9 U.S. IPOs Planned For The Week Of Mar 17

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 |  Includes: AKBA, AMBR, ATEN, BRDR, MDWD, PCTY, QTWO, THNX
by: Renaissance Capital IPO Research

The following IPOs are expected to price this week:

A10 Networks (NYSE:ATEN), which provides software-based appliances that optimize data center performance, plans to raise $175 million by offering 12.5 million shares at a price range of $13.00 to $15.00. At the midpoint of the proposed range, A10 Networks would command a market value of $925 million. A10 Networks, which was founded in 2004, booked $142 million in sales over the last 12 months. The San Jose, CA-based company plans to list on the NYSE under the symbol ATEN. Morgan Stanley, BofA Merrill Lynch and J.P. Morgan are the joint bookrunners on the deal.

Akebia Therapeutics (NASDAQ:AKBA), a biotech developing a breakthrough anemia treatment with a once-daily oral dose, plans to raise $76 million by offering 4.9 million shares at a price range of $14.00 to $17.00. At the midpoint of the proposed range, Akebia Therapeutics would command a market value of $302 million. Akebia Therapeutics was founded in 2007. The Cambridge, MA-based company plans to list on the NASDAQ under the symbol AKBA. Morgan Stanley, Credit Suisse and UBS Investment Bank are the joint bookrunners on the deal.

Amber Road (NYSE:AMBR), which provides cloud-based global trade management software, plans to raise $75 million by offering 6.5 million shares at a price range of $10.50 to $12.50. At the midpoint of the proposed range, Amber Road would command a market value of $314 million. Amber Road, which was founded in 1984, booked $53 million in sales over the last 12 months. The East Rutherford, NJ-based company plans to list on the NYSE under the symbol AMBR. Stifel and Pacific Crest are the joint bookrunners on the deal.

Borderfree (NASDAQ:BRDR), which provides a software platform to support international e-commerce for US retailers, plans to raise $75 million by offering 5.0 million shares at a price range of $14.00 to $16.00. At the midpoint of the proposed range, Borderfree would command a market value of $499 million. Borderfree, which was founded in 1999, booked $110 million in sales over the last 12 months. The New York, NY-based company plans to list on the NASDAQ under the symbol BRDR. Credit Suisse and RBC Capital Markets are the joint bookrunners on the deal.

Globoforce (Pending:THNX), which provides cloud-based social recognition software solutions to enterprises, plans to raise $75 million by offering 4.4 million shares at a price range of $16.00 to $18.00. At the midpoint of the proposed range, Globoforce would command a market value of $471 million. Globoforce, which was founded in 1997, booked $187 million in sales over the last 12 months. The Dublin, Ireland-based company plans to list on the NASDAQ under the symbol THNX. J.P. Morgan, Credit Suisse, UBS Investment Bank and Stifel are the joint bookrunners on the deal.

MediWound (NASDAQ:MDWD), which is developing treatments for severe burns and other hard-to-heal wounds, plans to raise $75 million by offering 5.0 million shares at a price range of $14.00 to $16.00. At the midpoint of the proposed range, MediWound would command a market value of $306 million. MediWound was founded in 2000. The Yavne, Israel-based company plans to list on the NASDAQ under the symbol MDWD. Credit Suisse, Jefferies & Co., BMO Capital Markets and Oppenheimer & Co. are the joint bookrunners on the deal.

Paylocity (NASDAQ:PCTY), which provides cloud-based payroll and human capital management software, plans to raise $100 million by offering 6.7 million shares at a price range of $14.00 to $16.00. At the midpoint of the proposed range, Paylocity would command a market value of $765 million. Paylocity, which was founded in 1997, booked $91 million in sales over the last 12 months. The Arlington Heights, IL-based company plans to list on the NASDAQ under the symbol PCTY. Deutsche Bank, BofA Merrill Lynch and William Blair are the joint bookrunners on the deal.

Q2 Holdings (NYSE:QTWO), which provides an online banking SaaS platform to community banks, plans to raise $93 million by offering 7.8 million shares at a price range of $11.00 to $13.00. At the midpoint of the proposed range, Q2 Holdings would command a market value of $433 million. Q2 Holdings, which was founded in 2005, booked $57 million in sales over the last 12 months. The Austin, TX-based company plans to list on the NYSE under the symbol QTWO. J.P. Morgan and Stifel are the joint bookrunners on the deal.

Versartis (NASDAQ:VSAR), a biotech developing long-acting treatments for growth hormone deficiency, plans to raise $81 million by offering 4.6 million shares at a price range of $16.00 to $19.00. At the midpoint of the proposed range, Versartis would command a market value of $409 million. Versartis, which was founded in 2008, booked $0 million in sales over the last 12 months. The Redwood City, CA-based company plans to list on the NASDAQ under the symbol VSAR. Morgan Stanley and Citi are the joint bookrunners on the deal.

Last week, there were 5 IPO pricings. Castlight Health (NYSE:CSLT), an on-demand software that helps self-insured employers control healthcare costs, was the week's winner, ending up 149% from its IPO price.