IFR US ECM WEEKLY REVIEW
Weekly totals
Total*: $1.5bn – IPOs $0– ABBs/Blocks $705m – Follow-ons $825m – CBs $0 – SPACs $152m.
*Ex SPACs.
PRICINGS
Tuesday
Cogent Biosciences (US, biotech) ─ $200m ABB. 22.2m shares (Primary) at $9.00 versus $9.00-$9.50 marketing and $9.78 last sale. JPM, LEER, GUGG. Upsized from $150m.
Globa Terra Acquisition (Mexico, SPAC) ─ $152.2m IPO. 15.2m units (Primary) at $10.00. Each unit comprises one share, three-fourths warrant and one-tenth right. DBORAL. Nasdaq “GTERU”. Agustin Tristan Aldave. Agriculture, water services. 15 months. 100% in trust.
Vertical Aerospace (UK, EV aircraft) ─ $60m ABB. 12m shares (Primary) at $5.00 fixed versus $6.95 last sale. DB, WBLR. Wall cross.
Wednesday
Mobileye (Israel, mobility software) ─ $825m FO. 50m shares (Secondary) at $16.50 versus $17.32 last sale and $18.64 at launch. GS, BOFA. Upsized from 45m shares. Company concurrently bought back an additional $100m of stock (6.2m shares) from selling shareholder Intel.
Rhythm Pharmaceuticals (US, biotech) ─ $175m ABB. 2.1m shares (Primary) at $85.00 versus $84.00-$89.00 marketing and $89.00 last sale. MS, BOFA, STFL, WF. Upsized from $150m.
Thursday
Civista Bancshares (US, community bank) ─ $70m ABB. 3.3m shares (Primary) $21.25 versus $21.00-$21.75 marketing and $24.82 last sale. PS. Funding for $70.4m cash and stock acquisition of Farmers Savings Bank.
Milestone Pharmaceuticals (Canada, biotech) ─ $52.5m ABB. 35m shares (Primary) at $1.50 versus $1.50 fixed price marketing and $2.56 last sale. TDC, PS, WF. Wall cross. Includes pre-funded warrants plus accompanying Series A&B warrants.
Soleno Therapeutics (US, biotech) ─ $200m FO. 2.35m shares (Primary) at $85.00 versus $85.00 fixed price marketing and $88.49 last sale. GS, GUGG. Priced pre-market open. Wall cross.