This past week four deals came to market with three of them gaining more than $1.50 above their offering prices at first trade.
PetIQ, Inc. (Nasdaq: PETQ) turned out to be the strongest deal of the week after upsizing its offering and pricing at the high-end of the range, $16.00. PETQ opened with a $5.00 premium at first trade for a 31.3% gain. $PETQ traded and closed near its highs, $23.32, for a gain of 46% for its opening session.
Kala Pharmaceuticals (Nasdaq: KALA) priced at the midpoint of its range, $15.00, and opened 13.2% higher with a first trade of $16.70. ‘KALA’ traded very well in its first few days as a public company as the biotech hit a weekly high of $19.44 or 29.6% above the offering price.
Calyxt Inc. (Nasdaq: CLXT) needed to severely cut its price, ultimately pricing $7.00 below the $15-$18 range when filed. The deal, which was slightly upsized, opened $1.50 above the $8.00 pricing and traded as high as $11.88 in its first week.
The other deal of the week, TPG RE Finance Trust (NYSE: TRTX), came and went with little fanfare as TRTX opened $0.40 below the $20.00 low-end pricing. $TRTX never traded above the offering price in its opening week.
Looking ahead to this week… there are four IPOs on the schedule. Click here to look at the schedule for the upcoming week.
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