IFR US ECM Pricings
Alumis (US, biotech) ─ $300m FO. 17.65m shares (Primary) at $17.00 versus $17.92 last sale and $16.23 at launch. MS, LEER, CANT, WF. Upsized from $175m.
Arrowhead Pharmaceuticals (US, biotech) ─ $200m FO. 3.1m shares (Primary) at $64.50 versus $65.69 last sale and $70.81 at launch. JEFF, JPM. Concurrent upsized $625m CB. Includes pre-funded warrants.
Arrowhead Pharmaceuticals (US, biotech) ─ $625m 6y cvt priced at 0%, up 35% versus 0.5%-1% and 30%-35% marketing. JPM, JEFF. Upsized from $500m. Concurrent $200m follow-on offering. Capped call to $119.33, an 85% premium.
Bleichroeder Acquisition II (Cayman Islands, SPAC) ─ $250m IPO. 25m units (Primary) at $10.00. COHEN. Nasdaq “BBCQU”. Each unit comprises one share and one-third warrant. Bleichroeder. North America/Europe disruptive technologies. 24 months. 100% in trust.
Bright Minds Biosciences (US, biotech) ─ $175.1m FO.1.9m shares (Primary) at $90.00 versus $95.99 last sale and $93.21 at launch. JEFF, TDC, PS, CANT. Upsized from $100m.
Compass (US, real estate services) ─ $850m 5y cvt priced at 0.25%, up 35% versus 0.5%-1% and 30%-35% marketing. MS, JPM. Upsized from $750m. Capped call to $23.68, a 100% premium.
Jefferson Capital (US, consumer finance) ─ $205m FO. 10m shares (Secondary) at $20.50 versus $20.64 last sale and at $23.02 launch. JEFF, KBW. Company bought back 3m shares sold in the offering. JC Flowers is the top selling shareholder.
Phathom Pharmaceuticals (US, biotech) ─ $130m ABB.8.1m shares (Primary) at $16.00 versus $16.00-$16.50 marketing and $18.07 last sale. GUGG, CANT. Upsized from $100m. Wall cross. Includes pre-funded warrants.
Tanger (US, REIT) ─ $220m 5y cvt priced at 2.375%, up 22.5% versus 2.125%-2.625% and 20%-25% marketing. BOFA, TRST, WF, TD. Upsized from $200m. Capped call to $47.49, a 40% premium. Company bought back $20m of stock (600,000 shares) to facilitate hedging.