IPO Weekly Recap: Tremont Mortgage trips out of the gates

This past week one IPO debuted and was a severe disappointment.

Tremont Mortgage Trust (Nasdaq: TRMT) marked the first IPO to come to market since August 11. The deal, which downsized its IPO from 4.5 million to 2.5 million shares, was not enough do prevent a disastrous debut. ‘TRMT’ opened at $17.75 — a full $2.25 below the $20.00 offering price. The top-tick in its first two trading sessions was $17.94 or a little more than 10% below the offering price. TRMT closed Friday’s session at $16.40 or 18% below the offering price.

Looking ahead to this week, there are seven deals scheduled. You can get a preview of this week’s IPO schedule by clicking here.

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IPO Weekly Recap: Tremont Mortgage trips out of the gates