This week we are looking at the possibility of three new IPO's with a total deal size of $194 million. While these deals wont likely attract the masses or gather much media attention, it still plows the IPO markets ahead in what is still expected to be a record year. Summer time still tends to slow down and many analysts do expect that this trend will continue. Filings are still up though with seven companies filing this month alone.
Of the three IPO's we have two which are biotech company's and a traditional display advertiser. Again, the over all deal sizes are small this week and activity on these new issues may be light.
Avenue Therapeutics (ATXI ) is the smallest offering of the group with a total deal size of $50 million. The biotech spin-off is looking to issue 5 million shares at a range of $9 - $11 to assist in the continuation of their formulation of an opioid medication. The company is entering the phase three process and will use the money to continue collecting their data for FDA approval.
Athenex (ATNX ) is the other biotech looking to go public this week. The company is developing oral chemotherapies for metastatic breast cancer patients in the US and in China. Looking to raise $72 million this week, the company will issue 6 million shares at a range of $11 - $13.
Boston Omaha Corporation (BOMN ) is a billboard and real estate owner which also provides surety insurance. They are looking to raise $72 million as well. The Boston based company will issue 5.5 million shares at a range of $12 - $14 this week.