Nine initial public offerings are slated for the U.S. markets this week, making it one of the most active IPO weeks for 2016 so far.
Among the companies set to complete their IPOs is Elf Cosmetics, which is expected to sell 8.3 million shares and raise at least $125 million. The price range is expected at between $14 to $16 a share. The business has been majority-owned since 2014 by private equity firm TPG Growth, the middle-market investment arm of TPG. Other companies that are expected to complete their public offerings include The Trade Desk, a programmatic platform for digital ads, and Novan, a late-stage biotech that develops therapies for skin conditions.
Last week saw Saban Capital Acquisition raise $235 million in its IPO on Nasdaq. Saban Capital is a blank-check company that was formed with the intent to enter into a merger or share exchange. The units were priced at $10 each, with each unit comprising one Class A ordinary share and one-half of one warrant. Each whole warrant allows a holder to purchase one Class A ordinary share for $11.50.
The blank-check company, which reportedly is interested in investing in Israeli firms, is affiliated with Saban Capital Group, the company that owns its brand management arm Saban Brands Lifestyle Group.