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Two IPOs came to market this week with mixed success.
Athenex Inc (Nasdaq: ATNX) priced a full-size deal at the low-end of the range, $11.00, and opened with a $1.00 premium at first trade. The heavily insider-backed offering traded well in its opening week as ‘ATNX’ hit a first week high of $13.88 or 26.1% above the offering price. IPO Boutique rated the offering a ‘3’…or a moderate BUY… and premium subscribers were kept in the loop with underwriter guidance along with our analysis. Motif was a selling group in the Athenex offering and were able to offer investors of all size a piece of the ‘ATNX’ deal at the offering price. Click here to learn more about being a part of Motif offerings in the future.
Below is the channel checks that helped clients indicate with confidence for the ATNX offering:
The other initial public offering this past week was a business development corporation, TCG BDC, Inc. (Nasdaq: CGBD), which opened 70-cents below the $18.50 offering price and never traded at the IPO price in its first week.
One deal that was on the schedule this week, Avenue Therapeutics (Nasdaq: ATXI), did not come as scheduled and the underwriters are currently labeling this deal as being in ‘day-to-day’ status.
Looking ahead to this week, there are six IPOs on the schedule. Click here for a preview of the upcoming week’s IPOs.
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