The IPO markets will likely be one of the last things that investors are focused on this week. The U.S. Presidential elections will take center stage. Tuesday is election day and by the evening the world should know who the next President of the Unites States will be. With this in mind there are no big named, major companies this week that would dare try and grab attention away from the election. There are some smaller names though that will try to raise a total of $80 million this week.
PetroShare (PRHR ), also listed (PRHR ), is hoping to raise $28 million and begin trading on the New York stock exchange. According to their filings the company owns wells in Colorado's Denver-Julesburg Basin. Analysts note that the company has yet to produce any revenue, and carries $2 million in pre-IPO cash and $4.6 million in debt. The company will offer 6 million shares at a price of $4.63 per share. Interesting side note: The company's CEO, Stephen Foley played for the Denver Broncos for 11 seasons in 1976-1986, which included two Super Bowl appearances.
Motif Bio (MTFB ) is once again looking to raise $26 million. The antibiotic biotech last attempted an IPO back in August, but since then has lowered its share offering along with adding warrants. The company will now offer 2.1 million shares at a price of $12.36. They plan to use the capital to finish Phase 3 trials and avoid running out of cash. Invesco plans to invest $8.6 million on the IPO.
Senestech (SNES ) will try to raise $26 million by offering 2 million shares at a range of $12-14. Founded in 2004, the company will use the proceeds to launch "ContraPest", a chemical designed to decrease rat fertility in places like subways and food production facilities, following its recent EPA approval. It would be the only product of its kind on the market. The company at this point has no revenues on the books.