its proposed initial public offering of common shares at between $13.50 and $16 per unit. This will generate proceeds of about $180 million, not including the greenshoe option. With the IPO's close, IPLP backers Caisse de dépôt et placement du Québec (CDPQ) and Fonds de solidarité FTQ will respectively hold stakes of 28 percent to 28.9 percent and 6 percent to 6.2 percent. CDPQ and the Fonds have invested in the company's affiliate, Ireland's IPL Plastics plc, since 2015, when as One51 plc it acquired Saint-Damien Québec-based IPL Inc from Novacap for about $280 million.