Weekly IPO Report: Cheers to DAVIDsTea – Beverage Company leads IPOs

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

Channel checks indicated each of the deals this week had considerable strength with two of the four deals pricing above range. The deal of the week, DAVIDsTea (Nasdaq: DTEA) priced ($19.00) above an already upwardly revised range and opened at $25.01—good for a 32% premium. After an early trade churn, ‘DTEA’ broke higher and closed its opening day at $27.00 or 42% above the offering price. The other deal to price above range, Evolent Health (NYSE: EVH), opened $1.00 higher than the $17.00 offering price. ‘EVH’ hit an opening day high of $19.93 before closing the week at $18.86. PennTex Midstream Partners (Nasdaq: PTXP) opened with a $0.95 premium after a mid-range $20.00 pricing. This IPO did not trade well and closed both day one and two below the offering price. EndoChoice Holdings (NYSE: GI) priced at the low-end of the range, $15.00, and opened $0.50 below the offering price. However, ‘GI’ fared well in aftermarket trading as the IPO hit a first day high of $17.76 before closing at $17.00 or 13% above the offering price.

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Looking ahead to this week, there are currently four deals on the schedule and at this time…..

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Week of June 8 IPO 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 6/5/15 is 129.  Good luck trading!