U.S. IPO Week Ahead: Eventbrite Headlines 8-IPO Week Raising $3.3 Billion

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Includes: BSVN, EB, ELAN, FTCH, RRI, XYF, YMAB, ZEK
by: Renaissance Capital IPO Research

Eight IPOs are on the docket for the week ahead, raising a whopping $3.3 billion. Three deals are raising $500 million, but fast-growing ticketing platform Eventbrite (NYSE:EB) should generate the most excitement. The largest, Elanco Animal Health (NYSE:ELAN), plans to raise $1.35 billion in its spin-out from Eli Lilly (NYSE:LLY). Family-owned steel pipe maker Zekelman Industries (ZEK), a leader in its industry, is raising $750 million. The week's third large IPO, Farfetch (NYSE:FTCH), is also a leader, with a commanding share in the nascent industry for online luxury goods.

U.S. IPO Calendar

Issuer
Business

Deal Size
Market Cap

Price Range
Shares Filed

Top
Bookrunners

X Financial (NYSE:XYF)
Shenzhen, China

$110M
$1,591M

$9 - $11
11,000,000

Deutsche Bank
Morgan Stanley

Operates a peer-to-peer lending platform in China.

Bank7 (NASDAQ:BSVN)
Oklahoma City, OK

$65M
$200M

$18 - $21
3,325,000

KBW
Stephens

Oklahoma City-based bank with seven branches in OK, TX and KS.

Elanco Animal Health
Greenfield, IN

$1,352M
$7,658M

$20 - $23
62,900,000

Goldman
JP Morgan

Spin-off of Eli Lilly's global animal health medicines and vaccines business.

Eventbrite
San Francisco, CA

$200M
$1,843M

$19 - $21
10,000,000

Goldman
JP Morgan

Online live event ticketing platform.

Farfetch
London, United Kingdom

$600M
$4,934M

$15 - $17
37,503,500

Goldman
JP Morgan

Global online marketplace for luxury fashion brands and retailers.

Remora Royalties (NASDAQ:RRI)
Austin, TX

$105M
$210M

$19 - $21
5,250,000

RBC
Wells Fargo

Owns oil and gas mineral royalty interests underlying 600,000 acres across the US.

Y-mAbs Therapeutics (NASDAQ:YMAB)
New York, NY

$80M
$518M

$14 - $16
5,333,333

BofA ML
Cowen

Phase 2 biotech developing monoclonal antibody therapies for pediatric cancers.

Zekelman Industries
Chicago, IL

$752M
$3,486M

$17 - $19
41,750,000

Goldman
BofA ML

Largest independent US steel pipe and tube manufacturer.

Bank7, an Oklahoma City-based bank with seven branches in OK, TX and KS, plans to raise $65 million by offering 3.3 million shares at a price range of $18.00 to $21.00. At the midpoint of the proposed range, Bank7 would command a market value of $200 million. Bank7, which was founded in 2004, booked $39 million in sales over the last 12 months. The Oklahoma City, OK-based company plans to list on the Nasdaq under the symbol BSVN. Keefe Bruyette Woods and Stephens Inc. are the joint bookrunners on the deal.

Elanco Animal Health, a spin-off of Eli Lilly's global animal health medicines and vaccines business, plans to raise $1.4 billion by offering 62.9 million shares at a price range of $20.00 to $23.00. At the midpoint of the proposed range, Elanco Animal Health would command a market value of $7.7 billion. Elanco Animal Health, which was founded in 1954, booked $3.0 billion in sales over the last 12 months. The Greenfield, IN-based company plans to list on the NYSE under the symbol ELAN. Goldman Sachs, J.P. Morgan, Morgan Stanley and Barclays are the joint bookrunners on the deal.

Eventbrite, an online live event ticketing platform, plans to raise $200 million by offering 10.0 million shares at a price range of $19.00 to $21.00. At the midpoint of the proposed range, Eventbrite would command a market value of $1.8 billion. Eventbrite, which was founded in 2006, booked $256 million in sales over the last 12 months. The San Francisco, CA-based company plans to list on the NYSE under the symbol EB. Goldman Sachs, J.P. Morgan, Allen & Company and RBC Capital Markets are the joint bookrunners on the deal.

Farfetch, a global online marketplace for luxury fashion brands and retailers, plans to raise $600 million by offering 37.5 million shares at a price range of $15.00 to $17.00. At the midpoint of the proposed range, Farfetch would command a market value of $4.9 billion. Farfetch, which was founded in 2008, booked $481 million in sales over the last 12 months. The London, United Kingdom-based company plans to list on the NYSE under the symbol FTCH. Goldman Sachs, J.P. Morgan, Allen & Company and UBS Investment Bank are the joint bookrunners on the deal.

Remora Royalties, which owns oil and gas mineral royalty interests underlying 600,000 acres across the US, plans to raise $105 million by offering 5.3 million shares at a price range of $19.00 to $21.00. At the midpoint of the proposed range, Remora Royalties would command a market value of $210 million. Remora Royalties, which was founded in 2011, booked $31 million in sales over the last 12 months. The Austin, TX-based company plans to list on the Nasdaq under the symbol RRI. RBC Capital Markets, Wells Fargo Securities, UBS Investment Bank and Stifel are the joint bookrunners on the deal.

X Financial, which operates a peer-to-peer lending platform in China, plans to raise $110 million by offering 11.0 million shares at a price range of $9.00 to $11.00. At the midpoint of the proposed range, X Financial would command a market value of $1.6 billion. X Financial, which was founded in 2014, booked $3.0 billion in sales over the last 12 months. The Shenzhen, China-based company plans to list on the NYSE under the symbol XYF. Deutsche Bank and Morgan Stanley are the joint bookrunners on the deal. We note that 91% of the deal is already covered by insiders and outside investors.

Y-mAbs Therapeutics, a phase 2 biotech developing monoclonal antibody therapies for pediatric cancers, plans to raise $80 million by offering 5.3 million shares at a price range of $14.00 to $16.00. At the midpoint of the proposed range, Y-mAbs Therapeutics would command a market value of $518 million. Y-mAbs Therapeutics, which was founded in 2015, booked $0 million in sales over the last 12 months. The New York, NY-based company plans to list on the Nasdaq under the symbol YMAB. BofA Merrill Lynch and Cowen are the joint bookrunners on the deal.

Zekelman Industries, a largest independent US steel pipe and tube manufacturer, plans to raise $752 million by offering 41.8 million shares at a price range of $17.00 to $19.00. At the midpoint of the proposed range, Zekelman Industries would command a market value of $3.5 billion. Zekelman Industries, which was founded in 1877, booked $2.6 billion in sales over the last 12 months. The Chicago, IL-based company plans to list on the NYSE under the symbol ZEK. Goldman Sachs, BofA Merrill Lynch, BMO Capital Markets and Credit Suisse are the joint bookrunners on the deal.

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