The keyword for this weeks list of IPO's is "diversity". There are six IPO's on the schedule this week and the mix of businesses should get even the most picky IPO investor interested. From real estate brokerage, to biotech, healthcare, pet services, and even yoga!
Federal Street Acquisition (NASDAQ: FSAC) is the largest offering of the week which is a company formed to acquire healthcare businesses. They hope to raise $400 million by offering 40 million shares at $10. Since they have no target acquisitions in mind at the moment, this would be considered a "blank check" IPO.
TPG RE Finance Trust (NYSE: TRTX) is up next which is a REIT that is focused on commercial real estate debt only. They are looking for $226 million and will offer 11 million shares at a range of $20 - $21 to expand their operations. Investors will be looking closely at the valuation of this company which is the largest of all the offerings this week, at $1.2 billion.
Calyxt (NASDAQ: CLXT) is a "developer of gene-edited crop traits spun out of Cellectis." They are looking for $100 million from their offering this week. The company is working on healthier soybean oil, and high-fiber wheat but is not quite there yet. If successful the payoff could be in the billions but there is nothing official yet.
Kala Pharmaceuticals (NASDAQ: KALA) will be looking for $90 million this week to continue with their nano-particle therapy for ocular inflammation. They have completed phase 3 of their clinical trials and will offer 6 million shares in the $14- $16 range.
PetIQ (NASDAQ: PETQ) is a company that distributes low-cost versions of pet medications normally only sold by vets. Their main customers are retailers like Walmart (NYSE: WMT) and Sam's Club. Investors have been cheering this company as their sales recently increased, which pushed them into a positive net income for the first time ($4 million). According to their filing though, they do have $48 million in debt, and only 38% of what they raise this week will go to the company.
YogaWorks (NASDAQ: YOGA) is a Los Angeles based studio that was bought by a private equity firm in 2014. Now that they have expended throughout the California and New York area, the private equity group hopes to see the rewards of their investment by offering 5 million shares to the public at a range of $12 - $14.