This week we will be expecting four IPO's with a total of $309 million in funds that hope to be raised. We have an online car buying website, two companies in the medical device space, and one that is focused on a drug delivery device.
First, and the largest of the week is CarGurus (NASDAQ: CARG). The online car marketplace hopes to raise $132 million by offering 9.4 million shares at a range of $13 - 15. This is a rapidly expanding company which claims to have over 5.4 million US car listings. They have over 90% of car dealerships on its subscription service which allowed their revenue to grow 70% in the first have of this year. The company has plans to expand globally from here.
OptiNose (NASDAQ: OPTN) is the next largest of the week, with an offering of 6.25 million shares at a range of $15 - 17. The pre-revenue company is looking for $100 million to manufacture its recent, FDA approved nasal delivery system "XHANCE". With the funds from the offering and another $25 million from a venture capital firm, the company homes to launch in the US by the second quarter of 2018.
OrthoPediatrics (NASDAQ: KIDS) is up next with a $52 million offering. The company, based on Indiana, is developing orthopedic devices for children. According to their filing notes, traditionally surgeons have had to re-purpose adult implants for children. While the company has grown revenue over the past five years, they still operate at a net loss. They will offer 4 million shares at a range of $12 - 14.
Finally, Restoration Robotics (NASDAQ: HAIR) which sells a patented hair restoration system will be looking for $25 million in exchange for 3.125 million shares at a range of $7 - 9. The company has had a revenue issue in the short term but was able to offset this with expanding margins. The company is now looking to expand its revenues at these current, gross margins of 33%.