Four IPOs came to market including a strong debut from the second largest cash raise to debut in 2017.
Altice USA (NYSE: ATUS) upsized its offering 37% and raised $1.91bn with a slightly above mid-range $30.00 pricing. ‘ATUS’ opened with a first trade of $31.60, or 5.3% above the offering price, and rallied in its first few days as a publicly traded company to a high of $35.29 or 17.6% above the offering price.
There were three REITs on the schedule and two of them disappointed while the other (Four Springs Capital Trust) postponed its offering due to market conditions. Safety, Income and Growth, Inc. (NYSE: SAFE) priced at the midpoint of its range, $20.00, and opened $1.00 below the offering price. Granite Point Mortgage Trust (NYSE: GPMT) priced $0.50 below range, $19.50, and opened 6.4% below that with an $18.25 tick at first trade.
SG Blocks (Nasdaq: SGBX) finalized its $7.5m offering by pricing 1.5mm shares at the low-end of the range, $5.00. The deal opened a quarter below the range and had relatively little fanfare in its opening week.
Looking ahead to this week, there are eight new IPOs on the schedule. Click Here to read more about the week’s upcoming offerings.
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