This week the IPO markets has a lot on its plate. With the media focused on how the weakness in Snap, Inc. (NASDAQ: SNAP) may put pressure on future tech IPO's, the rest of the IPO markets will try and push ahead. There are potentially seven offerings this week with the biggest one being over $1 billion. In total the IPO markets will look to have a banner week with a total deal size of over $2.3 billion.
First up is the largest of the week, Altice USA (NYSE: ATUS), a cable company out of New York. They are looking for $1.35 billion and will be offering 46.5 million shares at a range of $27 - $31 to try and achieve that goal. They are one of the largest broadband communications companies in the U.S. with approximately 4.9 million customers.
Next is Granite Point Mortgage Trust (NYSE: GPMT) which is one of the three real estate investment trusts going public this week. The Company is focused on commercial real estate debt and hopes to raise $205 million. They will offer 10 million shares at a range of $20 - $21 to achieve this goal.
Another REIT going public this week is Safety, Income and Growth (NYSE: SAFE). This is a REIT formed by another company to "acquire, manage and finance ground net leases. Looking for $205 million as well the company will offer 10.5 million shares at a range of $19 - $21.
The last REIT of the week is Four Springs Capital Trust (NYSE: FSPR). This is a commercial REIT that is diversified by having their 48 properties in 21 different states. They are looking for $101 million from IPO investors and will offer 5.6 million shares at a range of $17 - $19.
The next three IPO's are blank check IPO companies which, with so many this week, may get some media attention if they under perform. Two of the three names do have target acquisitions planned though.
The smallest is Bison Capital (NASDAQ: BCACU) will try to raise $50 million by offering 5 million shares at $10. Next is Constellation Alpha Capital (NASDAQ: CNACU) which is looking for $125 million to use towards acquiring an Indian healthcare business. Finally, the largest blank check offering of the week is Hennessy Capital Acquisition (NYSE: HCAC.U). They are looking for $225 million to acquire a US industrial manufacturer.