IFR US ECM Calendar
September 4: JBT Marel (US, food processing equipment) ─ $500m 5y cvt marketed at 0.5%-1%, up 27.5%-32.5%. GS, WF. Pre-funding 0.25% CB maturity in May 2026. Capped call.
September 4: Smithfield Foods (US, food processing) ─ $408.2m FO. 16.0m shares (Secondary) versus $25.51 at launch. MS, BOFA, BARC. WH Group is the selling shareholder. WH chairman Long Wan agreed to purchase 1.8m shares sold in the offering.
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.
September 11: Via Transportation (US, transportation software) ─ $471.4m IPO. 10.7m shares (Primary, Secondary) at $40-$44. GS, MS, ALLN, WF. NYSE "VIA" Wellington Management has indicated for $100m of the offering. 5% DSP.