This past week seven IPOs priced, fourteen updated terms and fourteen new deals were filed.
(click to expand)
It was a strong week for IPOs with a number of deals increasing their respective size and/or pricing above their range. Both of those instances occurred in this week’s strongest deal, FitBit (NYSE: FIT). ‘FIT’ priced ($20.00) above an already upwardly revised range and opened at $30.40, or 52% above the offering price. FitBit traded well on day two, hitting a high of $33.95 before closing the week out at $32.50. Fogo de Chao (Nasdaq: FOGO) priced its deal $2.00 above the range, $20.00, and opened with a $6.00 premium. Nivalis Therapeutics (Nasdaq: NVLS) priced in the middle of its given range, $14.00, and opened at $16.50 or 18% higher. Univar (NYSE: UNVR) up-sized its deal by an extraordinary amount, from 20 million to 35 million, and still opened with a 10% premium above the $22.00 high-end pricing. ‘UNVR’ fared well in the aftermarket, trading as high as $27.75 before closing week one at $27.25—24% above the IPO price. Mindbody (Nasdaq: MB) was another deal that popped at its opening. ‘MB’ debuted 16% higher than its mid-range $14.00 pricing, but within minutes the deal was whacked below the offering price. Mindbody closed its opening session at the lows of the day, $11.56, or 17% below the offering price—quite the rollercoaster opening for this deal. Invuity, Inc. (Nasdaq: IVTY), a deal that priced below the original filing range last week but delayed its debut due to an issue with the SEC, opened with a $0.54 premium above the $12.00 pricing. ‘IVTY’ traded very well in its opening week and closed 23% above the offering price with a $14.80 trade to close out the week.
It should be noted that a deal underwritten by Aegis, Ritter Pharmaceuticals (Nasdaq: RTTR), did not price this week and is now ‘scheduled’ to debut on Thursday, June 24. The underwriter adjusted the terms of the deal in an S-1/A filing. Please monitor emails for any potential information concerning this IPO.
Looking ahead to this week, it will be the busiest week of the 2015 calendar year up to this point with 14 deals on the schedule for the upcoming week. Of the 14 deals, we are hearing…
IPO Schedule – Week of June 22
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 6/19/15 is 142. Good luck trading!
English
Arabic
Chinese (Simplified)
Dutch
French
German
Italian
Portuguese
Russian
Spanish