The IPO madness continues this week, though at a slightly smaller size. Though there are eight offerings on the books for the week the total amount to be raised is coming in at $743 million. The main focus from the media will likely be in the tech space but the offerings this week are diverse.
Construction Partners (NASDAQ: ROAD) could be the largest offering of the week with a $180 million offering. The company is in the good ol'e fashioned construction business with a focus on road paving in the southeastern US. They are offering 11.3 million shares at a range of $15 - $17.
The next largest offering of the week will likely be the one that gets the most attention. Carbon Black (NASDAQ: CBLK) is focused on the security software offerings to large companies. On the heels of last week's successful tech IPO's, the company hopes to raise $128 million by offering 8 million shares at $15 - $17.
In the biotech space we have a few names. ASLAN Pharmaceuticals (NASDAQ: ASLN) is a company based in Singapore that is focused on a unique cancer therapy. THey are looking for $60 million with 7.5 million shares offered at $8.05.
Unity Biotechnology (NASDAQ: UBX) is a unique company that is focused on clinical therapies in hopes of reducing the effects of aging. They are looking for $85 million by offering only 5 million shares at a range of $16 - $18.
The last offering in the space is Inspire Medical Systems (NASDAQ: INSP) which sells treatments for sleep apnea that are physically implanted into patients. They are offering 5 million shares in hopes of raising $75 million. Expect shares to price at $14 - $16.
In the banking space there are two names, Spirit of Texas Bancshares (NYSE: STXB) which has 15 branches and over $1 billion in assets. The other is BayCom (NYSE: BCML) which is based in California and has 17 branches with $1.2 billion in assets. They both are trying to raise around $50 million and are pricing similarly.
Finally we have PermRock Royalty Trust (NYSE: PRT) which is looking for $125 million by offering 6.3 million shares at a range of $19 - $21. The company is a trust which was formed to acquire oil and natural gas properties in the Permian Basin.