IPO Weekly Recap 4.3.2015 – GoDaddy IPO Speeds Out of the Gate

This past week two IPOs debuted, one updated terms and ten new deals filed.

In a holiday-shortened trading week, just two IPOs came to market and both had solid debuts. GoDaddy (NYSE: GDDY) ended up being reportedly 20x oversubscribed. The deal upsized and priced $1.00 above the range ($20.00) before opening 31% higher with a $26.15 first trade.  GoDaddy traded as high as $27.27 good for 36% above the IPO price. The other deal this week, Kornit Digital (Nasdaq: KRNT), experienced price sensitivity and came $3.00 below the IPO filing range ($10.00). Institutional and other large, strong-handed investors dictated the price and ‘KRNT’ opened 20% higher with a $12.00 first trade. In its opening day, Kornit Digital hit a first day high of $14.67 and closed its opening session at an even $14.00.

It should be noted that one deal this week, ViewRay Incorporated (Nasdaq: VRAY), has been pushed back for the second time in a row. The underwriters state that the deal should price this week. Please refer to past write-ups and advisories for more information on ‘VRAY’.

Looking ahead to this week, there are zero new IPOs on the schedule.

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 4/03/15 is 129.  Good luck trading!