9 IPOs To Watch For This Week

For the week of July 14, 2014, there are nine IPOs slated to open for trading, including Medical Transcription Billing MTBC, previously expected to open last Thursday.

The two largest IPOs for July 14 are TerraForm Power TERP (the latest spinoff of SunEdison SUNE), and Trupanion TRUP, a pet insurance provider.

TerraForm is issuing 20.1 million shares between $19 and $21 to raise just over $400 million in SunEdison’s second spinoff following SunEdison Semiconductor SEMI. SunEdison Semiconductor’s May IPO rose 15 percent in its first day of trading and 34 percent since inception.

Related Link: Hunting The Next GoPro: Short Week Brings Up To 7 IPOs

TerraForm intends to use the majority of funds received to repay a bridge credit facility and for general corporate purposes. 

Insuring Pets

Trupanion is an IPO representing a growing interest in medical insurance for pets.  In response to rising costs in veterinarian expenses, pet owners can now buy insurance to provide peace of mind, knowing man’s best friend is insured when expensive and complicated procedures arise.

Trupanion’s simple insurance policies offer to pay up to 90 percent of medical expenses including injury and illness.  According to the company, this can include, “diagnostic tests, surgeries, medications, hospital stays, and alternative therapies for the treatment of injuries or illnesses.”

See also: Pumpkin Pet Insurance Review

In a recent S-1 filing, the company intends to use proceeds to, “increase our financial flexibility, create a public market for our stock, obtain additional capital and increase our visibility in the marketplace.”

A list of offerings for the week are as follows.

Tuesday, July 15

• Medical Transcription Billing: 3 million shares expect to price between $9 and $11 through Chardan Capital, Aegis Capital, and Summer Street.

Thursday, July 17

• Roka Bioscience ROKA: 5 million shares expect to price between $14 and $16 through Bank of America Merrill Lynch, Cowen and Company, and Wedbush.

Friday, July 18

• CareDx CDNA 3.1 million shares expect to price between $15 and $17 through Piper Jaffray, Leerink Partners, Raymond James, and Mizuho.
• Globant  GLOB: 6.3 million shares expect to price between $11 and $13 through J.P. Morgan, Citigroup, and Credit Suisse.
• PFEnex PFNX: 5 million shares expect to price between $12 and $14 through sole underwriter William Blair.
• Sage Therapeutics SAGE: 4 million shares expect to price between $14 and $16 through J.P. Morgan and Goldman Sachs.
• TerraForm Power: 20.1 million shares expect to price between $19 and $21 through underwriters Goldman Sachs, Barclays, Citigroup, J.P. Morgan, and Macquarie.
• Trupanion: 7.1 million shares expect to price between $13 and $15 through RBC, Barclays, and Stifel.
• TubeMogul TUBE: 6.3 million shares expect to price between $11 and $13 through Bank of America Merrill Lynch, Citigroup, and RBC.

Disclosure: At the time of writing, the author holds no positions in the above mentioned securities.