IFR US ECM Pricings
AA Mission Acquisition II (Cayman Islands, SPAC) – $100m IPO. 10m units (primary) at $10.00. CLST. NYSE “YCY.U”. Each unit comprises one share and one-half warrant. Qing Sun. Chinese food and beverage. 18 months. 100% in trust.
AAR (US, aerospace & defense) ─ $249m ABB. 3m shares (Primary) at $83.00 versus $81.00-$86.00 marketing and $89.67 last sale. GS, JEFF, RBC. Wall cross.
Enanta Pharmaceuticals (US, biotech) ─ $65m ABB. 6.5m shares (Primary) at $10.00 versus $10.00-$10.50 marketing and $11.97 last sale. JPM, JEFF, EVER. Upsized from $50m. Wall cross.
Energy Fuels (US, uranium/rare earth minerals miner) ─ $600m 6y cvt priced at 0.75%, up 32.5% versus 0.75%-1.25% and 27.5%-32.5% marketing. GS. Upsized from $550. Capped call to $30.70, a 100% premium.
Fermi (US, hyperscaler power generation) ─ $682.5m IPO. 32.5m shares (Primary) at $21.00 versus $18-$22 marketing. UBS, EVER, CANT, MIZU. Upsized from 25m shares on 9/29. Dual listing on Nasdaq and LSE under symbol “FRMI”. 5% DSP.
Neptune Insurance (US, specialty insurance) ─ $368.4m IPO. 18.4m shares (Secondary) at $20.00 versus $18-$20 marketing. MS, JPM, BOFA. NYSE “NP”. T Rowe Price and Alliance Bernstein indicated for $75m combined of the offering.
Pague Menos (Brazil, pharmacy chain) ─ R$243.5m ($45m) FO. 69.6m (Primary, Secondary) R$3.50 versus R$3.60 last sale and R$3.57 at launch. ITAU, BTG, BRAD, XP. Selling shareholder General Atlantic contributing another 10m shares to the greenshoe.
Rice Acquisition 3 (US, SPAC) ─ $300m IPO. 30m units (Primary) at $10.00. BARC, JEFF. NYSE “KRSP.U”. Upsized from $250m. Each unit comprises one share and one-fourth warrant. Rice Investment Group/Mercuria. Energy. 24 months. 100% in trust.