IFR US ECM Calendar
September 24: BXP (US, office REIT) ─ $600m 5y cvt marketed at 1.875%-2.375%, up 20%-25%. MS, JPM, WF, TRST. Capped call.
September 24: Cohu (US, semiconductor equipment) ─ $200m 5.25y cvt marketed at 1.5%-2%, up 27.5%-32.5%. JEFF, EVER, TDC. Wall cross. Capped call.
September 24: MBX Biosciences (US, biotech) ─ $200m FO. 10m shares (Primary) versus $20.00 at launch. JPM, JEFF, TDC, GUGG.
Week of September 29: Commercial Bancgroup (US, commercial bank) ─ $103.7m IPO. 3.7m shares (Primary, Secondary) at $25.75-$27.75. HOVD. Nasdaq “CBK”. 5% DSP.
September 30: Fermi (US, hyperscaler power generation) ─ $550m IPO. 25m shares (Primary) at $18-$22. UBS, EVER, CANT, MIZU. Dual listing on Nasdaq and LSE under symbol “FRMI”.
September 30: Neptune Insurance (US, specialty insurance) ─ $368.4m IPO. 18.4m shares (Secondary) at $18-$20. MS, JPM, BOFA. NYSE “NP”. T Rowe Price and Alliance Bernstein have indicated for $75m combined of the offering.
September 30: Pague Menos (Brazil, pharmacy chain) ─ R$250m ($46.7m). 69.6m (Primary, Secondary) R$3.57 at launch. ITAU, BTG, BRAD, XP. Selling shareholder General Atlantic contributing another 10m shares to the greenshoe.