8 U.S. IPOs Planned For The Week

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Includes: AVG, CEMP, DOR, FRAC-OLD, GWAY, MACK, MTDR, SLCA
by: Renaissance Capital IPO Research

The following IPOs are expected to price this week:

AVG Technologies (NYSE:AVG), a freemium Internet security provider for consumers and small businesses, plans to raise $125 million by offering 8,000,000 shares at a price range of $16.00 to $18.00. At the mid-point of the proposed range, AVG Technologies will command a market value of $924.50 million. AVG Technologies was founded in 1991. The Amsterdam, Netherlands,-based company plans to list on the NYSE under the symbol AVG. Morgan Stanley (NYSE:MS), JPMorgan (NYSE:JPM) and Goldman Sachs (NYSE:GS) are the lead underwriters on the deal.

Cempra (NASDAQ:CEMP), a biotech developing potent antibiotics to fight pneumonia and skin infections, plans to raise $86 million by offering 6,000,000 shares at a price range of $11.00 to $13.00. At the mid-point of the proposed range, Cempra will command a market value of $195.35 million. Cempra, which was founded in 2005, plans to list on the Nasdaq under the symbol CEMP. Stifel Nicolaus Weisel, Leerink Swann and Cowen & Company are the lead underwriters on the deal.

Dynamic Offshore Resources (DOR), a Riverstone/Carlyle-backed E&P operating offshore in the Gulf of Mexico, plans to raise $400 million by offering 16,666,667 shares at a price range of $17.00 to $19.00. At the mid-point of the proposed range, Dynamic Offshore Resources will command a market value of $1.27 million. Dynamic Offshore Resources, which was founded in 2008, booked $448 million in sales over the last 12 months. The Houston, Texas,-based company plans to list on the NYSE under the symbol DOR. Citi (NYSE:C), Credit Suisse and Deutsche Bank Securities (NYSE:DB) are the lead underwriters on the deal.

Greenway Medical Technologies (NYSE:GWAY), which provides integrated IT solutions and services to ambulatory healthcare providers, plans to raise $80 million by offering 6,666,667 shares at a price range of $11.00 to $13.00. At the mid-point of the proposed range, Greenway Medical Technologies will command a market value of $347.02 million. Greenway Medical Technologies, which was founded in 1998, booked $99 million in sales over the last 12 months. The Carrollton, Ga.-based company plans to list on the NYSE under the symbol GWAY. JPMorgan, Morgan Stanley (MS) and William Blair are the lead underwriters on the deal.

Matador Resources (NYSE:MTDR), an oil and gas E&P focused on U.S. shale plays, plans to raise $200 million by offering 13,333,334 shares at a price range of $14.00 to $16.00. At the mid-point of the proposed range, Matador Resources will command a market value of $831.89 million. Matador Resources, which was founded in 2003, booked $57 million in sales over the last 12 months. The Dallas, Texas,-based company plans to list on the NYSE under the symbol MTDR. RBC Capital Markets and Citi are the lead underwriters on the deal.

Merrimack Pharmaceuticals (NASDAQ:MACK), which uses its Network Biology system to discover and develop cancer treatments, plans to raise $173 million by offering 16,666,667 shares at a price range of $8.00 to $10.00. At the mid-point of the proposed range, Merrimack Pharmaceuticals will command a market value of $983.83 million. Merrimack Pharmaceuticals, which was founded in 1993, booked $28 million in sales over the last 12 months. The Cambridge, MA,-based company plans to list on the Nasdaq under the symbol MACK. JPMorgan is the lead underwriter on the deal.

Platinum Energy Solutions (FRAC-OLD), which provides fracturing services used in unconventional oil and gas drilling, plans to raise $140 million by offering 14,000,000 shares at a price range of $9.00 to $11.00. At the mid-point of the proposed range, Platinum Energy Solutions will command a market value of $325.43 million. Platinum Energy Solutions, which was founded in 2011, booked $14 million in sales over the last 12 months. The Houston, Texas,-based company plans to list on the NYSE under the symbol FRAC. Morgan Stanley, JPMorgan and Citi are the lead underwriters on the deal.

U.S. Silica Holdings (NYSE:SLCA), the second largest domestic producer of silica and a major producer of fracking sand, plans to raise $200 million by offering 11,764,705 shares at a price range of $16.00 to $18.00. At the mid-point of the proposed range, U.S. Silica Holdings will command a market value of $900.00 million. U.S. Silica Holdings, which was founded in 1901, booked $271 million in sales over the last 12 months. The Frederick, MD,-based company plans to list on the NYSE under the symbol SLCA. Morgan Stanley, BofA Merrill Lynch and Jefferies & Co. are the lead underwriters on the deal.

Last week, there were two IPO pricings. Guidewire Software (NYSE:GWRE), which provides enterprise software and services to 103 P&C insurers, was the week's winner, ending up 37% from its IPO price.