Tacora Resources, an iron ore mining and processing business backed by U.S. private equity firm Proterra Investment Partners, this week priced its recently filed initial public offering in Canada. The company is seeking to raise $125 million, the updated prospectus shows, an amount that could increase to $144 million if the IPO’s greenshoe option is fully exercised. Tacora will use the proceeds to help finance the restart of the Scully Mine in Wabush, Newfoundland and Labrador, which the company acquired last year.
Scholar Rock, a biotech company focused on developing medicines that treat serious diseases, has raised over $75 million for its IPO after pricing its 5.36 million shares at $14 per share. The stock began trading May 24, 2018 on the NASDAQ under the ticker symbol of “SRRK." Jefferies LLC, Cowen and Company LLC and BMO Capital Markets Corp are the lead underwriters. Scholar Rock's pre-IPO investors included Invus, Redmile Group, Polaris Partners, ARCH Venture Partners, EcoR1 Capital, The Kraft Group, Fidelity Management and Research Company and Cormorant Asset Management.
Bermuda and Lexington, Massachusetts-based Kiniksa Pharmaceuticals, a biopharmaceutical company, has raised about $152.6 million for its IPO after pricing its over 8.4 million shares at $18 per share. The stock began trading May 24, 2018 on the NASDAQ under the ticker symbol “KNSA.” Goldman Sachs and J.P. Morgan Securities LLC are the lead underwriters. Kiniksa's pre-IPO backers included Baker Brothers and Arrowpoint Funds.
MAV Beauty Brands Inc, the holding company for Toronto-based beauty specialist Marc Anthony Cosmetics Inc, has filed a preliminary prospectus with Canadian securities regulators for an initial public offering of common shares. The IPO has not yet been priced; however, Bloomberg earlier reported the company is looking to raise as much as $250 million. The IPO will include a treasury offering by MAV and a secondary offering by TA Associates, which acquired the company in 2016, as well as President and CEO Marc Anthony Venere and the Redmond Family. CIBC Capital Markets, RBC Capital Markets and Jefferies Securities are the joint bookrunners.
Trinity Merger Corp, a SPAC formed by Trinity Real Estate Investments, has raised $300 million for its IPO after pricing its 30 million units at $10 per share. The stock began trading May 15, 2018 on the NASDAQ under the ticker symbol "TMCXU." B. Riley FBR Inc is the underwriter.
Toronto-based beauty company Marc Anthony Cosmetics Inc has hired advisors to run an initial public offering in Canada, according to a report by Bloomberg. Sources told Bloomberg the company is looking to raise as much as $250 million (US$196 million) in an IPO that could be filed as early as this week. Founded in 1995 by hair stylist Marc Anthony Venere, Marc Anthony develops, markets and distributes hair care and body care products in more than 25 countries. It was acquired in 2016 by U.S. private equity firm TA Associates. Bloomberg said the purchase price was about $230 million.
Cyber security firm Avast (AVST.L) shares were down 2.6 percent in early trade on Thursday in the London Stock Exchange’s biggest debut in almost a year, Reuters reported.
ReNew Power Ltd filed for an initial public offering this week that could raise more than US$1 billion in one of India’s biggest listings so far this year, Reuters reported. Goldman Sachs and Canada Pension Plan Investment Board are among the backers of the company, which has about 3,921 megawatts of operational wind and solar power generation capacity and another about 1,668 megawatts under development. ReNew, which in April agreed to buy Ostro Energy Private Ltd in one of India’s biggest renewable energy deals, said in a filing it plans to raise 26 billion rupees (US$387 million).
IPL Plastics plc, a Dublin-based packaging solutions provider, has filed a preliminary prospectus with Canadian securities regulators for an initial public offering of common shares. The offering has not yet been priced; however, the Irish Times earlier reported the company is looking to raise about $200 million (€125 million). IPL, formerly known as One51 plc, three years ago acquired Saint-Damien Québec-based IPL Inc, a maker of injected moulded plastic products, from Novacap for about $280 million. The company has since been backed by Caisse de dépôt et placement du Québec and Fonds de solidarité FTQ.
Dothan, Alabama-based Construction Partners Inc, a civil infrastructure company, has debuted its IPO after pricing its 11.25 million shares at $12 per share. The stock began trading May 4,2018 on the NASDAQ under the ticker symbol "ROAD." Baird, Raymond James and Stephens Inc are the lead underwriters. Construction Partners is a portfolio company of SunTx Capital Partners.