{"id":15899,"date":"2020-10-30T16:29:50","date_gmt":"2020-10-30T20:29:50","guid":{"rendered":"http:\/\/www.ipoboutique.com\/blog\/?p=15899"},"modified":"2020-11-01T18:41:35","modified_gmt":"2020-11-01T23:41:35","slug":"10-26-20-10-30-20-ipo-summary","status":"publish","type":"post","link":"https:\/\/www.ipoboutique.com\/blog\/10-26-20-10-30-20-ipo-summary\/","title":{"rendered":"Lackluster Week: IPO market hits a rough patch with postponements, underperformance"},"content":{"rendered":"<p><!--more--><\/p>\n<p><a href=\"http:\/\/www.ipoboutique.com\/blog\/wp-content\/uploads\/2020\/10\/Capture-6.jpg\"><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-15907\" src=\"http:\/\/www.ipoboutique.com\/blog\/wp-content\/uploads\/2020\/10\/Capture-6.jpg\" alt=\"\" width=\"1652\" height=\"376\" srcset=\"https:\/\/www.ipoboutique.com\/blog\/wp-content\/uploads\/2020\/10\/Capture-6.jpg 1652w, https:\/\/www.ipoboutique.com\/blog\/wp-content\/uploads\/2020\/10\/Capture-6-600x137.jpg 600w, https:\/\/www.ipoboutique.com\/blog\/wp-content\/uploads\/2020\/10\/Capture-6-300x68.jpg 300w, https:\/\/www.ipoboutique.com\/blog\/wp-content\/uploads\/2020\/10\/Capture-6-1024x233.jpg 1024w, https:\/\/www.ipoboutique.com\/blog\/wp-content\/uploads\/2020\/10\/Capture-6-768x175.jpg 768w, https:\/\/www.ipoboutique.com\/blog\/wp-content\/uploads\/2020\/10\/Capture-6-1536x350.jpg 1536w\" sizes=\"(max-width: 1652px) 100vw, 1652px\" \/><\/a><\/p>\n<p><b>Root Inc (ROOT) <\/b><span style=\"font-weight: 400;\">priced <\/span><b>26.8mm shares<\/b><span style=\"font-weight: 400;\"> (upsized from 24.2mm) <\/span><b>at $27.00<\/b><span style=\"font-weight: 400;\"> ($2 above the range) and <\/span><b>opened at $26.00 for a loss of 3.7% at first trade<\/b><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><b>MediaAlpha, Inc. (MAX) <\/b><span style=\"font-weight: 400;\">priced a full-size deal, <\/span><b>9.25mm shares<\/b><span style=\"font-weight: 400;\">, at the midpoint of the range, <\/span><b>$19.00<\/b><span style=\"font-weight: 400;\">, and <\/span><b>opened at $23.00 for a gain of 21.1% at first trade. MAX<\/b><span style=\"font-weight: 400;\"> was the best trader of this week\u2019s deals as this new issue hit a high of $38.29 for a gain of 101.5% at its high versus the $19.00 issue price.<\/span><\/p>\n<p><b>Leslie&#8217;s Inc (LESL) <\/b><span style=\"font-weight: 400;\">priced a full-size deal, 40.0mm shares, at $17.00 ($1 above the range) and <\/span><b>opened at $20.60 for a gain of 21.2% at first trade. LESL <\/b><span style=\"font-weight: 400;\">closed its opening session at $21.70 for a gain of 27.6%.<\/span><\/p>\n<p><b>Lufax Holding Ltd (LU) <\/b><span style=\"font-weight: 400;\">priced a full-size deal, <\/span><b>175.0mm ADSs<\/b><span style=\"font-weight: 400;\">, at the high-end of the range, <\/span><b>$13.50<\/b><span style=\"font-weight: 400;\">, and opened at <\/span><b>$11.60 for a loss 14.1% at first trade.<\/b><\/p>\n<p><b>Allegro MicroSystems, Inc. (ALGM) <\/b><span style=\"font-weight: 400;\">priced a full-size deal, 25.0mm shares, at the high-end of the range, $14.00,\u00a0 and<\/span><b> opened at $19.40 for a gain of 38.6% at first trade.<\/b><\/p>\n<p><b>Atea Pharmaceuticals, Inc. (AVIR) <\/b><span style=\"font-weight: 400;\">priced 12.5mm shares (upsized from 11.0mm shares) at the high-end of the range,$24.00, and <\/span><b>opened at $27.02 for a gain of 12.6% at first trade.<\/b><\/p>\n<p><b>Galecto, Inc. (GLTO) <\/b><span style=\"font-weight: 400;\">priced a full-size deal, 5.66mm shares, at the midpoint of the range, $15.00, and<\/span><b> opened flat at $15.00.\u00a0 GLTO <\/b><span style=\"font-weight: 400;\">did trade to a weekly high-of $17.11 but closed its opening session flat and its subsequent session saw its stock price go well-below the $15.00 issue price.<\/span><\/p>\n<p><b>SQZ Biotechnologies Company (SQZ)<\/b><span style=\"font-weight: 400;\"> priced a full-size deal, 4.4mm shares, at the low-end of the range, $16.00, and <\/span><b>opened at $15.05 for a loss of 5.9% at first trade. SQZ <\/b><span style=\"font-weight: 400;\">traded poorly in its opening session and failed to regain its issue price.<\/span><\/p>\n<p><b>Biodesix Inc (BDSX) <\/b><span style=\"font-weight: 400;\">priced 4.0mm shares (slightly downsized) at the midpoint of the range, $18.00, and<\/span><b> opened at $13.59 for a loss of 24.6% at first trade. <\/b><span style=\"font-weight: 400;\">BDSX hit a low of $11.85 for a loss of 34.2% at its bottom print.<\/span><\/p>\n<p><b>Gatos Silver Inc (GATO) <\/b><span style=\"font-weight: 400;\">priced 21.4mm shares (upsized from 18.8mm) at $7.00 (low-end of the range) and <\/span><b>opened at $6.50 for a loss of 7.1% at first trade.<\/b><\/p>\n<p><span style=\"font-weight: 400;\">It should be noted that three IPOs elected to postpone their IPOs due to market conditions: <\/span><b>Caliber Home Loans Inc (HOMS), AmeriHome Inc (AHM) and Mavenir plc (MVNR).\u00a0<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Looking ahead to this week, there are zero IPOs currently on the schedule which is not out of the ordinary given election day is on Tuesday in the United States.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":5,"featured_media":15733,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"zakra_general_container_width":0,"zakra_general_content_width":0,"zakra_general_sidebar_width":0,"zakra_sticky_header":"customizer","zakra_header_main_area":true,"zakra_site_logo_width":0,"zakra_header_top_enabled":"customizer","zakra_header_top_style":"customizer","zakra_primary_menu_item_style":"customizer","zakra_page_header_text_color":"","zakra_page_header_layout":"customizer","zakra_page_title_bg":"","zakra_footer_widgets_bg_image":0,"zakra_page_title_bg_repeat":"customizer","zakra_page_title_bg_position":"customizer","zakra_page_title_bg_size":"customizer","zakra_page_title_bg_attachment":"customizer","zakra_breadcrumbs_enabled":"customizer","zakra_breadcrumbs_text_color":"","zakra_breadcrumbs_separator_color":"","zakra_breadcrumbs_link_color":"","zakra_breadcrumbs_link_hover_color":"","zakra_page_title_bg_image":0,"zakra_footer_widgets_enabled":"customizer","zakra_footer_column_layout_1_style":"customizer","zakra_footer_widgets_bg":"","zakra_footer_widgets_bg_repeat":"customizer","zakra_footer_widgets_bg_position":"customizer","zakra_footer_widgets_bg_size":"customizer","zakra_footer_widgets_bg_attachment":"customizer","zakra_footer_bar_enabled":"customizer","zakra_footer_bar_style":"customizer","footnotes":""},"categories":[24,2058,1536],"tags":[2267,2266,2268,2269,2272,2271,2270,2273,2274,2276,2275,2277,2278],"class_list":["post-15899","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo","category-spotlight","category-subscriber-content","tag-ahm","tag-algm","tag-avir","tag-bdsx","tag-gato","tag-glto","tag-homs","tag-lesl","tag-lu","tag-max","tag-mvnr","tag-root","tag-sqz"],"_links":{"self":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/15899","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/comments?post=15899"}],"version-history":[{"count":4,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/15899\/revisions"}],"predecessor-version":[{"id":15916,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/posts\/15899\/revisions\/15916"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/media\/15733"}],"wp:attachment":[{"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/media?parent=15899"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/categories?post=15899"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ipoboutique.com\/blog\/wp-json\/wp\/v2\/tags?post=15899"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}