8 IPOs Planned for the Week of April 11

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 |  Includes: ARCO, CAR, SQNS, STIR, TEU, TMS
by: Renaissance Capital IPO Research

The following IPOs are expected to price this week:

Arcos Dorados Holdings Inc. (NYSE:ARCO), the world's largest McDonald's (NYSE:MCD) franchisee with 1,755 locations in Latin America and the Caribbean, plans to raise $874 million by offering 62.5 million shares at a price range of $13 to $15. At the mid-point of the proposed range, Arcos Dorados will command a market value of $3 billion. Arcos Dorados, which was founded in 1967, booked $3 billion in sales last year. ARCO is located in Buenos Aires, Argentina. BofA Merrill Lynch (NYSE:BAC), J.P. Morgan (NYSE:JPM) and Morgan Stanley (NYSE:MS) are the lead underwriters on the deal.

Box Ships Inc. (NYSE:TEU), a newly formed Paragon Shipping- (NASDAQ:PRGN) and CEO-backed Greek containership owner, plans to raise $160 million by offering 10 million shares at a price range of $15 to $17. At the mid-point of the proposed range, Box Ships will command a market value of $242 million. Box Ships, which was founded in 2010, has booked $5 million in sales since inception, and is based in Athens, Greece. UBS Investment Bank (NYSE:UBS) and Morgan Stanley are the lead underwriters on the deal.

Pleasanton, CA-based Ellie Mae (NYSE:ELLI), which provides a software platform that streamlines the mortgage origination process, plans to raise $86 million by offering 7.5 million shares at a price range of $9 to $11. At the mid-point of the proposed range, Ellie Mae will command a market value of $230 million. Ellie Mae, which was founded in 1997, booked $43 million in sales last year. Barclays Capital (NYSE:BCS) is the lead underwriter on the deal.

Osborne Park, Australia-based Mission NewEnergy Limited (MNEL), a development-stage producer of Jatropha-based biodiesel, plans to raise $50 million by offering 4.5 million shares at a price range of $10 to $12. At the mid-point of the proposed range, Mission NewEnergy will command a market value of $115 million. Mission NewEnergy Limited, which was founded in 2005, booked $15 million in sales last year. Chardan Capital Markets and Rodman & Renshaw (NYSEARCA:RODM) are the lead underwriters on the deal.

Paris, France-based Sequans Communications S.A. (NYSE:SQNS), a fabless supplier of next generation (4G) wireless broadband chipsets, plans to raise $110 million by offering 9.2 million shares at a price range of $11 to $13. At the mid-point of the proposed range, Sequans Communications S.A. will command a market value of $438 million. Sequans Communications S.A., which was founded in 2003, booked $69 million in sales last year. UBS Investment Bank and Jefferies & Co. (JEF) are the lead underwriters on the deal.

Boston, MA-based STAG Industrial (STIR), a newly formed REIT with a portfolio of 91 single-tenant industrial properties, plans to raise $220 million by offering 13.75 million shares at a price range of $15 to $17. At the mid-point of the proposed range, STAG Industrial will command a market value of $346 million. STAG Industrial, which was founded in 2003, booked $60 million in pro forma sales last year. BofA Merrill Lynch, J.P. Morgan and UBS Investment Bank are the lead underwriters on the deal.

Glassport, PA-based TMS International (NYSE:TMS), which provides outsourced industrial services to steel mills in North America, plans to raise $200 million by offering 12.5 million shares at a price range of $15 to $17. At the mid-point of the proposed range, TMS International will command a market value of $554 million. TMS International, which was founded in 1926, booked $2 billion in sales last year. BofA Merrill Lynch, Credit Suisse (NYSE:CS) and J.P. Morgan are the lead underwriters on the deal. The company had originally expected to price in late March before delaying the deal.

Cambridge, MA-based Zipcar (ZIP), which operates the leading car sharing network in North America and the UK, plans to raise $125 million by offering 8.3 million shares at a price range of $14 to $16. At the mid-point of the proposed range, Zipcar will command a market value of $639 million. Zipcar, which was founded in 2000, booked $186 million in sales last year. Goldman, Sachs & Co. (NYSE:GS) and J.P. Morgan are the lead underwriters on the deal.

Last week, there were three IPO pricings. SandRidge Mississippian Trust I (NYSE:SDT), a newly-formed trust that holds royalty interests in 37 producing and 123 development wells, was the week's winner, ending up 24% from its IPO price.