Pinterest Keeps It Modest, Lyft Sheds Its ‘Nice Guy’ Image, and Grab Is All About the Billions: Term Sheet for Monday, April 8
• Pinterest, a San Francisco, Calif.-based social ideas board maker, plans to raise $ 1.2 billion in an offering of 75 million shares priced between $ 15 to $ 17. The firm posted revenue of $ 755.9 million and loss of $ 63 million in 2018. Bessemer (13.1% pre-offering), FirstMark (9.8%), and a16z (9.6%) back the firm. Goldman Sachs, J.P. Morgan, Allen & Company, BofA Merrill Lynch, Barclays, Citi, Credit Suisse, Deutsche Bank and RBC Capital Markets are underwriters. It plans to list on the NYSE as “PINS.” Read more.
• Hookipa Pharma, a New York-based Phase 2 biotech, plans to raise $ 100 million in an IPO of 6.7 million shares priced between $ 14 to $ 16. Baker Bros, Sofinnova Capital, and Forbion Capital back the firm. BofA Merrill Lynch, SVB Leerink and RBC Capital Markets are underwriters. It plans to list on the Nasdaq as “HOOK.” Read more.
• Zoom Video Communications, a San Jose, Calif.-based video conferencing system, plans to raise $ 326.3 million in an IPO of 10.9 million shares priced between $ 28 to $ 32 apiece. It posted revenue of $ 330.5 million in the year ending 2019 and income of $ 7.6 million. Emergence Capital, Sequoia, and Li Ka-shing back the firm. Morgan Stanley, J.P. Morgan, Goldman Sachs, and Credit Suisse are underwriters. Read more.
• Metropolis Healthcare, an Indian healthcare firm, is reportedly oversubscribed and plans to raise as much as $ 174 million in an IPO in the country, Reuters reports. Carlyle Group’s CA Lotus Investments backs the firm. Read more.
• SciPlay, a Las Vegas-based maker of casino-like social games firm, for an $ 100 million IPO. The firm posted revenue of $ 416 million in 2018 and income of $ 39 million. Scientific Games backs the firm. BofA Merrill Lynch, J.P. Morgan, Deutsche Bank, Goldman Sachs, Morgan Stanley, Macquarie Capital, and RBC Capital Markets are underwriters. It plans to list on the Nasdaq as “SCPL.” Read more.
• Palomar Holdings, a La Jolle, Calif.-based specialty property insurance provider focused of floods, earthquakes, and wind damage, plans to raise $ 90 million in an offering of 5.6 million shares priced between $ 15 to $ 17. Genstar Capital backs the firm. Barclays, J.P. Morgan and Keefe Bruyette Woods are underwriters. It plans to list on the Nasdaq as “PLMR.” Read more.
• Trevi Therapeutics, a New Haven, Conn.-based biotech focused on neurological disorders, filed for an $ 86 million IPO. TPG, NEA, and Lundbeckfond Invest A/S back the firm.
SVB Leerink, Stifel and BMO Capital Markets are underwriters. It plans to list on the Nasdaq as “TRVI.” Read more.
