IFR US ECM Calendar
September 9 Alnylam (US, biotech) ─ $500m 3y cvt marketed at 0%-0.5%, up 32.5%%-37.5%. GS, BOFA, JPM, WF. Capped call.
September 9: Dianthus Therapeutics (US, biotech) ─ $150m FO. Fixed size (Primary) versus $31.80 at launch. JEFF, EVER, TDC, STFL.
September 9: Gladstone Capital (US, BDC) ─ $110m 5y cvt marketed at 5.875%, up 10% fixed terms. OPCO. 98.5 OID. Wall cross.
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. Books closed 9/8 at 4:00pm.
September 9: Planet Labs (US, satellite mapping) ─$300m 5y cvt marketed at 0.625%-1.125%, up 27.5%-32.5%. BARC, GS. Capped call.
September 9: Rapport Therapeutics (US, biotech) ─$250m FO. Fixed size (Primary) versus $31.47 at launch. GS, JEFF, TDC, STFL.
September 10: Airo Group (US, military drones) ─ $71.8m FO. 3.5m shares (Primary) versus $20.50 at launch. CANT.
September 10: Figure Technology Solutions (US, fintech) ─ $693m IPO. 31.5m shares (Primary) at $20-$22. GS, JEFF, BOFA. Nasdaq “FIGR”. Stanley Druckenmiller’s family office has indicated for $50m of the offering. 5% DSP. Revised from 26.3m shares at $18-$20 on 9/9.
September 10: LB Pharmaceuticals (US, biotech) ─$266.7m IPO. 16.7m shares (Primary) at $14-$16. LEER, PS, STFL. Nasdaq “LBRX”.
September 11: Black Rock Coffee Bar (US, retailer) ─ $264.7m IPO. 14.7m shares (Primary, Secondary) at $16-$18. JPM, JEFF, MS, BAIRD. Nasdaq “BRCB”. Wellington Management has indicated for $30m 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. Nasdaq has agreed to purchase up to $50m of additional shares in a concurrent private placement.
September 11: Legence (US, industrial) ─ $754m IPO. 26m shares (Primary) at $25-$29. GS, JEFF. Nasdaq “LGN”. 5% DSP. Blackstone Group is providing secondary shares for the greenshoe.
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.
September 16: StubHub (US, ticket exchange) – $851.1m IPO. 34m shares (Primary) at $22-$25. JPM, GS. NYSE “STUB”. 5% DSP.
September 17: Netskope (US, cybersecurity software) ─ $812.6m IPO. 47.8m shares (Primary) at $15-$17. MS, JPM, BMO, TDC, CITZ, MIZU, WF, DB. Nasdaq “NTSK”.