Term Sheet — Monday, April 23


AXA Equitable Holdings, the U.S. insurance arm of France’s AXA, will start its IPO roadshow to raise $4 billion this week, the Wall Street Journal reports citing sources. Read more.

Techcombank, the Vietnamese lender, is set to raise $922 million in an IPO of 164 million shares priced at about $5.62 each, Reuters reports citing sources. Read more.

Pivotal Software, a San Francisco-based spin off of DellEMC, raised $555 million in an IPO of 37 million shares priced at $15 a piece. Its stock rose 5% in trading Friday. The firm posted loss of $163.5 million on $509 million in sales for the 12 months ended February 2, 2018. Michael Dell, Silver Lake, Dell, EMC, VMWare, General Electric, and Ford back the company. Morgan Stanley, Goldman Sachs, Citi, BofA Merrill Lynch, Barclays, Credit Suisse, RBC Capital Markets, UBS Investment Bank and Wells Fargo Securities are joint bookrunners in the deal. The company listed on the NYSE as “PVTL.” Read more.

FirstCaribbean International Bank, a Barbados-based spin off of the Canadian Imperial Bank of Commerce, postponed plans to raise $226 million in an IPO. The firm posted income of $160.2 million on revenue of $424.9 million in the 12 months ending Oct. 31, 2017. Barclays, UBS Investment Bank, and CIBC were joint bookrunners in the deal. It planned to list on the NYSE as “FCI.” Read more.

Carbon Black, a Waltham, Mass.-based cloud-based security software maker, plans to raise $128 million in an IPO of 8 million shares priced between $15 to $17 a share. The firm posted revenue of $162 million and loss of $55.2 million in 2017. Atlas Venture (17% pre-IPO), Highland Capital Partners (14.9%), Kleiner Perkins Caufield & Byers (8.8%), Point 406 Ventures (7.7%), and Sequoia Capital (9.9%) back the firm. Morgan Stanley and J.P. Morgan are underwriters in the deal. The firm plans to list on the Nasdaq as “CBLK.” Read more.

Unity Biotechnology, a Brisbane, Calif.-based biotech tackling aging diseases, plans to raise $85 million in an IPO of 5 million shares priced between $16 to $18 apiece. Arch Venture Partners (27.5%), WuXi AppTech (8.9%), Venrock (7.3%), Mayo Clinic (6.9%), Ballie Gifford & Co. (7%), and Fidelity (6.1%) back the firm. Goldman Sachs, Morgan Stanley, and Citi are underwriters in the deal. It plans to list on the Nasdaq as “UBX.” Read more.

Inspire Medical Systems, a Maple Grove, Minn.-based sleep apnea treatment firm, o said it plans to raise $75 million in an IPO of 5 million shares priced between $14 to $16. Presidio Management Group (16.2% pre-IPO), OrbiMed Private Investments (15.9%), Synergy Life Science (15.7%), Kleiner Perkins Caufield and Byers (14.5%),  Amzak Health Investors (10.3%), and Medtronic (5.7%) back the firm. BofA Merrill Lynch and Goldman Sachs are underwriters in the deal. It plans to list on the NYSE as “INSP.” Read more.

Finablr, a holding company for Travelex and UAE Exchange, is preparing for a potential IPO in London. Bavaguthu Raghuram Shetty backs the firm. Read more.

Go to source
For More News!!!
Copyright or Author: Polina Marinova
Copyright or Author:
Source Link: http://fortune.com/2018/04/23/term-sheet-monday-april-23/

www.big4all.org #news #info #magazine #photo #pictures #world #health #crash #sport #business #gadgets #space #nature #social #follow #movie #celebrity #society #politic #tricks #tips #learn

Be the first to comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.