IPO Weekly Recap 10.30.15 – Buy-side in Control of Market

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

Both IPOs that debuted this week came to market successfully but only after needing a severe price reduction. MyoKardia (Nasdaq: MYOK) priced its deal at $10.00—a whopping $5.00 below the initial $15-$17 range. The deal opened with a $1.08 premium good for a 10.8% gain at first trade. The other deal this week, Adesto Technologies Corporation (Nasdaq: IOTS), was a holdover from a few weeks back and priced 5 million shares at $5.00 – a far cry from the original terms of 4.1m shares with a $10-$12 range. ‘IOTS’ opened with a $0.60 premium and traded as high as $7.61 on its opening week—good for a 52% gain above the offering price. However, it did close the week with a 19% gain.

Looking ahead to this week, there are two new deals on the schedule and…

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IPO Schedule – Week of November 2nd

While there were no new deals that filed this week, it should not diminish the number of deals building in the pipeline in the month of October. A total of 27 deals filed the previous three weeks leading us to believe that the IPO pipeline remains robust.

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 10/30/15 is 87. Good luck trading!