IFR US ECM CALENDAR
July 24: Absci (US, biotech) ─ $50m ABB. Fixed size (Primary) marketed at $3.00-$3.25 versus $3.51 last sale. MS, JPM, JEFF, TDC.
July 24: ADT (US, home security) ─ $594.3m Block. 71m shares (Secondary) marketed at $8.37 fixed price versus $8.67 last sale. BARC, CITI. Apollo Global Management is the selling shareholder. Company is buying back 11m shares being sold in the offering.
July 24: AST SpaceMobile (US, telecom) ─ $500m 7.25y cvt marketed at 2.375% fixed coupon and 20% fixed premium. UBS, BARC. Concurrent registered direct offering being used to fund repurchase of up to $135m principal of 4.25% CB due 2032. Capped call. Wall cross.
July 24: Netstreit (US, net lease REIT) ─ $161.9m ABB. 9m shares (Primary) marketed at $17.40-$17.99 versus $17.99 last sale. BOFA, WF. Structured as a forward sale.
July 29: Ambiq Micro (US, semiconductors) ─ $85m IPO. 3.4m shares (Primary) at $22-$25. BOFA, UBS. NYSE “AMBQ”.
July 30: Figma (US, digital design software) ─ $1.03bn IPO. 36.9m shares (Primary, Secondary) at $25-$28. MS, GS, ALLN, JPM. NYSE “FIG”.
July 31: Shoulder Innovations (US, medical devices) ─ $105m IPO. 5m shares (Primary) at $19.00-$21.00. MS, GS, PS. NYSE "SI".