IPOs

The IPO for bluebird bio (Nasdaq: BLUE) opened for trading at $25.50 after pricing at $17, above the expected $14-$16 range. The company sold 5.9 million shares in the IPO, raising just over $100 million. The IPO size was raised from 5 million shares.

J.P. Morgan and BofA Merrill Lynch are leading the IPO.

bluebird bio is a clinical-stage biotechnology company focused on transforming the lives of patients with severe genetic and orphan diseases using gene therapy.

bluebird bio and its scientific collaborators have generated what they believe is human proof-of-concept data for their gene therapy platform in two underserved diseases, each of which has been granted orphan drug status by U.S. and European regulatory authorities. They expect to initiate in late 2013 a Phase II/III clinical study of their most advanced product candidate, Lenti-D, to evaluate its safety and efficacy in subjects with childhood cerebral adrenoleukodystrophy, or CCALD, a rare, hereditary neurological disorder affecting young boys that is often fatal. They also expect to initiate in mid-2013 Phase I/II clinical studies in the United States and Europe of their next most advanced product candidate, LentiGlobin, to evaluate its safety and efficacy in subjects with ß-thalassemia major and, in the European clinical study, sickle cell disease, or SCD, which are rare, hereditary blood disorders that often lead to severe anemia and shortened lifespans. In addition, in March 2013, the company announced a global strategic collaboration with Celgene Corporation (Nasdaq: CELG) to discover, develop and commercialize novel, disease-altering gene therapies in oncology.

Iroko Pharmaceuticals, Inc. (Nasdaq: IRKO) filed a registration with the U.S. Securities and Exchange Commission for an Initial Public Offering of its Common Stock. The proposed maximum offering price is $145 million. The company plans to list on the Nasdaq Global Select Market under the ticker, "IRKO."

The offering is being made via Jefferies, William Blair, and Canaccord Genuity.

Iroko Pharmaceuticals is a global, specialty pharmaceutical company focused on the development and commercialization of novel nonsteroidal anti-inflammatory drug, or NSAID, therapeutics for patients with mild to moderate acute and chronic pain.

Tesla (NASDAQ: TSLA) CEO Elon Musk said he won't take SpaceX public until they are ready to take people to Mars. Comments were made in a Reuters Insider interview Tuesday evening.

The comments reiterated an tweet on June 6th from the entrepreneur. "No near term plans to IPO @SpaceX. Only possible in very long term when Mars Colonial Transporter is flying regularly," Musk said.

Explaining the rational for not going the IPO route at this time, Musk said developing technology to go to Mars will take "years." This doesn't bode well for the patience of the typical Wall Street investor, he said, who are very short-term in nature.

Musk said SpaceX has been cash flow positive for 5 years, but would be much more profitable if they weren't developing the Mars technology. Going to Mars is the ultimate goal he said.

Sony (NYSE: SNE) is flat in early trading Tuesday amid reports that Dan Loeb's Third Point boosted its stake.

Loeb sent a letter to Sony CEO Kazuo Hirai stating that the electronics giant should move to partially spin-off its entertainment arm. He also offered to put a rep on Sony's board.

An IPO of the profitable unit could boost Sony's share price to $60, up from a close at $20.72 on Monday.

The stake was increased to 70 million shares, or roughly 7 percent of all outstanding at the company. Loeb previously disclosed a 64 million share stake. In total, Third Point has 46 million ordinary shares valued at $944 million and 24 million shares at $492 million attained through cash-settled swaps.

OCI Partners LP (NYSE: OCIP) filed a registration with the U.S. Securities and Exchange Commission for an Initial Public Offering of its Common Units. The proposed maximum offering price is $480 million. The company plans to list on the New York Stock Exchange under the symbol “OCIP."

The offering is being made through BofA Merrill Lynch, Barclays, and Citigroup.

Financial summary: "We acquired our facility (which had been idled by the previous owners since 2004) in May 2011, commenced an upgrade that was completed in July 2012 and began operating our facility at full capacity in the fourth quarter of 2012. Our newly renovated facility began ammonia production in December 2011 and began methanol production in July 2012 (with no significant methanol production until August 2012), with revenues first generated from ammonia sales in the first quarter of 2012 and from methanol sales in the third quarter of 2012. For the three months ended March 31, 2013, our net income and EBITDA, on a pro forma basis, were approximately $56.5 million and $65.2 million, respectively. Subject to certain assumptions, we expect our net income and EBITDA to be approximately $167.3 million and $201.8 million, respectively, for the twelve months ending June 30, 2014."

OCI Partners is a Delaware limited partnership formed in February 2013 to own and operate a recently upgraded, integrated methanol and ammonia production facility that is strategically located on the Texas Gulf Coast near Beaumont.