The following IPOs are expected to price this week:
Arista Networks (NYSE:ANET), which sells switches and software solutions for next-generation enterprise data centers, plans to raise $200 million by offering 5.3 million shares at a price range of $36.00 to $40.00. At the midpoint of the proposed range, Arista Networks would command a market value of $2.8 billion. Arista Networks, which was founded in 2004, booked $417 million in sales over the last 12 months. It has shipped its switches to more than 2,500 end customers, including Microsoft (NASDAQ:MSFT), Facebook (NASDAQ:FB), eBay (NASDAQ:EBAY), Netflix (NASDAQ:NFLX) and Rackspace (NYSE:RAX). The Santa Clara, CA-based company plans to list on the NYSE under the symbol ANET. Morgan Stanley, Citi, BofA Merrill Lynch and Barclays are the joint bookrunners on the deal.
Radius Health (RDUS), a biotech developing treatments to restore bone density in osteoporosis patients, plans to raise $52 million by offering 6.5 million shares at $8 per share. At the proposed price, it would command a market value of $233 million. The company relaunched its IPO on Monday after delaying plans to raise $75 million at a $411 million valuation in early May. The Santa Clara, CA-based company, which was founded in 2003, plans to list on the NASDAQ under the symbol RDUS. Jefferies and Cowen and Company are the joint bookrunners on the deal.
This article was updated to include Radius Health (NASDAQ:RDUS), which relaunched its IPO after postponing on May 9.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.