Seven IPOs are scheduled for the week of October 29th. The full IPO calendar is available here. Because next week is election week, investment bankers currently are not scheduling any IPOs for the week of November 5th.
Delek Logistics Partners, LP (NYSE:DKL)
Based in Brentwood, TN, Delek Logistics Partners, LP scheduled a $160 million IPO with a market capitalization of $490 at a price range mid-point of $20, for Friday, November 2, 2012.
DKL is a mid-stream oil pipeline company primarily serving its parent Delek US Holdings (NYSE:DK), whose stock is up 107% YTD.
DKL expects to distribute at the minimum rate of 7.5% at the price range mid-point of $20. The general partners incentive distribution rights kick in at an 8.6% return, with increasing percentages up to 48%.
Southcross Energy Partners, L.P. (NYSE:SXE)
Based in Dallas, TX, Southcross Energy Partners, L.P. scheduled a $180 million IPO with a market capitalization of $500 million at a price range mid-point of $20, most likely for Friday, November 2, 2012 (originally scheduled for Wednesday, October 31).
SXE is a private equity funded midstream limited partnership paying 8% at the price range mid-point of $20. The general partner's incentive distribution rights kick in at 9.2% are increase up to 48%.
Radius Health (NASDAQ:RDUS)
Based in Cambridge, MA, Radius Health scheduled a $62 million IPO with a market capitalization of $285 million at a price range mid-point of $9.50, for Thursday, November 1, 2012.
RDUS is a venture-funded biopharmaceutical company with no major partners.
IPO proceeds are allocated to further fund Phase 3 clinical trials.
Based in Alameda, CA, Singulex scheduled a $70 million IPO with a market capitalization of $245 million at a price range mid-point of $16 for Friday, November 2, 2012.
SGLX provides advanced diagnostics to help detect potential heart problems. Revenue for the six months ended June 2012 was up 163% from the six months ended June 2011. Losses increased to -$10 million from -$7 million.
Taylor & Martin Group (TMG)
Based in Houston, TX, Taylor & Martin Group scheduled a $1654 million IPO with a market capitalization of $341 million at a price range mid-point of $11, for Thursday, November 1, 2012.
For the nine months ended September 2012 TMG estimates revenue is up 13%. Annualizing the June 2012 six months TMG wants to IPO at a P/E of 59, with a Price to Tangible-Book-Value of 10.5.
Retail & catalog
Restoration Hardware (NYSE:RH)
Based in Corte Madera, CA, Restoration Hardware scheduled a $120 million IPO with a market capitalization of $851 million at a price range mid-point of $23 for Friday, November 2, 2012.
RH is an high end furniture and accessories retailer undergoing a business transformation. Revenue was up 23% to $958 million for the year ended January 2012 vs 2011. Profits increased to $21 million from a loss of $7 million.
For the six months ended July 2012 revenue increased 43% to $511 million from $420 million. Profits increased to $14 million from $1 million.
Business Development Corp
OFS Capital (NASDAQ:OFS)
Based in Rolling Meadows, IL, OFS Capital scheduled a $101 million IPO with a market capitalization of $143 million for Friday, November 2, 2013.
OFS is a Business Development Corporation that will file, for tax purposes, to be a Regulated Investment Company. OFS has a book of loans with a remaining life of 3.5 years.
OFS intends to pay for the December quarter at a rate of $.34 per quarter, which is a 9% annualized rate, which will be difficult to achieve on a continuing basis unless there are realized capital gains.
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.
Disclaimer: This IPO report is based on a reading and analysis of S-1 filings which can be found here, and a separate, independent analysis by IPOdesktop.com. There are no unattributed direct quotes in this article.