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This past week one IPO debuted and one was not able to come to market.
This past week the lone IPO that priced, Zuora Inc (ZUO), enjoyed an excellent debut. The deal priced $3.00 above the initial range and upsized its offering by 10%. ZUO’s first trade of $20.00 was good for a 43% gain. Zuora hit an opening day high of $21.85 good for 56.1% above the offering price at top-tick. It is evident that bringing a company with a baseline valuation and to let the demand from IPO investors drive the price has been a success from a performance and deal management standpoint. Two recent domestic technology companies that have done this include Dropbox (DBX) and ZScaler (ZS). Investors are likely to let a winner run and maintain Zuora for a longer horizon which has obvious benefits for the company in the long term.
The other IPO set to debut this week, Alzheon Inc (ALZH), did not come to market as planned and the underwriters maintain that this deal is in ‘day-to-day’ status. There is no further information available at this time.
Looking ahead to this week, there are seven IPOs on the schedule and you can check out a preview of each by clicking on the respective logos.
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