Sunday, July 15, 2018

Next Week’s IPOs: Q2 Holdings, Akebia, MediWound, Amber Road, Paylocity

March 15th, 4:42 pm
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Of five initial public offerings (IPOs) scheduled for next week, only two are pharmaceutical companies. That’s not the pattern we’ve been seeing so far in 2014, where drug companies lead in IPO numbers by a very large margin. But the techs are making a comeback, and there appear to be many more coming up over the next couple of weeks.

Paylocity Holding Corp. plans to offer 6.67 million shares of its common stock in a Wednesday IPO. The expected price range on the shares is $14 to $16. The company is selling 5 million shares; the rest are being sold by current stockholders. Paylocity offers a cloud-based human resources and payroll software package for mid-sized businesses. The companyn claims 6,850 customers throughout the U.S. with an average of more than 100 employees per customer. Revenues have risen from $39.5 million in 2011 to $77.3 million in 2013, and the company says its annual revenue retention rate has been greater than 92% in each of the past three fiscal years. Paylocity will trade on the Nasdaq under the ticker symbol ‘PTCY’.

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Q2 Holdings Inc. is expected to launch its IPO on Thursday with an offering of 7.76 million shares in a price range of $11 to $13 a share. The company provides cloud-based banking solutions for regional and community financial institutions. Q2 is selling 6.25 million shares, and existing shareholders are selling the rest. Q2’s shares will trade on the New York Stock Exchange under the ticker symbol “QTWO’.

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Akebia Therapeutics Inc. plans to offer 4.9 million shares in an expected price range of $14 to $17 in another Thursday IPO. Among other therapeutics, the biopharma company is developing a once-daily oral therapy for patients with kidney disease. The venture capital arm of Novartis AG (NVS) owns nearly 24% of the company. Akebia will trade on the Nasdaq under the ticker symbol ‘AKBA’.

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Mediwound Ltd. is an Israel-based biopharma firm that is developing, manufacturing and commercializing novel treatments for severe burns and other hard-to-heal wounds and connective tissue disorders. The company plans to offer 5 million shares in a Thursday IPO in a price range of $14 to $16 a share. The company’s stock will be listed on the Nasdaq under the ticker symbol ‘MDWD’.

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Amber Road Inc. is a maker of cloud-based software for global trade management. The company plans to offer 6.5 million shares in an expected price range of $10.50 to $12.50 a share in a Friday IPO. The company is selling 4.78 million shares and existing shareholders are selling the rest. Amber Road’s stock will trade on the New York Stock Exchange under the ticker symbol ‘AMBR’.

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