As is typical for the Memorial Day shortened week, the IPO markets are typically quiet. This week we will see two deals come to market, raising just over $100 million total. Many analysts are on record stating that May's 15 IPO launches will likely lead to a strong June with continued market activity.
First up is NantHealth (NH ). This IPO is Led by billionaire CEO Dr. Patrick Soon-Shiong. It is a healthcare IT company and according to its filings, has a $50 billion market opportunity for its SaaS-based data solutions. Analysts remain focused on the company's has a high cash burn ( about $36 million in this quarter alone) and accumulated debt to the tune of $324 million. Dr. Soon-Shiong is also the CEO of 2015 biotech IPO NantKwest (NK ), which we note is down 70% since the offering. Insiders have committed to77% of the $91 million deal. The company will offer 6.5 million shares at a range of $12.5-$15.5.
Finally we have Sensus Healthcare (SRTS ). This is a micro cap device maker which is looking to raise $11 million by offering 1.75 million shares at $6.25. The company hopes to expand its sales and marketing efforts of its non-surgical, non-melanoma skin cancer treatment system. It is also paying a dividend to preferred shareholders.