IFR US ECM CALENDAR
June 10: American Superconductor (US, smart grid equipment) ─ $100m ABB. Fixed size (Primary) marketed at $28.00-$29.00 versus $34.45 last sale. OPCO.
June 10: Ategrity Specialty Insurance (US, specialty insurance) ─ $106.7 IPO. 6.7m shares (Primary) at $14-$16. JPM, BARC. NYSE “ASIC”. 7% DSP. Accelerated of 6/11.
June 10: Aya Gold & Silver (Canada, precious metals) ─ C$100m ($73m) Bought deal. 7.5m shares (Primary) at C$13.35 versus $14.52 at launch. DESJ.
June 10: BrightSpring Health Services (US, healthcare services) ─ $311.4m Block. 14m shares (Secondary) marketed at $21.50-$22.24 versus $22.24 last sale. GS, BOFA, KKR. KKR & Co is the selling shareholder.
June 10: Brown & Brown (US, insurance broker) ─ $4bn FO. Fixed size (Primary) versus $107.86 at launch. JPM, BOFA. Cash funding for $9.8bn acquisition of Accession Risk Management.
June 10: Byline Bancorp (US, regional banks) ─ $109.2m Block. 4.3m shares (Secondary) marketed at $24.50-$25.50 versus $26.72 last sale. JPM. Estate of Daniel L. Goodwin is the selling shareholder. The company is buying back $5m-$10m of shares sold in the offering and certain directors up to $3.1m.
June 10: Cracker Barrel (US, restaurants) – $300m 5.25y cvt revised to 1.75%, up 32.5% fixed versus 1.75%-2.25% and 27.5%-32.5% talk at launch. BOFA, GS. Upsized from $275m. Capped call.
June 10: Grab (Singapore, ride hailing) ─ $1.5bn 5y, put-3 cvt marketed at 0%-0.5%, up 35%-40%. MS, HSBC, JPM. Upsized from $1.25bn. Concurrent $274m shares repurchase. Reg S placement.
June 10: Grupo Financiero Galicia (Argentina, bank) ─ $647.6m Block. 11.7m ADSs (Secondary) marketed at $53.25-$55.25 versus $57.33 last sale. MS, GS. HSBC is the selling shareholder.
June 10: Iren (Australia, HPC/bitcoin mining) – $450m 4.5y cvt marketed at 3%-3.5%, up 30% fixed. CITI, JPM. Capped call. $100m prepaid forward to facilitate delta hedging.
June 10: Rubrik (US, software) ─ $1bn 5y cvt marketed at 0%-0.5%, up 37.5%-42.5%. GS, BARC, CITI, WF. Capped call. Fully repay $327.9m of borrowings on credit facility.
June 10: Voyager Technologies (US, aerospace & defense) ─ $319m IPO. 11m shares (Primary) at $26-$29. MS, JPM. NYSE “VOYG”. DSP (up to $20m). Janus Henderson and Wellington Management have indicated for $60m of the offering.
June 11: Chime Financial (US, fintech) – $832m IPO. 32m shares (Primary, Secondary) at $24-$26. MS, GS, JPM. Nasdaq “CHYM”. 5% DSP. Cathay Innovation, Chateau, Flourish Ventures and Jay McGraw are the selling shareholders.
June 17: Caris Life Sciences (US, cancer diagnostics) ─ $423.5m IPO. 23.5m shares (Primary) at $16.00-$18.00. BOFA, JPM, GS, CITI. Nasdaq "CAI". Neuberger Berman has indicated for up to $75m of offering. 5% DSP.
June 17: Slide Insurance (US, insurance) – $340m IPO. 20m shares (Primary, Secondary) at $15-$17. BARC, MS. Nasdaq “SLDE”.