IFR US ECM Weekly Review
Weekly totals
Total*: $2.2bn – IPOs $0 – ABBs/Blocks $1.7bn – Follow-ons $0 – CBs $500m – SPACs $0 – International** $185m
*Ex SPACs, international. ** US dollars.
Pricings
Monday
Spyre Therapeutics (US, biotech) ─ $275m ABB. 14.9m shares (Primary) at $18.50 versus $18.50 fixed price marketing and $18.92 last sale. JEFF, TDC, LEER, STFL. Upsized from $200m. Wall cross.
Tuesday
ASP Isotopes (US, advanced materials) ─ $210.3m Block. 17.2m shares (Primary) at $12.25 versus $12.08-$12.65 marketing and $14.05 last sale. CANT, LUCID. Upsized from $200m.
EyePoint Pharmaceuticals (US, pharmaceuticals) ─$150m ABB. 12.5m shares (Primary) at $12.00 versus $12.00-$12.50 marketing and $13.16 last sale. JPM, JEFF, CITI, GUGG. Wall cross. Includes prefunded warrants.
Nexgold Mining (Canada, gold mining) ─ C$110m ($78m) Bought deal. 69.4m shares (Primary) at C$1.44 versus C$1.60 last sale. NBF. Includes 6.33m flow through shares sold at C$1.58.
Wednesday
Dragonfly Energy (US, EV batteries) ─ $55.4m ABB. 41m shares (Primary) at $1.35 versus $1.97 last sale. CGEN. Includes prefunded warrants. Priced pre-market open on 10/16.
Satellogic (US, aerospace & defense) ─ $90m ABB. 27.7m shares (Primary) at $3.25 fixed price versus $4.14 last sale. CANT, TITAN. Upsized from $70m.
Taseko Mines (Canada, copper mining) ─ C$160.3m ($107m). Bought deal. 37.1m shares (Primary) at $4.32 versus $4.32 last sale. BMO, CGEN.
Thursday
Atai Life Sciences (Netherlands, biotech) ─ $130m ABB. 23.7m shares (Primary) at $5.48 versus $5.48 fixed price marketing and $5.48 last sale. JEFF, BNRB. Upsized from $100m. Wall cross.
Bitfarms (Canada, AI data centers) ─ $500m 5.25y cvt priced at 1.375%, up 30% versus 1.25%-1.75% and 27.5%-32.5% marketing. CANT. Upsized from $300m Capped call to $11.88, a 125% premium. Wall cross.
Lexeo Therapeutics (US, biotech) ─ $125m ABB. 15.6m shares (Primary) at $8.00 fixed price and $8.77 last sale. LEER, CANT, STFL, OPCO. Upsized from $100m. Wall cross. Concurrent private $10m placement of prefunded warrants with Balyasny Asset Management.
Praxis Precision Medicines (US, biotech) ─ $525m ABB. 3.3m shares (Primary) at $157.00 versus $152.00-$157.00 marketing and $162.71 last sale. TDC, PS, GUGG, TRST. Upsized from $400m. Includes prefunded warrants. Wall cross.
Standard Lithium (Canada, lithium) ─ $130m ABB. 29.9m shares (Primary) at $4.35 versus $4.35-$4.65 marketing and $5.39 last sale. MS, EVER, BMO. Upsized from $120m. Wall cross.