Meet This Week's IPOs: A Biotech, A BDC And A Builder

After the lull in 2016, the IPO market was expected to pick up momentum in 2017. However, the performance thus far in 2017 has been lukewarm. The number of IPOs priced so far this year has been 64, while for the whole of 2016, about 105 IPOs were priced, according to statistics from Renaissance Capital.

Though a 77.8 percent increase from the same period last year, the trend suggests that the pace of initial public offerings might just outpace last year's anemic level. Things might perk up in the second half, although much would depend on the market conditions.

Five companies are scheduled to offer their shares in initial public offerings this week, and Benzinga has previewed those companies for the benefit of the readers.

Athenex (ATNX): The company is scheduled to offer 6 million shares of its common stock at an offer price of $11–$13. The shares are proposed to be listed on the Nasdaq under the ticker symbol ATNX. It is a biopharmaceutical company developing therapies for cancer and is headquartered in Buffalo, New York.

SG Blocks Inc (SGBX): SG Blocks, which is in the business of modifying cargo shipping containers, has offered its shares in a IPO, scheduled for Wednesday. The company plans to issue 2.2 million shares at a price of $5 to $6 per share. The company is headquartered in Brooklyn, New York.

TCG BDC (CGBD): TCG BD is offering 9 million shares in a public offering, with the price in the range of $18.50–$19.50. The company's trailing 12-month revenues were $120 million and net income was $88.7 million. The middle-market lender and subsidiary of The Carlyle Group LP CG is expected to list its shares on the Nasdaq on Wednesday.

Avenue Therapeutics (ATXI): Avenue Therapeutics, a spin-off unit of Fortress Biotech Inc FBIO, is scheduled to offer 5 million shares at a price range of $9–$11. The company, which is developing an IV formulation of opioid tramadol, is seeking to raise finances for funding the Phase III trials of the treatment candidate. The shares are expected to be listed on the Nasdaq under the ticker symbol ATXI.

Boston Omaha Corp. (BOMN) The company, which is into diverse businesses such as owning bill board to insurance to real estate, is offering 5.5 million shares at a price range of $12–$14. The company generated revenues of $4 million in 2016. The shares would be listed on the Nasdaq under the ticker symbol BOMN. The IPO is set for Thursday.

Related Links:

The Basics of IPOs: Some Things You Should Know

7 Best Performing IPOs Of 2016