IPO Weekly Recap – 9.18.2015

This past week three IPOs debuted, four updated terms and two new deals filed.

Among the three deals that debuted, two had strong demand from investors and had successful debuts accordingly. REGENXBIO (Nasdaq: RGNX) upsized its deal, increased its range in a filing—ultimately pricing the deal $3.00 above the initial $17-$19 range. The deal opened 38% higher with a $30.26 first trade. Penumbra (NYSE: PEN) priced $2.00 above range and slightly upsized the small, strongly in-demand deal. ‘PEN’ opened 10-points higher good for a 33% return above the offering price. The other healthcare deal this week, Nabriva Therapeutics (Nasdaq: NBRV) priced at $10.25—a quarter below an already $5.50 dollar downwardly-revised range (filed at $15.00-$17.00). ‘NBRV’ opened with a first trade of $11.39 and caught fire in the aftermarket—hitting a high of $17.48 or 71% above the IPO price. Nabriva Therapeutics closed its initial day of trading at $13.24.

There is one IPO scheduled for this week, however, IPO Boutique does not cover deals underwritten by Aegis Capital–which is why you do not see it on this week’s grid. We do anticipate, starting next week, a much higher flow of filings and terms as we close out the 2015 calendar year.

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 9/18/15 is 123. It should be noted that we removed filings from the active pipeline that did not have a prospectus filed since January 2014. Good luck trading!

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