Though last week was a slow one for IPO's we could see the full list of companies in the shadows just itching to go public and this week they will. There are 7 names on the schedule this week looking for $1.4 billion. From tech to biotech and transportation, there is a handful to choose from this week.
The largest of the week is Far Point Acquisition (NASDAQ: FPAC) which is a blank check company looking for $500 million to acquire a company in the fintech space. They will be offering 50 million shares at a price point of $10 per share. The company has not listed their intended targets but management believes that there are many potential opportunities.
Next up is US Xpress Enterprises (NYSE: USX) which is a mid sized trucking company out of Tennessee looking to compete with the bigger logistics companies. They hope to raise $343 million by offering 18 million shares at a range of $18 - $20 giving them a near $1 billion valuation.
Moving into the smaller offerings of the week we have Avalara (NASDAQ: AVLR). The company is a cloud based tax compliance firm looking for $150 million. Analysts have some concerns about their valuation relative to their sales and marketing spend. They will offer 7.5 million shares at a range of $19 - $21 giving them a rich, $1.5 billion valuation.
The influx of Chinese based education companies continues this week with Puxin (NYSE: NEW) which is a grade school level education company looking for $133 million. They will offer 7.2 million shares at a range of $17 - $20.
A unique offering this week is Charah Solutions (NASDAQ: CHRA). They are a maintenance company that offers their services to nuclear power plants among others. They are looking for $125 million and will offer 7.4 million shares at a range of $16 - $18. Analysts have concerns that the company may be over leveraged in the short term which provides an additional risk.
Adaptive Insights (NASDAQ: ADIN) is a financial planning software company with cloud based operations. The company will be seeking $115 million by offering 8.2 million shares at a range of $13 - $15. High growth rates seem to be the attraction to the opportunity in this company as IPO documents show that revenue grew by 32% in the first quarter.
The final offering of the week is Verrica Pharmaceuticals (NASDAQ: VRCA) which is a biotech firm developing medications for skin diseases. They will offer 5 million shares at a range of $14 - $16 in hopes of raising $75 million.