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US IPO Weekly Recap: Cut the offer price for positive returns

PSTG

Continuing the recent trend, four out of five deals priced below the range. This week, five companies raised $765 million, pricing an average of 19% below their proposed midpoints. All four deals that priced below traded up, popping 10% on average and ending the week up 12%; the one that priced in its range dropped 6% in its first day and ended the week down...read more

Allegiance Bancshares prices IPO at $21.00, below the range

Allegiance Bancshares, a commercial bank with 16 locations in Houston and $2 billion in assets, raised $55 million by offering 2.6 million shares at $21, below the range of $22 to $24. Allegiance Bancshares plans to list on the Nasdaq under the symbol ABTX. Baird and Stephens Inc. acted as lead managers on the deal....read more

Week ahead: Fourth quarter kicks off with 11 IPOs set for the week of October 5

PSTG

As many as 11 companies could go public this week, including the year's largest IPO (Digicel) and the fastest-growing company (Pure Storage). Both have proposed market caps of more than $3.5 billion, while six others target valuations of $300 million or less. Last week, there were also 11 IPOs set to price, but ...read more

Roadshow begins for Texas bank: Allegiance Bancshares sets terms for $60 million IPO

Allegiance Bancshares, a commercial bank with 16 locations in Houston and $2 billion in assets, announced terms for its IPO on Monday. The Houston, TX-based company plans to raise $60 million by offering 2.6 million shares at a price range of $22 to $24. At the midpoint of the proposed range, Allegiance Bancshares would command a fully diluted market value of $291 million. ...read more