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3 IPOs set for week ahead
The management unit of a major coal producer, a biotech and a water treatment firm get ready to list on the Nasdaq.
NEW YORK (CNNMoney.com) - The IPO calendar looks fairly light this week, with investment bankers aiming to raise about $421 million. Alliance Holdings GP is the management unit of Alliance Resource Partners LP (Research), a coal company with an estimated 549 million tons of coal reserves. Alliance Holdings helps the Tulsa, Okla.-based coal producer and marketer execute its business strategy.
Alliance Holdings plans to sell 12.5 million shares at an estimated range of $23 to $25 a share and list on the Nasdaq under the ticker "AHGP." Citigroup and Lehman Brothers are the lead underwriters. The company doesn't own any cash-generating assets but will own general partner interests in Alliance Resource after it is spun off. The money raised from the offering will go to the company's management investors. Biomimetic Therapeutics is developing drugs that help repair and regenerate bone and tissue. The Franklin, Tenn.-based company says the products in its pipeline can be used for periodontal, orthopedic, and spine and sports injury applications. Biomimetic Therapeutics plans to sell 4.5 million shares at an estimated price between $11 and $13 a share and list on the Nasdaq under the symbol "BMTI." Deutsche Bank and Pacific Growth Equities are the lead underwriters. The company said it expects to raise about $47.3 million after deducting underwriting costs and expects to use the bulk of the money raised from the offering for more research and development. Basin Water builds and designs water treatment systems that remove chemicals and other contaminants. The company plans to sell 5 million shares at an estimated price range of $8 to $10 a share and trade on the Nasdaq under the ticker "BWTR." Janney Montgomery Scott is the lead underwriter. Basin Water, based in Rancho Cucamonga, Calif., intends to use the money raised from the offering to improve its systems and pay back debt. ---------- Here come the big IPOs -- click here. For more on upcoming IPOs, click here.
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