Four venture-backed IPOs were completed in June, one less than in May. But the combined proceeds rose to $646 million in June, a 40 percent increase from the $460 million in total value from five IPOs the month before.
The June debuts were led by the food delivery service Blue Apron, which raised $300 million in its IPO. The New York company was backed by Bessemer Venture Partners, First Round Capital and others.
IPO Profile: Blue Apron LLC
Company Details
New York, NY
347-719-4312
Description: Blue Apron Inc (Blue Apron) is a United States-based Company. The company is engaged in ingredient and recipe delivery service. The company delivers a range of products under categories, such as on the menu, wine and market. On the menu offering includes roasted beef & farro salad, crispy chicken tenders, smoked trout and asparagus salad, vietnamese-style vegetable sandwiches, chicken parmesan, catfish almondine, summer squash enchiladas and seared knockwurst. Wine offers 500ml bottles wines with customized delivery. Market includes ultra-lightweight cast iron skillet, cast iron scrubber, chef and petty knife set, cooking with Blue Apron complete Set, the Blue Apron set, Blue Apron recipe binder, recipe card holder, benriner mandoline slicer, all-purpose kosher sea salt and stainless steel wine chiller.
Competition: HelloFresh, Plated, ChefDay!, FreshDirect
IPO Details
Exchange and Ticker: NYSE: APRN
Filing Range: 30 million shares @ $10 to $11 a share
Date of IPO: 6/29/17
Offering Price: $16
Closing Price on 6/29/17: $10
Offering Size: $480 million
Shares Outstanding: 30 million
Closing Price on 6/30/17: $9.34
Market Capitalization on 6/30/17: $280.6 million
Underwriters: Goldman Sachs & Co, Morgan Stanley & Co, Citigroup Global Markets Inc, Barclays Capital Sec Ltd, Stifel Nicolaus & Co Inc, RBC Capital Markets, SunTrust Robinson Humphrey
Co-managers: Canaccord Genuity Corp, Needham & Co LLC, Oppenheimer & Co Inc, Raymond James & Associates Inc, William Blair & Co
Company Counsel: Wilmer Cutler & Pickering
Manager Counsel: Goodwin Procter LLP
Auditor: Ernst & Young LLP
Investment Details
Backers
- Stripes Group
- Deer Management Co
- First Round Capital
Total funding raised: $195 million
IPO Profile: Mersana Therapeutics Inc
Company Details
Cambridge, Mass.
617-498-0020
Description: Mersana Therapeutics Inc is a United States-based biotechnology company focused on discovering and developing a pipeline of antibody drug conjugates (ADCs). The Company focuses on advancing a pipeline of targeted oncology therapeutics leveraging its Fleximer immunoconjugate technology. The Fleximer platform allows it to design ADCs with specific properties and manage the drug’s chances of attacking cancers. Its product candidates include XMT-1522 and XMT-1536. The ADC therapies treat cancer patients by engineering a drug conjugate with various anti-cancer agents and controlling when, where and how those agents are released. Dolaflexin is its Fleximer antibody drug conjugation platform, which pairs the Fleximer polymer with its linker chemistries to create ADC therapies. XMT-1522 is based on its Dolaflexin platform and has over 15 auristatin molecules per antibody. XMT-1522 is in Phase I clinical trial for various indications of cancers. XMT-1536 is in pre-clinical development.
Competition: Seattle Genetics, ImmunoGen, Genentech
IPO Details
Exchange and Ticker: Nasdaq: MRSN
Filing Range: 5 million shares @ $14 to $16 a share
Date of IPO: 6/28/17
Offering Price: $15
Closing Price on 6/28/17: $14
Offering Size: $75 million
Shares Outstanding: 22.6 million
Closing Price on 6/30/17: $13.97
Market Capitalization on 6/30/17: $316.36 million
Underwriters: JP Morgan Securities LLC, Cowen & Co, Leerink Partners LLC
Co-manager: Wedbush Securities
Company Counsel: Ropes & Gray
Manager Counsel: Davis Polk & Wardwell
Auditor: Ernst & Young LLP
Investment Details
Backers
- New Enterprise Associates
- Rho Capital Partners
- F-Prime Capital Partners
- ProQuest Investments
- Wellington Management Company
- Rock Springs Capital Management
- ArrowMark Partners
- Pfizer Venture Investments
- 180 Degree Capital Corp
- Puretech Ventures
Total funding raised: $126 million
IPO Profile: Shotspotter Inc
Company Details
Newark, Calif.
888-274-6877
Description: ShotSpotter Inc is engaged in designing and delivering gunfire alert and analysis solutions. The dompany offers its software solutions on a SaaS-based subscription model. It has one operating segment with one business activity, providing gunshot detection systems. Its safety solutions include ShotSpotter Flex, ShotSpotter (SST) SecureCampus and ShotSpotter SiteSecure. ShotSpotter Flex is an outdoor public safety solution, serves cities and municipalities seeking to identify, locate and deter persistent a real-time gunshot detection system into their policing systems. SST SecureCampus is integrates its indoor and outdoor solutions in order to help the law enforcement and security personnel serving universities, colleges and other educational institutions. ShotSpotter SiteSecure is integrates its indoor and outdoor solutions for customers such as corporations trying to safeguard their facilities and public agencies focused on protecting critical infrastructure.
IPO Details
Exchange and Ticker: Nasdaq: SSTI
Filing Range: 2.8 million shares @ $10 to $12 a share
Date of IPO: 6/8/17
Offering Price: $11
Closing Price on 6/8/17: $12.90
Offering Size: $30.8 million
Shares Outstanding: 9.1 million
Closing Price on 6/30/17L $12.79
Market Capitalization on 6/30/17: $116.55 million
Underwriter: Roth Capital Partners Inc
Co-managers: Northland Capital Markets, Imperial Capital LLC
Company Counsel: Cooley LLP
Manager Counsel: Robinson Brog Leinwand Reich Genovese
Auditor: Baker Tilly & Co
Investment Details
Backers
- Lauder Partners
- Claremont Creek Ventures
- Levensohn Capital Management
- City Light Capital
- Labrador Ventures
- Westly Group
- Band of Angels Venture Fund
- Motorola Solutions Venture Capital
- Norwest Venture Partners
- Bay Ventures
Total funding raised: $68 million
IPO Profile: Tintri Inc
Company Details
Mountain View, Calif.
650-810-8200
Description: Tintri, Inc. is a United States-based company. The company is engaged in the business of storage management solutions. The company offers a range of products, including Tintri all-flash array, Tintri hybrid-flash array, Tintri Global Center (TGC), Tintri Analytics, Tintri Storage Software. The company’s solutions include cloud, desktops, database system and servers, Data protection and disaster recovery and DevOps. Tintri all-flash array offers a set of rest application programming interface (API), as well as a PowerShell Toolkit and Python software development kit (SDK). The Tintri hybrid-flash array enables user top dive into individual VMs. Tintri Global Center (TGC) helps in storage management. It operates a one-person storage management center. Users can manage up to 32 VMstores as one with visibility into all individual VMs. Tintri Analytics helps to make better decisions with cloud-based predictive analytics.
IPO Details
Exchange and Ticker: Nasdaq: TNTR
Filing Range: 8.57 million shares @ $7 to $8 a share
Date of IPO: 6/30/17
Offering Price: $7
Closing Price on 6/30/17: $7.27
Offering Size: $60 million
Shares Outstanding: 30.9 million
Closing Price on 6/30/17: $7.27
Market Capitalization on 6/30/17: $224.72 million
Underwriters: Morgan Stanley & Co, Merrill Lynch, Pierce, Fenner, Pacific Crest Securities Inc
Co-managers: Needham & Co LLC, Piper Jaffray Cos, William Blair & Co, Raymond James & Associates Inc
Company Counsel: Wilson Sonsini Goodrich & Rosati
Manager Counsel: Goodwin Procter LLP
Auditor: KPMG LLP
Investment Details
Backers
- Silver Lake Partners
- Insight Venture Partners
- New Enterprise Associates
- Lightspeed Management Company LLC
- Menlo Ventures
Total funding raised: $261 million
Source: Thomson Reuters
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