After Snap (SNAP) had a historic multi-billion IPO, high-growth software provider MuleSoft (MULE) followed up with the best first day of the year this past week, closing Friday up 46%. Alteryx (AYX) is the only IPO with a set date for next week as it will continue to feed investors' appetites for enterprise software companies with strong growth profiles with software companies Yext (YEXT) and Okta (OKTA) also on file.
| US IPO Calendar | |||||
| Issuer Business |
Symbol Exchange |
Deal Size($m) Market Cap($m) |
Price Range Shares Filed |
Pricing Date |
Bookrunners |
| Alteryx Irvine, CA |
AYX NYSE |
$117 $783 |
$12 - 14 9,000,000 |
Wk of 3/20 |
Goldman Sachs, J.P. Morgan |
| Provides a self-service data preparation and analytics software platform. |
|||||
| Valeritas Bridgewater, NJ |
VLRX Nasdaq |
$60 $104 |
$9 - 11 6,000,000 |
Wk of 3/20 |
Cowen & Co, Wedbush PacGrow |
| Markets a disposable device that delivers basal-bolus insulin therapy for Type 2 diabetes. |
|||||
Alteryx (AYX) offers an easy-to-use data analytics platform that allows analysts without coding experience to analyze data from multiple sources. It has been growing quickly (+61% in the MRQ), but investors will weigh whether it can keep up the growth amid increasing competition. It is looking to raise $117 million on Thursday.
Valeritas (VLRX) is looking to complete a $60 million offering this week. Insiders intend to purchase $40 million (66%). The insulin pen-replacement maker is on its second IPO attempt after a $75 million deal stalled in 2015 and it listed on the OTC through a reverse merger.
Riverstone's Silver Run Acquisition II (SRUNU) plans to follow up the best-performing SPAC of 2016 with a larger deal. On Monday morning it upsized the offering by 38% to $550 million, added Goldman as an underwriter and announced plans to price this week.
IPO Market Snapshot
The Renaissance IPO Indices are market cap weighted baskets of newly public companies. The Renaissance IPO Index is up 9.7% year-to-date, while the S&P 500 is up 6.2%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Ferrari (RACE) and TransUnion (TRU). The Renaissance International IPO Index is up 8.8% year-to-date, while the ACWX is up 8.2%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Aena and ABN Amro. To find out if this is the best ETF for you, visit our IPO Investing page.
