May IPOs off to quiet start
An energy spinoff, a defense services contractor and two healthcare firms make it on to this week's schedule.
By Grace Wong, CNNMoney.com staff writer

NEW YORK (CNNMoney.com) - The IPO calendar is fairly quiet this week as investors may be hunkering down ahead of summer and early fall, which tend to be tough seasons for stocks.

Delek U.S. Holdings, a division of Israeli energy conglomerate Delek Group, is expected to list on the New York Stock Exchange. The company operates gas stations in the South and recently extended its reach into the refinery business. Delek U.S. plans to sell 10 million shares to underwriters at an expected price of $14 to $16 a share. About 2,600 people work for Delek in the United States. (Full story.)

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DynCorp International is a private contractor for military services such as law enforcement training and support for peacekeeping operations. The Irving, Texas-based company is betting the government will keep outsourcing technical services to private vendors who tout specialty services at a lower cost.

"There's an enormous appetite for IT-related services and tremendous growth in the sector," Peter Arment, a defense industry analyst at JSA Research, said. The company expects to list on the New York Stock Exchange under the symbol "DCP." Credit Suisse and Goldman Sachs are the lead underwriters of the deal. DynCorp employs about 14,000 people.

DynCorp, which is owned by private-equity firm Veritas Capital, intends to sell 25 million shares at an estimated price of between $15 and $17 a share. If shares price at the midpoint of the range, Veritas Capital will receive nearly 25 percent of the net proceeds of the offering.

Novacea is a biotech firm with treatments for prostate and breast cancer in its pipeline. The company plans to sell 6.25 million shares at an expected price range of $11 to $13 a share. It expects to trade on the Nasdaq under the symbol "NOVC." Bear Stearns and Cowen & Co. are the lead underwriters.

The company, based in South San Francisco, Calif., intends to use the money raised from the offering to pay for clinical developments. It also will use the proceeds for marketing its products. Novacea employs about 50 workers.

Northstar Neuroscience makes neurological medical devices. One of the products the company is developing is designed to improve hand and arm motor function in stroke patients.

Based in Seattle, Northstar plans to sell 6 million shares to underwriters at about $12 to $14 a share. The company aims to list on the Nasdaq under the ticker "NSTR."

The company plans to use proceeds from the IPO to develop its products and run trials and research programs. It will also use funds raised to launch its stroke recovery system. About 50 people work at Northstar.

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.