U.S. IPO Week Forward: McAfee Returns To The Public Market In A 3-IPO Week

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Three IPOs and one SPAC are anticipated to boost $1.6 billion within the week forward, led by main cybersecurity model McAfee (MCFE).

Taken non-public by Intel (NASDAQ:INTC) in 2011, McAfee plans to boost $759 million at a $9.6 billion market cap in its return to the general public market. McAfee gives built-in safety options in opposition to cyberattacks to shoppers, enterprises, and governments. Its consumer-focused merchandise protected over 600 million units and its enterprise prospects included 86% of the Fortune 100. The corporate is worthwhile and plans to supply a 1.7% yield on the midpoint. Regardless of utilizing the IPO proceeds to pay down debt, McAfee will likely be extremely leveraged post-offering.

IT infrastructure platform Datto (MSP) plans to boost $561 million at a $4.2 billion market cap. The Vista-backed firm gives a household of built-in instruments that allow managed service suppliers (MSPs) to offer safety and continuity providers to their SMB prospects. Though the corporate is worthwhile and generated optimistic free money move within the 1H20, income progress has been weighed down by declining gadget income.

Mortgage servicer and lender Guild Holdings (GHLD) plans to boost $153 million at a $1.1 billion market cap. The corporate gives mortgage sourcing and mortgage providers, and it’s among the many longest working seller-servicers within the US. The corporate is worthwhile, and income progress accelerated within the 1H20.

Cormorant Asset Administration’s SPAC Helix Acquisition (HLXA) plans to boost $100 million to amass enterprise within the healthcare trade. The corporate is led by Cormorant founder Bihau Chen, who serves as CEO and Chairman.

U.S. IPO Calendar

Issuer
Enterprise

Deal Measurement
Market Cap

Value Vary
Shares Filed

Prime
Bookrunners

Helix Acquisition
Boston, MA

$100M
$129M

$10
10,000,000

Jefferies

Clean test firm fashioned by Cormorant Asset Administration focusing on healthcare.

Datto
Norwalk, CT

$561M
$4,182M

$24 – $27
22,000,000

Morgan Stanley
BofA

Sells a hybrid IT infrastructure platform to managed service suppliers.

Guild Holdings
San Diego, CA

$153M
$1,102M

$17 – $19
8,500,000

Wells Fargo
BofA

Offers personalised mortgage providers and mortgage origination.

McAfee
San Jose, CA

$759M
$9,621M

$19 – $22
37,000,000

Morgan Stanley
Goldman

Main supplier of antivirus and endpoint safety software program.

Avenue analysis is anticipated for 11 corporations and lock-up intervals will likely be expiring for 2 corporations within the week forward.

IPO Market Snapshot

The Renaissance IPO Indices are market cap weighted baskets of newly public corporations. As of 10/16/20, the Renaissance IPO Index was up 81.6% year-to-date, whereas the S&P 500 was up 7.8%. Renaissance Capital’s IPO ETF (NYSE: IPO) tracks the index, and prime ETF holdings embody Zoom Video (NASDAQ:ZM) and Uber (NYSE:UBER). The Renaissance Worldwide IPO Index was up 37.8% year-to-date, whereas the ACWX was down 3.4%. Renaissance Capital’s Worldwide IPO ETF (NYSE: IPOS) tracks the index, and prime ETF holdings embody Meituan-Dianpin and SoftBank.

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Editor’s Be aware: The abstract bullets for this text had been chosen by Looking for Alpha editors.

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