This past week six IPOs debuted, four updated terms and six new deals were filed.
There were seven IPOs on the schedule to debut this week and many of them were priced to the markets satisfaction and thus performed nicely. Four of the six deals that debuted priced within its initial range. The success this week included the three healthcare related deals that opened on Wednesday. Advanced Accelerator Applications (Nasdaq: AAAP) was the best of the trio after pricing its IPO at the midpoint of the range–$16.00. ‘AAAP’ opened with a $2.50 premium above the offering price and traded as high as $27.12 or 70% higher. Voyager Therapeutics (Nasdaq: VYGR) priced its deal $1.00 below range at $14.00 and opened with a 8% gain above the offering price with a $15.10 first trade. ‘VYGR’, albeit thinly traded, fared well in the aftermarket and traded as high as $18.36 in its first week as a publicly traded company. Wave Life Sciences (Nasdaq: WVE) traded $1.05 above the $16.00 pricing for a nice gain at opening but traded back near the offering price in its opening week. The regional bank deal this week, Equity Bancshares (Nasdaq: EQBK), priced near the low end of the range, $22.50 and opened with an 8% gain coming in with a $24.25 first trade.
It should be noted that a deal that was scheduled to debut this week, Loandepot (NYSE: LDI), was postponed due to market conditions according to the underwriter.
Looking ahead to this week, there are eight new deals on the schedule…
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Please check your emails early and often. We may upgrade or downgrade an IPO and or secondary –sometimes with not as much notice as we would like to give. If you have interest in IPOs do NOT delay your IOI’s (hopefully they are already in)…you can always cancel them. We will keep you posted if and as when…we have anything pertinent to add. The current number of “active” IPOs in the pipeline as of 11/13/15 is 86. Good luck trading!
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