IFR US ECM PRICINGS
Abivax (France, biotech) ─$650m ABB. 10.2m shares (Primary) at $64.00 versus $62.50-$65.00 marketing and $68.60 last sale. LEER, PS, GUGG. Upsized from $400m. Wall cross.
Accelerant (US, insurance exchange) ─ $723.7m IPO. 35.5m shares (Primary, Secondary) at $21.00 versus $18-$20 marketing. MS, GS, BMO, RBC. Upsized from 28.9m shares. Altamont Capital is among the selling shareholder. 5% DSP.
Fibra Next (Mexico, warehouse REIT) ─ Ps8bn ($431.9m) IPO. 80m shares (Primary) at Ps100. BOFA, BBVA, BTG, GS. Banks hold 16m share hot shoe option plus a 14.4m share greenshoe option.
GO Residential Real Estate Investment Trust (Canada, residential REIT) ─ $410.3m IPO. 27.4m shares (Primary) at $15.00 fixed price. CIBC, BMO. Cohen & Steers investing $90m in concurrent private placement.
Karman (US, aerospace & defense) ─ $1bn FO. 21m shares (Secondary) at $49.00 versus $49.10 last sale and $56.22 at launch. CITI, EVER, BAIRD, RBC, WBLR. Upsized from 20m shares. Trive Capital is the selling shareholder.
Mara (US, crypto miner) ─ $950m 7y, put-4.5y cvt priced at 0%, up 17.5% versus fixed 0% coupon and 15%-25% marketing. MS, BARC. Upsized from $850m. Repurchase $19.4m principal of 1% CB due in 20226. Capped call to $24.14, a 40% premium. Reference priced based on $17.24 VWAP from 2:00pm-4:00pm ahead of pricing.
McGraw Hill (US, online education) ─ $414.6m IPO. 24.4m shares (Primary) at $17.00 versus $19-$22. GS. NYSE “MH”. Platinum Equity is providing shares for the greenshoe.