IPO Weekly Recap: 6.12.2015 – Wingstop with a spicy debut

This past week four IPOs priced, three IPOs debuted, five updated terms and six new deals were filed.

It was a strong week for IPOs that did make their debuts this past week. Wingstop (Nasdaq: WING) priced 46% higher than the midpoint of the original range. After the deal was upwardly-revised by the underwriters, ‘WING’ priced above range at $19.00 and opened for trade at $30.50—good for a 61% return above the offering price. According to our sources, Wingstop’s IPO was around 35-times oversubscribed with the top ten accounts receiving 50% of the book. The other deal with considerable strength was Axovant Sciences (NYSE: AXON) as the deal upsized and priced at the high end of the range, $15.00. ‘AXON’ opened for trading at $20.93 and traded as high as $31.17 on day one or 108% above the offering price. Day two was much more realistic for ‘AXON’ as this new issue fell by 25% and closed the week at $22.31—still 49% above the offering price. People’s Utah Bancorp (Nasdaq: PUB) priced its IPO near the high-end of the range, $14.50 with the deal opening for trading at $15.76. ‘PUB’ closed the week at $16.41 or 13% above the offering price.

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It should be noted that the Invuity (Nasdaq: IVTY) IPO lowered its range thru an S-1/A filing and priced at $12.00 on Thursday night. However, according to the underwriter, there have been technical issues surrounding this deal. This IPO will now likely trade on Monday June 15th or Tuesday June 16th. Please refer back to the ratings sheet from last week for the write-up. Please monitor emails for any potential information.

Looking ahead to this week, there are seven new IPOs on the schedule with…

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Next Week’s 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 6/12/15 is 135.  Good luck trading!