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IFR US ECM Calendar

 |  Robert Sherwood

September 2: Avnet (US, electronics distributor) ─ $500m 5y cvt marketed at 1.75%-2.25%, up 30%-35%. JPM, BNPP. Concurrent $100m share repurchase. 

September 2: CommVault Systems (US, data security) ─ $750m 5y cvt marketed at 0%-0.5%, up 27.5%-32.5%. JPM, MS, BOFA Concurrent $125m share repurchase. Capped call. 

 September 2: Hamilton Lane (US, asset mgmt) ─ $79.1m ABB. 528,705 shares (Secondary) marketed at $147.65-$149.65 versus $150.65 last sale. BOFA. 

September 2: Lyft (US, ridesharing) ─ $450m 5y cvt marketed at 0%-0.25%, up 32.5%-37.5%. GS, JPM, BOFA, RBC. Concurrent $50m share repurchase. Capped call.  

 September 2: Mineralys Therapeutics (US, biotech) ─ $175m ABB. Fixed size (Primary) marketed at $25.00-$27.00 versus $28.86 last sale. BOFA, EVER, GS, STFL, WF. Wall cross. 

September 2: Nova (US, semiconductors) ─ $500m 5y cvt marketed at 0% fixed, up 30%-35%. BOFA, MS, BARC. Capped call. 

September 3: Bruker (US, life sciences tools) ─ $600m 3y mand cvt pfd marketed at 6.25%-6.75%, up 17.5%-22.5%. JPM, BOFA. Using proceeds to repay bank debt. 

September 3: Impinj (US, semiconductors) ─ $150m 4y cvt marketed at fixed zero-percent coupon, up 30%-35%. JEFF, UBS. Concurrently buying back a portion of $287.5m principal 1.125% CB due 2027. Capped call. 

September 3: Lumentum (US, networking equipment) ─ $1.1bn 6.5y cvt marketed at 0.5%-1%, up 35%-40%. GS, MS, EVER, MIZU. Concurrently buying back a portion of $1.05bn principal 0.5% CB due 2026. Capped call. 

September 9: Klarna (UK, fintech) ─ $1.27bn IPO. 34.3m shares (Primary, Secondary) at $35-$37. GS, JPM, MS. NYSE “KLAR”. Secondary sellers led by Heartland AS, Silver Lake and Mubadala Capital.  

September 10: Figure Technology Solutions (US, fintech) ─ $526.2m IPO. 26.3m shares (Primary, Secondary) at $18.00-$20.00. GS, JEFF, BOFA. Nasdaq “FIGR”. Stanley Druckenmiller’s family office has indicated for $50m of the offering. 5% DSP. 

September 11: Gemini Space Station (US, crypto exchange) ─ $316.7m IPO. 16.7m shares (Primary) at $17-$19. GS, CITI, MS, CANT. Nasdaq “GEMI”. 10% DSP. 

September 11: Legence (US, industrial) ─ $754m IPO. 26m shares (Primary) at $25-$29. GS, JEFF. 5% DSP. Blackstone Group is providing secondary shares for the greenshoe. 

September 11: Black Rock Coffee Bar (US, retailer) ─ $264.7m IPO. 14.7m shares (Secondary) at $16-$18. JPM, JEFF, MS, BAIRD. Nasdaq “BRCB”. Wellington Management has indicated for $30m of offering. 5% DSP.